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Now Accepting Credit Cards!!

Discussion in 'Business Operations' started by Stonehenge, Feb 5, 2001.

  1. John Allin

    John Allin LawnSite Bronze Member
    Messages: 1,488

    I gotta check with her highness. You know she does the finances. She's sleeping now. She has "first duty" tomorrow. We have crews starting at 2 AM. I'll ask her in the morning and let you know.
  2. KirbysLawn

    KirbysLawn Millenium Member
    Messages: 3,485


    I had mine through Centura, $10 per month if no activity and nothing if I had activity (except the %). $70 seems like a lot, I would shop around.
  3. BillNero

    BillNero LawnSite Member
    from IL
    Messages: 29

    Mike Nelson ...........

    Your quote seems EXTREMELY high to me. Check with the Bank your business account is with. For what its worth - I started with a third party CC vendor. After a year of them I researched better rates with their competion and got it. The funny thing is - as soon as I started to switch, the first company dropped their rates even lower.

    Eventualy - our Bank pursued us - lower our rate from 1.80 to 1.67% and NO Transaction fees.


  4. Mike Nelson

    Mike Nelson LawnSite Senior Member
    Messages: 416

    OK thanks for the heads up,I really appreciate all your input.

    Kinda thought it was high,this was one of those telemarketers calling.

    Thank You :D
  5. Stonehenge

    Stonehenge LawnSite Bronze Member
    from Midwest
    Messages: 1,276

    I'm a little further into the process now, and can share some additional information:

    The rate I have thus far is 2.3% for Visa, 2.6% for MC. For an extra charge I can take AMEX and Discover. But there is also an $8/mo charge, and $0.20 per transaction. The charge I'm curious about is the setup. To run the numbers through some software via the internet, the cost of the software is $375. That seems high.

    The other option is to have one of those card swipers in the office. Those are $265. Also seems high.

    And here's the skinny on the discounts for cash. According to the paperwork I have, I can't charge MORE to a customer using a credit card, but I can offer a discount to a customer for using cash, check or chickens instead of the card.

    And it appears that you can split payments between credit and cash/check. Might make it easier to sell the little extra they want but can't afford right now.
  6. GrassMaster

    GrassMaster Senior Member
    Messages: 447

    Hello Everybody:

    48% of our business so far for the past 3 months is charge card & growing at a rapid pace. Last year the first 3 months was about 32%!

    Don't know about where you live but here The Sams Club adds the percentage back on your bill if you use a charge card. The Charge card companies are greedy & I don't think they would like loosing Sams Clubs Business.

    Butt the Small Business Man I'm sure the Charge Card Companies would give you the Shaft in a Nano Second?

    Everybody uses plastic Now, I only use it on the Internet!

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