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Old 06-07-2012, 10:27 PM   #1
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Credit Cards


How many of you here take credit cards? I have been thinking of starting this practice to bring in more business. I have turned down several jobs in the past because i did not feel it was worth taking a credit card and it was all the customer wanted to use for payment. I was also thinking this may be a quicker way to get paid if i take debit cards instead of waiting for a check to clear. This is the card reader i was thinking of using: http://payments.intuit.com/products/...processing.jsp
Anyone have any experience with using one of these and if so how do you like using it?
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Old 06-07-2012, 11:10 PM   #2
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Re: Credit Cards


taking CCs will be a significant increase in business for you...or should I say sales//

cant help you with the reader..all mine are taken by phone...

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Old 06-08-2012, 12:27 AM   #3
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Re: Credit Cards


Hey Woodchuck,

I have been taking credit cards for a while. There are a lot of options out there. A few considerations:

1. Although you may only be paying 2.0% - 3%, with a average profit margin of say 20%, your looking at 10%-15% of your profit margin on each job.

2. Its becoming a cost of doing business. You need to offer it.

3. Paypal is slightly higher per transaction fee, but does not have a monthly fee which is nice if you only need this to convert some deals.

4. I have had a great results and rates with merchant warehouse, but they have a monthly fee, unless your doing 100,000k + in credit card purchases I would go with a no monthly service fee.

Hope that helps, any more questions just email me. You can set up a paypal portal on your website. I have never used quickbooks but tI have heard from a few friends that it works good and is easy to use.
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Old 06-08-2012, 01:30 AM   #4
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Re: Credit Cards


We accept credit cards.... Many folks end up paying for the "have-to's" with a credit card. The "want-to's" can be saved up for. I couldn't imagine going back to not accepting credit cards.
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Old 06-08-2012, 06:04 AM   #5
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Re: Credit Cards


Take a look into Square if you have a smart phone. Also if you search around here you will find lots of threads on this subject.

You can cover your processing costs if you know how.
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Old 06-08-2012, 02:03 PM   #6
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Re: Credit Cards


We take cc And get great results for upsales And add'l work when we are there
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Old 06-08-2012, 05:00 PM   #7
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Re: Credit Cards


Square works great for me.
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Old 06-08-2012, 05:43 PM   #8
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Re: Credit Cards


I use Square a lot even though I hate them... I have had trouble with them more than once and they have THE WORST CUSTOMER SERVICE EVER. Im going to look into Intuit. Accepting CC's really is a great thing to offer customers.
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Old 06-09-2012, 12:52 PM   #9
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Re: Credit Cards


Stay away from square !!!!
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Old 06-09-2012, 01:30 PM   #10
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Re: Credit Cards


I use Square and take it right from my smartphone (android) I swipe their card with the little reader they give me, the customers signs the screen and all done. I like the low rates. some places are charging over 3% and then hit you with a 1.50 or 2.00 fee. or monthly fees. My father also uses square on an ipad for a B&B and has processed 1000's with it over about 2 years and loves it. probably 50% or more of his sales. I have not had any issues. I don't use it much because I hate paying money to get money.
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Old 06-10-2012, 09:37 AM   #11
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Re: Credit Cards


Hello everyone. I am new to the forum here. As a far as credit cards go, we currently have a Kitchen and Bath showroom and we do not accept credit cards. For the most part, we have not encountered any major resistance to this from our clients, both trade and retail clients. The main reason our company does not is due to the processing fees involved and the tight margins we work on since we are doing mostly wholesale pricing structure. Depending on the margins you are working with it may or may not make sense.
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Old 06-11-2012, 12:25 PM   #12
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Re: Credit Cards


Thanks for all the input fella's. Definitely going to do it then. I like the looks of Intuit set up and i will be getting the printer too. Some folks just prefer the paper receipt so i will go that option too. I saw the "square" on tv so i began researching it and found Intuit and now i see they have a commercial on tv now too. I dont suspect i will be using it a lot but it would be a nice convenience for the customer and i on the long run.
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Old 11-01-2012, 08:51 PM   #13
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Re: Credit Cards


After reading this thread I ordered a Square for my iPhone...that was 4+ months ago..

Today I used it twice for the first time...don't know why I didn't use it sooner..actually got it right before we went a family summer vacation for a few weeks...and I forgot I had the thing!!.
Did a small job today and it was a family friend..came time to pay and she asked how I wanted it..I said some on a check..and let me try out this Square thingy..so we swiped $50 on it..simple..emailed receipt....cost me $1.38 for that transaction..2.75%...flat rate..

Went on to the next gig..was working and customers sister stopped by and wanted to "book" me for some work before Thanksgiving.lives in next building of a condo down here...wanted same thing I was doing for her sister..I gave her the price and she said do you take credit cards?...Yes I do I said....$450 swipe..cost me $12.37..

Sitting at home I logged on to see when funds would be available...tomorrow morning!!.

The problem I saw with people using the Square and delays in receiving funds is non-swiped transactions (card not present)..or very large amounts with no established track history.

