How to Start a Credit Card Issuing Company

Earn commissions by joining a credit card affiliate program to promote the products and services of online credit card merchants. Create a website where you can market credit card products and services. Once you establish a website, post links to the websites of merchant partners.
Enter into a partnership with a major bankcard company like Visa or MasterCard. If your nonprofit organization participates in an affinity credit card program, the group will be compensated for endorsing the card by being paid a percentage of each credit card transaction processed through the bank card service. In addition, a small issuer can often gain an economical advantage by partnering with an agent card issuer; yet still remain in control of its card program, but at a more affordable cost.
Contract with a company or corporation that is specifically in the business of providing credit card services. There are definite advantages to outsourcing the actual management of customer service and payment processing and collections functions related to your credit card program. A primary advantage is allowing smaller card issuers to compete in the credit card market by allowing larger companies to assume the expenses and risks associated with a credit card program.
Pay any required start-up costs, deposits and processing fees, which can vary. Choose from a variety of Visa and MasterCard products available. Establish the terms and conditions by setting rates and credit limits as permitted under your state's laws. Design a logo for the card to broaden brand identification.
Market the credit card program. With marketing costs increasing, more small issuers are finding themselves pressured by market competition, as large card issuers have the ability to offer better credit card products. They also have the resources needed to promote products and services more effectively than the majority of the competition.To succeed, small card issuers must be willing to invest in promotional pricing and rewards programs to attract new cardholders. Like any other business, the goal is to attract consumers and operate at a profit while controlling costs.
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