Credit Card Advise

[liberated]

I Cant Stand It Any More ... Its ADVICE!

Actually a few of the suggested changes are excellent; therefore, it is
good ADVICE. :icon_mrgreen:

 

[Smokey Bear]

I never accepted credit cards, so I don't have a form handy. BUT putting the number on the form - or having a "swipe" of the card - either manual or electronic, gives you a lot of protection from them claiming that the card number was stolen etc. Do a pencil impression of the card when you're there (and if you always do that, you get a better interest rate on your plan than if you're mostly MOTO). Or get one of the machines or an electronic card swipe.

Also make sure that they fill out the form with their BILLING address for the card. Also make it clear on your agreement that if they attempt a chargeback, that
they *will* be reported to all major credit bureaus as a delinquent collection account. End of story. Even if they pay, they will still have a paid collection account on their credit for at least seven years; this is an extremely strong motivator against chargebacks and will be your primary weapon in motivating people to pay after disputing directly with your merchant bank fails. It’s also perfectly legal as long as the information you report to the credit bureaus is up-to-date and accurate.

 

[Anthony Sullivan]

I use paypal and transfer the $$$ to my business bank account as soon as it shows up. They charge 3% to handle the transaction, and take pretty much all CC's. It's convenient and thus far I have not had a problem.

 

[Greg Wasik]

my company takes credit cards. i think we pay around $20 in a monthly fee and then around 3.5-4% of the charge goes to the processor. I can't put an exact $ on it but i'd say we gross a couple $ thousand more each year b/c we to take CCs.

as to charging more for a CC, yes you are not allowed to do that. however, you are allowed to provide a cash discount. hence that is why the gas stations show lower prices for cash. its a silly distinction IMO but that's the difference - cash discount = okay, CC surcharge = not okay.

 

[Tamara Vargas]

thanks for all the tips!

 

[nathangurley]

It's almost unbelievable, but I can believe it. I got burned once on giving a value before I got the money. Of course they didn't like the value so I got to keep the appraisal. Now I don't even come close to an opinion until the check is cleared. No credit cards.