We have advertising starting this month and I listed that we take cards..so I was glad to get my feet wet before the snowbirds arrive and we get busy..nice not having to chase down money and people feel more secure using their credit cards..I will of course start building that 2.75% into my prices...today it cost me $13.86 or so to get paid instantly..on $500..I can get used to it..
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Old 11-01-2012, 10:33 PM   #14
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Re: Credit Cards


Square and Intuit's mobile reader both work well.
I prefer Intuit, just because I use Quickbooks.

As a sidenote, make sure your phone is compatiable.
Some phones don't work with the readers.
Also, if you have a cover, it may need to be peeled off when you use the reader.
Ya know, a silicone case. The plug doesn't go all the way into the jack with the case on.

If you want square, and don't want to wait, you can pick one up at Staples.
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Old 11-01-2012, 11:09 PM   #15
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Re: Credit Cards


Quote:
Originally Posted by barry1219 View Post
After reading this thread I ordered a Square for my iPhone...that was 4+ months ago..

Today I used it twice for the first time...don't know why I didn't use it sooner..actually got it right before we went a family summer vacation for a few weeks...and I forgot I had the thing!!.
Did a small job today and it was a family friend..came time to pay and she asked how I wanted it..I said some on a check..and let me try out this Square thingy..so we swiped $50 on it..simple..emailed receipt....cost me $1.38 for that transaction..2.75%...flat rate..

Went on to the next gig..was working and customers sister stopped by and wanted to "book" me for some work before Thanksgiving.lives in next building of a condo down here...wanted same thing I was doing for her sister..I gave her the price and she said do you take credit cards?...Yes I do I said....$450 swipe..cost me $12.37..

Sitting at home I logged on to see when funds would be available...tomorrow morning!!.

The problem I saw with people using the Square and delays in receiving funds is non-swiped transactions (card not present)..or very large amounts with no established track history.

We have advertising starting this month and I listed that we take cards..so I was glad to get my feet wet before the snowbirds arrive and we get busy..nice not having to chase down money and people feel more secure using their credit cards..I will of course start building that 2.75% into my prices...today it cost me $13.86 or so to get paid instantly..on $500..I can get used to it..
Got mine a few weeks ago. I had a merchant account when I first ventured out. Too many fees. Cost me $75 just to have the thing sit for a week. I canceled that account after a year. I saw the Square in Staples. It was $10 with a $10 rebate.

I set it up and it worked like a charm. Can't wait to use it on a customer.

Concerning working it in, make sure that it is figured into your overhead or that you offer a "cash discount" not a CC fee. Most card companies have policies banning you from charging a CC fee and there may be laws in your state against it.
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Old 11-02-2012, 12:45 AM   #16
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Re: Credit Cards


Quote:
Originally Posted by woodchuck2 View Post
How many of you here take credit cards? I have been thinking of starting this practice to bring in more business. I have turned down several jobs in the past because i did not feel it was worth taking a credit card and it was all the customer wanted to use for payment. I was also thinking this may be a quicker way to get paid if i take debit cards instead of waiting for a check to clear. This is the card reader i was thinking of using: http://payments.intuit.com/products/...processing.jsp
Anyone have any experience with using one of these and if so how do you like using it?
People will spend more because they just swipe the card and it's done,
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Old 11-02-2012, 06:22 AM   #17
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Re: Credit Cards


To answer the issue of fees for using CCs, you should always pass the cost on to your customer in the form of a cash discount. That is very common anywhere you use a credit card for large purchases. If they don't have the cash, they will be glad to reimburse you for the fee. Trust me, with a credit card, it won't phase most people to pay an extra 3%. If your buisness is anything like mine, you can't cut into the profit margin, or you are better off without it.

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Old 11-03-2012, 06:27 PM   #18
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Re: Credit Cards


i use square one. free card swipe and app for your phone. and 2.75% fee. i couldn't find a better deal.
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Old 11-03-2012, 06:29 PM   #19
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Re: Credit Cards


Quote:
Originally Posted by ryanshull View Post
To answer the issue of fees for using CCs, you should always pass the cost on to your customer in the form of a cash discount. That is very common anywhere you use a credit card for large purchases. If they don't have the cash, they will be glad to reimburse you for the fee. Trust me, with a credit card, it won't phase most people to pay an extra 3%. If your buisness is anything like mine, you can't cut into the profit margin, or you are better off without it.
I think most business's are like yours, they cant cut into their profit margins..otherwise there is no point in being in business

We take credit cards, we do financing(way bigger charge)..everything is accounted for in our pricing. Meaning if a customer decided to pay cash they get an additional percentage off.

Brings you more business, looks more attractive with than without for cash buyers. Win win.
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Old 11-03-2012, 06:57 PM   #20
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Re: Credit Cards


As long as one truly understands the cost of CC processing and how their business can handle it, it is a very useful tool.

Without a real understanding of where the fee is to come from, they can syphon cash from places one cannot afford.

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