How to Start a Prepaid Credit Card Company

A prepaid credit card enterprise is one way to develop a financial services business that provides to those people who cannot get a regular credit card. You can build a prepaid credit card company without any heavy investment and there is also no need to rent a large office. Moreover, if you desire you can start a prepaid credit card company, generate profit from it and you won’t even have to leave your house in the process. There are a number of ways to run a prepaid credit card company and make the business successful.

Instructions

  • 1

    Business type

    Choose the structure and body for the business. You can start the prepaid credit card business as a sole proprietorship, or you can decide to start the business as a partnership, corporation or a limited liability company. You should get in touch with a business accountant or attorney to discuss the structure of your company before choosing which one provides you the best safety of your assets and the best tax advantages.

  • 2

    Name and registration of the company

    Decide a business name. You will have to include prepaid credit cards in the name so possible customers know what your company offers straight away. On the other hand, register the business with the state band country where you will be operating the business. Whether you decide a home-based office or an office, talk to the Secretary of State and the county licensing department to register the company with both departments.

  • 3

    Business plan

    Devise a business and marketing strategy. Make a written guide for the business and include how much revenue you want to create, the marketing tactics you will need to deploy to reach out to your possible buyers and determine who your buyers will be. For instance, you can choose to target low-income people and those with bad credit who cannot get a regular credit card. Also contact the Internal Revenue Service to get a tax identification number for the company. Decide a local or online bank and open a business account with them.

  • 4

    Affiliate networks

    Sign up as an affiliate for prepaid credit card services. Go to these networks like the Credit Affiliate Network, Linkshare or Commission Junction. They have prepaid credit card manuals that you can register to represent. For every sale you make, this company will pay you a commission. The commission can be flat-rate fee or it can be the percentage of what the customer pays to buy the credit card.

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