Credit Card Company Best For Lawyers?

Credit cards are the most widely accepted payment method in Australia. Unfortunately, they aren’t necessarily the best option for your business if you’re a lawyer or law firm. There’s a number of factors that we’ll go into below to help you decide which is right for your business and whether it might be more useful than credit cards:

Fees: Credit cards can charge up to 2% per transaction. That means an average $2,000 bill will cost at least $20 before tax each month. If you get cash advances from your card (which happens often), then that takes the fee closer to 4%. With interest rates running at around 20%, this comes out as about 30% plus any fees charged by your bank (and usually very high). It’s important to note here that while some banks offer free or discounted processing with their credit cards, even these still come with fees and take time. The good news is there are alternatives available like prepaid debit cards where there won’t be any fees and no need for direct deposit (although sometimes this requires extra work on top of what is required when using a regular card). Interest rates: When compared with other fixed term loans, credit card debt generally has higher interest rates thanks to its fixed term agreement – typically 6 months or less – so unless absolutely necessary you should avoid them altogether. At 21%, they are also one-third higher than personal loan terms but not much better when compared with 12-month personal loans offered by some financial

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