Credit Cards

Teetorbilt

I get asked a few times every year, usually on smaller jobs. Time to run.

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mahlere

never a hassle for me...heck in the time it takes me to book my hotel/airline/car/dinner/etc, i have already used my points...it's easier than paying with my credit card.

but even when we get great deals on tickets, we upgrade to 1st class with points.

mahlere

just because you use credit cards doesn't automatically mean you are living above your means. just because some people can't comprehend how to use credit cards responsibly, doesn't mean that all people can't. I know many people who make great money, can pay for everything in cash, but prefer to use the protection and the benefits that cc's offer, then pay them off every month.

if you do any work for residential/light commercial, set up a merchant account. you will benefit greatly from it. if you do commercial work, make sure you take AMEX, many businesses pay things exclusively with AMEX.

Teetorbilt

Basic. If you can't afford it, don't do it. Going out on credit only pays the banks, people doing it scare me.

Free miles? convince me that somebody is not paying for that. BTW, I know how it works. Most people never claim them, same as the rebate scheme that is so popular now.

I prefer to deal with the basic 'Honest days work for an honest days pay'. It may be old but the banks aren't making any money.

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Joewho

I'm with teetor too. Screw credit cards.

Just my own experience with them has made me turn against them.

I actually worked for a credit card company here in vegas......for 2 days.

they actually had sales meetings where we were told about targeting marginally credit worthy people. Not to sink them, but to make a buttload of money off the interest, late fees, overdraft fees and penalties. Does anyone have a copy of a CC Co's P&L where it details the amounts made on those charges specifically? I don't think they report those figures, and I think they are getting some heat because of it.
So, I don't care if someone wants to pay with a credit card. I don't want to deal with them and I certainly don't want to pay the percentage and/or transaction fees, or pos fee. Not my business how a person wants to pay, their finances are private matters. WHATS IN YOUR WALLET? To me that's pretty damn ballsy. Funny commercials, but still.

Don't mind my posts, I'm a little wild lately.

STUMPFOOT

Personally I think credit card companys are criminal. they make billions every year of the backs of the people. but we are fast becoming a plastic nation. By 2008 63% of transactions will be plastic, I dont think it makes much sense to lose money because we dont want to take someone elses card. if they want to use it to pay for the work and materials you provide thats there decision.

mahlere

if you don't like them, don't use them.

in this world it's ok to be wrong, and it's ok to be absolute. but when your absolutely wrong, it just makes you look bad.

whether you like credit or not, it's the foundation for todays society. without credit almost no one would be able to buy a house or a car. Don't like credit cards, no problem.

we use AMEX for our business purchases. we can write a check instead, but why?

using amex gives me better protection if there is a mistake. A lot of what we buy has to be paid with a CC. We get the travel benefits. It gives me an extra 30 days to collect money.

we take cc's because a lot of companies purchase everything with credit cards. Many of the smaller government agencies only use credit cards.

there are advantages.

if you are incapable of using credit cards as they are really meant to be used, then don't use them.

again, if you are dealing with residential or light commercial customers, get a merchant account and accept credit cards.

the 1.5% that you pay in cc fee's is nothing compared to chasing down a bad check or waiting for the check in the mail.

tzzzz216

Your right Teetor , They can also stop payment on it too just like a check .

George Z

Had all kinds of problems chasing checks, bad checks etc.

Now almost 80% of our sales is done through credit cards,
there has never been a problem. Never

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George Z

More change orders with credit cards
Better collection of deposits and balances
More customers because we take credit cards (they say so)
No running arround picking up cheques and depositing them.

Noticeable increase in business because of credit cards.

The problem is...?

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Brian

I'm with George on this. We close a lot of deals very easily because we take credit cards. I don't need to drive back to the customer's house at night or on the weekend to pick up a check. They FAX the signed contract with their CC info and the deal is done.

Brian Phillips

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boman47k

I agree they can still stop payment just like they can with a check. I think there are those that are less likely to stop cc payment. Either way, its a chance you take. I also think cc will garner business that you otherwise will not get. This outweighs the risk of nonpayment imo.

Mater

I'm with George too. I have no credit cards, I don't like to use them. I will pay for my personal things with cash or check when I can afford them. In my business, on the other hand, if someone wants to pay with their cc, then by all means, who am I to turn down someone's plastic Benjamins? Also, you will have more business. I don't know about the rest of you, but once in a while I do use my dc going through wendy's. It's nice when I don't have cash on me. Is it easier for you all to use the cc or dc on a drive thru, or have you not seen your spending go up at fast food rest.?

sttryffe

Hey George

Do you use a moble processing unit? How do you set up this whole credit card stuff???? Thanks!

George Z

We call it in

We use them:
http://www.moneris.com/index.php

I think they offer some services in the US
I am not the one that set it up, I don't know how, but I think it was simple.

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KellyPainting

I think our views on credit cards come from our own experiences.

If you think about it on a psychological level, we judge things by our own problems... like if we have had problems with our own credit cards, or if we only buy with credit cards when we don't have the money, then we feel that others do also. It's like anything else in life..

example:
"Credit card company's are thieves" = we've been screwed our selves.
" They don't have the money to begin with" = We don't have the money to begin with.

We forget that some people are in a different universe than us when it comes to money...some have allot more...save allot more, and our better with budgeting than us. We just project our own thoughts on what we we would use cards for instead of the small percentage of people who
use them to the benefits they provide.

mahlere

well said.

MakDeco

I have thought about taking them. I use my AMEX for everything and pay it off monthly.

To be honest in 15 yrs of working I can not re call a customer asking if I take them or they wanted to pay with them.

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premierpainter

So I should assume that you never use any CC's for your purchases? What is to make you think that these people don't pay off the total amount at each month's statment?! We charge EVERYTHING and have money at each month to pay off every card to zero. I have over 400k miles on one card alone- I guess your right, that free trip to anywhere in the world is going to suck because I can't afford anything

paint works

I have the wireless unit, It is free if you sign a contract, sorta like a cellphone contract. Unit is 800 dollars if you by it. I got all setup for $00.00. Let me know if you are interested. I can email you the my contact.

Jason