i have recently had a credit card company ask if i would use thier credit card machine . would anyone rather use a credit card for work on thier car , for example if you had a rollcage installed would you like to pay cash or credit ?
www.dominickracing.comI like paying everything with my debit car…but that obviously comes out of my bank acct. Although I don’t mind having to pay for work with cash- heck thats a done deal- I just hate going to the atm…dollar banks are sparce comparied to the others.
i have been contemplating on getting a credit card machine. so many people do not have cash anymore. i have been using paypal for customers who want to pay with credit card. i am a small shop so i do not have the volume that can write off the expense of a credit card machine.
personally, i pay cash for all my car parts. credit cards and cars dont mix-- to easy to max out a card.
however, majority of your customers will pay w/ a card. now the problem lies in will they fuck you over and do a charge back. then you are fighting credit card company for money.
best bet is to get the machine, but limit what people will charge or only let the work leave after they sign off that it is completed as desired so they can not charge back.
I use credit cards when I’m given a good incentive (by the company) and then pay it back before paying interest. Otherwise it’s always cash or debit. I don’t carry big funds around anymore, it’s easier to just debit it.
I bitch anywhere I go that only accepts cash… for example the dog groomers only takes cash, and I got to make sure I have money on me, not always what I have on mind when I’m picking the mutt up inbetween appointments and home
From a friend’s experience being in business (car audio shop) for 14 years, he accept all cards except American Express. American Express will take the customer’s side and pull the funds before even thinking about who is right… but he’s never had a problem with any other companies. If you do get a credit machine, be sure to get a mac pin pad, the credit companies charge you a percentage, but mac (using a pin not a debit) don’t charge.
Before committing to the guys who approached you, talk to your bank and other companies, see who is the most competitive, the chargeback rates are negotiable… A different friend will give a cash discount (still with tax, but taking a % off) for paying cash, but usually not until the job breaks a few thousand dollars
It depends on who I am dealing with. I will normally pay cash or credit depending on what it is. If it is under 200USD, I will give the shop cash, but if it is over, I use my credit card.
Me, I personally avoid places that do not accept credit cards. I typically don’t carry that much cash, so it’s normally credit/debit card for me. Also, I try to buy as much of my daily items on cards that give cash back. I do NOT carry a month to month balance. I just want that extra 1-5% back. American Express Blue Cash FTW!
Here’s my advice working at a bank… and having worked for a credit card company ( american express ):
In regards to YOU ( the merchant ) not getting your money if someone uses an ACTUAL credit card or their debit card as credit ( there is a difference ) You are always entitled to your money–the bank or institution they are with is who holds the accountability and then must collect.
Example 1: If I make a purchase using my debit card as CREDIT this and the transaction goes through…you the merchant gets paid ( whether or not my acct has funds available at the time the item is posted ). I then would go negative in my acct. and owe the bank as you have been paid. ( based on what I know )
Example 2: I TRY to make a purchase doing a POS ( point of sale debit ) where I must enter my PIN… 1. My transaction goes through and my account is debited at that moment or 2. the transaction declines. in this situation the vender is typically safe. ( I do believe there is some risk for a merchant to allow DEBIT transactions though - not sure how though sorry )
Know if a customer disputes a charge no matter what it is…all you, as the merchant need to provide is proof of that purchase. ( actually you may even turn those over to the card companies ( visa, mastercard…ect…).
My opinion is if you have a big enough business and money is flowing strong into it then invest in the machine…if a number of your customers are cash payers and that suits you then you get to save some $$.
Just bump all your shop rates to provide the difference to provide credit card payments to pay for the equipment and credit company surcharge. That’s not “charge the customer for the convenience to use credit, but charge everyone enough to cover the extra expense to provide the convenience”.
Problem solved?
Exactly I am not really sure how much those machines cost BUT I do know if you have to think about it…well then you probably don’t need it.
I know this isn’t the most professional approach, but what about just setting your computer up and letting the customer pay you via PayPal (or other) over the internet? You don’t need a machine for that.
that is waht i have done in hte past. the rates are not too bad and not required all the time.
Do you work for Dollar? I used to work there in the Small Business Dept.
It is proven that Americans spend more with credit cards than cash. If you want to make more money, then pay that 3% or whatever they want from you, and do it up dirty style. Some of the newer machines will let you process checks immediately as well. It reads the numbers off the check and turns it into an ACH.
It can be a bit cheaper to run through a internet credit service and don’t buy their card reader, since you can buy cheaper ones on-line. The company that Carpathian Systems (the computer store I run in Millvale) uses java app on their secured website to process the information. No special supplies and quick approval of cards. We only take mastercard or Visa.
lol actually I work for Citizens Bank. BUT I am stuck with my Dollar Bank acct. I have just been using it for sooooo long that i never moved my funds over to my citizens.
That’s funny, I never opened an account at Dollar until shortly before I left.
I pay credit for everything…pay off my blalnce every month…Discover card has a decent cash back program…I am up to $135 now this year…and they never made a $0.01 off of me.
Barter is the new hotness
If I cant use a debit/check card, I shop else where. It’s just a personal thing, but using the card is the easiest way to track expenses for us. Once every two weeks we download the quicken file from the online banking, balance the check bok with quicken and life is good. (without money, but good) :LOL