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Credit Card Payments And Fees

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Old 10-14-2010, 06:05 AM   #21
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Re: Credit Card Payments And Fees

After reading throught this thread, there is an additional benefit in accepting cc's that hasn't been mentioned.

Using the cc logos in your advertising will give you more credibility in the HO's eyes - most of the hacks do not accept cc's & I believe it's one more little thing to help seperate your business from them IMHO.
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Old 10-14-2010, 06:31 AM   #22
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Re: Credit Card Payments And Fees

Originally Posted by RemodelGA View Post
For the guys that accept CCs, how do you process them? Meaning do you have a wireless device that you swipe in the field, or do you have them fill out an authorization form and then use a machine back in the office?

Bert - try looking for a local or even national merchant processor for your best rates. Paypals rates are high and terms of service are poor, banks make everything convenient but their rates are not as good as a direct merchant processor. Most processors are middle men, meaning they mark up the rates, but if you can find a direct processor, they'll have the best rates.

Also when signing up, get them to give you the card scanning device for free. Many processors want you to pay a monthly fee to rent the equipment for the length of your contract which ends up being 2-3x's the cost of the actual machine over the life of the contract.
Good info!

Where would I look for this either locally or nationally and what do I look under?

I contacted my bank but I need to speak to a branch mgr, the national office was no help. I don't think they offer this anyway.
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Old 10-14-2010, 07:16 AM   #23
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Re: Credit Card Payments And Fees

I know a guy locally that works for merchant services ltd. He was the one that told me about direct processors.

I cannot vouch for this company from personal experience. I only know a guy that works for them and I know other business owners that he has setup to do their processing and they all switched to the company because they ended up saving a bunch of money each month. Also I believe they are able to offer free equipment. It's at least worth asking about.
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Old 10-14-2010, 08:14 AM   #24
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Re: Credit Card Payments And Fees

Same.....can't vouch for them but their link was posted here a while back. Looks to have good value. No long term contracts. I'm looking at a service myself.


Last edited by We Fix Houses; 10-14-2010 at 10:18 AM.
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Old 10-14-2010, 11:59 AM   #25
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Re: Credit Card Payments And Fees

I got my merchant account through Costco, their rates were the best, but as was mentioned, shop around. Also, it's going to make a difference which CC's you accept, Discover and American Express both have higher rates than Visa or MC. Another issue with CC's is that providers usually want them connected to a brick and mortar store (things may have changed in the past few years, but it was an issue when I got mine ). Make sure you will be getting a service that understands your needs and won't drop you because you don't fit their mold.

The few CC's that I accepted I wrote the card info on the carbon sheets, gave one to the homeowner, one to me, and sent one to the CC service provider.
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Old 10-14-2010, 05:15 PM   #26
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Re: Credit Card Payments And Fees

I went through Sam's Club for my merchant account. They had the lowest percent at 1.9. I pay $15 / mo to lease the card swiper. I don't actually swipe the cards. It's tied into our phone line and I key in the info.

I didn't do my due deligence though and regret going through Sam's Club. It's not a big regret but I could have done better. A gal I met in my BNI group had a better option and when I went to cancel the contract from SC they informed I had a 5 year contract and $500 charge if I canceled before then.
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Old 10-17-2010, 10:41 PM   #27
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Re: Credit Card Payments And Fees

just add the extra price into the bill and keep moving-


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