How many rely on credit cards?

Discussion in 'General Industry Discussions' started by J.T.M., Mar 6, 2008.

  1. J.T.M.

    J.T.M. LawnSite Member
    Messages: 31

    I am curious how many of you rely on credit cards for your business? More directly how many rely on them for starting up in the spring? I personaly try not to use them, but this year, with unexpected bills over the winter, it looks like i will be using one for repairs and some new equipment this spring.
  2. RonB

    RonB LawnSite Senior Member
    Messages: 427

    I use mine as a free 30 day loan ONLY. When I need something I try and buy early in the billing cycle and pay it off when the bill comes. Repairs are usually small ($100ish) so when they are needed it itsn't to big a deal.

    I learned my lesson years ago and NEVER carry a balance due..
  3. mowinginva

    mowinginva LawnSite Senior Member
    Messages: 440

    Don't rely on it, but do use it for online or phone orders-ONLY if I have cash to back it up.
  4. Budget

    Budget LawnSite Senior Member
    from Pa.
    Messages: 368

    I caught my credit card co. holding my checks until they were late and hitting me with the penalty. Sent it in same day i received the bill and kept calling to see if it arrived. No sir not yet. and it was always 1 day late. Never had this problem with my cell phone, cable, and electric co. all arrived with in 5days. That was six years ago. I do have a card but only use it when on vacation, cause you can't rent a car with out one. Biggest rip off going i think. If you have cash don't use the card. If you need money try to get a credit line from your bank.
  5. Landrus2

    Landrus2 LawnSite Fanatic
    Messages: 5,049

    You all ways can pay them over the phone. and they got no way out.:waving:
  6. DoetschOutdoor

    DoetschOutdoor LawnSite Bronze Member
    from S. IL
    Messages: 1,818

    Got my first credit card at 18 and stopped using the 2 I had at age 21...I hate credit cards. Only have about 3k total but that is still too dam much for me. I second the idea that CC are a rip unless you are getting a sweet deal and always stay on top. I dont regret racking up that amount bc I used most of it for biz stuff, truck repairs, and one much needed vacation 2 years ago. Oh well, live and learn.
  7. DA Quality Lawn & YS

    DA Quality Lawn & YS LawnSite Fanatic
    Messages: 9,286

    I agree with RonB - use as 30 day loan only and pay off completely each month.
    If you have the means to pay cash for an item up front, do that instead.

    Don't worry about those rewards programs, just a way to suck people in to running up charges and paying high interest rates on cards. In my household, debt is not welcome.
  8. merrimacmill

    merrimacmill LawnSite Senior Member
    Messages: 515

    I think everyone should have one. But prevent using it. We have a few cards on the same account, with different names on each card, just for gas. We put a $1000 dollar limit on them just so things don't get out of control. We spend $1000 dollars in gas, pay it, and do it again. At the prices today, usualy have to pay it 2-3 times a month. They are not to be used for anything else but gas. When an employee buys gas, they turn the slip into me, and I match it up to the bill on the statement. Just to make sure theres no personal gas buying going on. Unless its me:laugh: lol
  9. JohnsonLawn

    JohnsonLawn LawnSite Senior Member
    Messages: 400

    Don't have a credit card, I have only debit cards. I pay cash for everything.:usflag:
  10. shade tree landscaping

    shade tree landscaping LawnSite Senior Member
    Messages: 915

    Get an American Express, you can't carry a balance, everything is due at the end of the month, its basically a 30 day interest free loan on your purchase. Just make sure not to spend more than you can afford!

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