What do you guys think of accepting credit cards? Seems silly to pay the credit card company but on the other hand every other type of company takes a credit card.....
Credit Cards
- Thread starter Garfield
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If taking credit cards means the difference between getting a job, or getting paid, and not, it might be worthwhile. Might also reduce the problems and costs of bad checks.
Shop around for a card processor. Sometimes places like Sams Club or Costco offer better card processing rates for small companies than banks.
You can always adjust your rates to cover the fees and offer a discount for cash.
Philbert
Shop around for a card processor. Sometimes places like Sams Club or Costco offer better card processing rates for small companies than banks.
You can always adjust your rates to cover the fees and offer a discount for cash.
Philbert
There was a short discussion about pay pal and google checkout in the business management section below. If you are only doing a few per week or less, this seems like a great option - as long as they payer is willing to go along.
HolmenTree
ArboristSite Guru
I've been thinking about setting up for cards. It seems more people today are asking if I accept credit cards , probably because of todays tougher times.
Rftreeman
Addicted to ArboristSite
I have accepted cards though paypal a few times but their fees are a little high if you ask me.
gr8scott72
Addicted to ArboristSite
The studies on credit cards are crazy. You will spend on average 20% more by using a credit card at a resturant. It has to do with the disassociation of money when you use it. I'm sure those figures carry over to most other parts of money spending. (like tree work)
I have it on my list of things to do. Probably start of next season, spring or so.
If someone is likely to spend 20% more than they normally would with me be me being able to take a credit card, wouldn't it be worth the 3% charge? (or whatever the charge is.)
we are getting more and more people paying us on credit cards. there are a lot of folks round here that live there whole lives on credit and just cant aford to pay lumpsums out of pocket. id say go fer it.
juststumps
ArboristSite Guru
that's funny !!!! i'm the exact opposite... i'm a lot freer with cash, than i am with the plastic !!! because i have to pay for it at the end of the month...
i think some people use plastic, because they live above their means... but i think alot use them now , because they know where the money is going, and the bonus things you can get...
i leave the house with a wad of cash, by the end of the week, i have no idea where it went.. plastic i know.
also, if i don't agree with something, i can hold the charge, or get a refund...if i get ####ed on a purchase,,,,, all i do is call the CC company, and the vendor has a change of heart !!!
Sunrise Guy
Addicted to ArboristSite
We accept credit cards only because it helps us get a few jobs each month that otherwise might fall by the wayside. Times are tight, so the cards help some folks out.
A word of warning: Most credit card companies that you contact, or that contact you, are middlemen for middlemen for middlemen, etc. Each middleman takes a part of the cut you pay for charging customers on their plastic. I signed up with a fast-talking salesman who promised me the sky and then couldn't deliver. His company canned him and then gave me a "take it or leave it deal" that was twice what I was promised, in writing, on my contract. I could have sued and probably would have won, but I didn't have the time to go that route. As it stands, I pay about 2.3%. Since I took credit cards in my last business, I know this is a fairly good rate. On top of that rate, though, I also pay $8/mo. for a statement fee, and $15/mo. if I don't take any plastic for any given month.
Get everything in writing on a contract and even then, demand to speak to a supervisor who will sign off on your deal. Watch out for early termination fees, too. Since the company I'm with pulled a fast one, I got the termination fee cancelled, but stuck with them, anyway. They have turned out to be OK. I do automated approvals via cell phone. You can do internet approvals in the field via fancy remote terminals, but watch out for those costs.
A word of warning: Most credit card companies that you contact, or that contact you, are middlemen for middlemen for middlemen, etc. Each middleman takes a part of the cut you pay for charging customers on their plastic. I signed up with a fast-talking salesman who promised me the sky and then couldn't deliver. His company canned him and then gave me a "take it or leave it deal" that was twice what I was promised, in writing, on my contract. I could have sued and probably would have won, but I didn't have the time to go that route. As it stands, I pay about 2.3%. Since I took credit cards in my last business, I know this is a fairly good rate. On top of that rate, though, I also pay $8/mo. for a statement fee, and $15/mo. if I don't take any plastic for any given month.
Get everything in writing on a contract and even then, demand to speak to a supervisor who will sign off on your deal. Watch out for early termination fees, too. Since the company I'm with pulled a fast one, I got the termination fee cancelled, but stuck with them, anyway. They have turned out to be OK. I do automated approvals via cell phone. You can do internet approvals in the field via fancy remote terminals, but watch out for those costs.
Great advice
Thanks for the thoughts. Sounds like it's a resounding yes on taking cards. Now just whether to go the paypal route or sign up with someone.
Thanks for the thoughts. Sounds like it's a resounding yes on taking cards. Now just whether to go the paypal route or sign up with someone.
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