We offer these Free Credit Card Authorization Forms Templates in MS Word as well as in PDF format to help you prepare your own such form for printing.
Credit cards are widely used these days and almost every company and organization allows payments by credit cards. Even small shops and businesses also allow their customers to make payments via credit cards. Using this option gives certain benefits to the customers as they don’t need to go to the bank to withdraw cash or make deposit request every time they purchase something but they can just swipe the credit card and payment is transferred. Then there is the option of not having a credit card available and still making the payment. This is done when a customer makes payments very often or even many times a week and he doesn’t want to use his credit card each time. Instead, he gives permission to the vendor to deduct certain amount from his credit card and it is done by creating and signing a credit card authorization form.
Key elements of a Credit Card Authorization Form:
- Name of the person holding the credit card
- Type of the credit card
- Name that appears on the credit card
- Credit card number and it’s type
- Name of the bank or credit card company
- Expiration date of the credit card
- Address of the person holding the credit card
- Name of the merchandiser
- Statement that allows merchandiser to use credit card
- Validation of the authorization form
- Frequency or schedule of payments
- Signature of the card holder
Free Credit Card Authorization Forms (Exclusive):
Here are previews and download links for these Free Credit Card Authorization Forms,
Download link for this credit card authorization form template 10 is here,
Market Practices of a Credit Card Authorization Form:
- Getting full details of the card holder:
The first and most important part of a credit card authorization form is where the individual holding the card gives his or her details. This part should include full name of the owner of the card, his mailing address and contact number and email address.
- Adding particulars of the credit card:
Then comes the part where the details of the credit card are added on the authorization form. Starting with the name that appears on the credit card and its possible that it’s different from the holder of the card i.e. in case it’s a company issued card and the holder is the authorized employee of the company. Then the credit card number is added, expiration date is mentioned and the type of the credit card is also specified on the form.
- Giving specific reasons for authorization:
This part is not very common because when a credit card holder signs an authorization form, he is making a statement that he receives goods or services from a vendor very frequently and he allows the vendor to deduct charges from his credit card without getting his permission first. But, in some cases the reason for creating the authorization form is clearly mentioned by the owner of the credit card.
- Introduction of the merchandiser:
Then the details of the merchandiser or vendor are added. Starting with the name of the company, name of the owner of the company, their key person who will transfer the payment and the bank account in which the payment will be transferred.
- Details of payment schedule:
Again this part is not very common because vendors can make payments at any time without following a specific schedule but some credit card holders ask their vendors not to make payments randomly. Instead, they ask them to follow a specific schedule i.e. every week on Friday, the vendor can transfer the payment or on 5th of each month the payment can be transferred. Also, this part can specify how much payment can be transferred and the limit after which it’s important to inform the card holder and get his permission for payment.
Uses of Credit Card Authorization Forms
The most common use for medical authorization forms is for processing medical insurance claims. The application should be filled out in detail to accurately represent the applicant’s medical history. For example, if the applicant has been treated for cancer, the forms may have information about that cancer, any treatments it has received, and the physician’s contact information.
To protect the patient, the individual must typically sign the authorization in order to verify payment. FREE 10+ sample credit card authorization forms in MS Word. Other examples include disability awareness forms, college student forms, and those which are used for purchasing items such as groceries and cigarettes.
Applications are typically filed electronically with the credit cardholder’s bank. However, sometimes individuals may need to fill out a paper authorization form because they forget or misplace their original copy. This is why most banks require an original signed document on file before a cardholder can begin using a credit or debit card. The legal document serves as a verification of the applicant’s identity and current address. It also protects the cardholder by assuring the bank that they will not be accused of fraud if the cardholder does use the card fraudulently.
Many applications ask for more than one form to complete. However, an application only needs one form if the information is already on file with the bank. An example of a credit authorization form would be a hard copy version of a college student’s enrollment verification form. In this case, a single form is all that is needed. Other forms commonly needed include health evaluation forms, immunization forms, and driver’s license forms. All of these forms must be completed in the prescribed order.
A bank account cannot be accessed if the cardholder fails to authorize timely payment or transfer of funds. A typical authorization will contain a signature, which is verified by an electronic signature. This type of signature is considered to be a “PIN”, which means a personal keypad. When using a debit card, this signature is sent through a keypad to an automated machine which verifies the signature. This process is used to prevent the possible misuse of a card.
A credit card payment or a debit card bonafide certificate can be issued in many different ways. These forms can be printed off of various internet sites, created at home, mailed, or sent by mail. Online forms usually offer several different options for customization. If you are creating forms on your own at home, you can purchase a template from an online resource and then modify the forms to create your individualized authorization. If you choose to mail in the forms, you can either purchase a postcard with the authorization already printed on it or have the forms sent to your home by a courier company.