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Anyone stop accepting credit cards?

Discussion in 'Business Management' started by Zendavor Signs, Jul 27, 2018.

  1. Zendavor Signs

    Zendavor Signs Member

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    I am so tired of dealing with credit card processors. I feel like I am constantly getting hosed. I am considering to stop accepting credit cards. Our business has shifted a lot over the years to where we are not dealing with the general public very much. My annual fees are typically in the $2000-$2500 range. So far this year it is $2200. That is a lot of money. It is exhausting negotiating good rates, switching companies, etc. I know the customers that will be most disappointed are the ones that work at large companies that will now have to go through hoops to get a PO, etc. Just curious if anyone out there ditched cc's and what your experience was.
     
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  2. asd

    asd Member

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    no, as much as I hate it, we still take cc as a form of payment
     
  3. tim99

    tim99 Member

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    we still accept card for anything under $100. anything above that has to be cash/check
     
  4. bob

    bob Major Contributor

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    Never started. To quote the late Wolfman Jack: "Cash, check, or money order."
     
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  5. ams

    ams Very Active Member

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    Credit cards are a must in todays world. Too many people don't carry cash and their checks bounce. Use FirstData for your processing, they are the ones who actually process it. Everyone else is a 3rd party company who jack up the costs. You can go on Amazon to get a cheap credit card machine and then they can set it up. My fees went from 3% on Visa, MC and Discover (4.5% on AMEX) down to 1.29% and 1.89%, no monthly account charges, no statement charges, nothing.

    My old processor would send me a big bill at the end of the month, but FirstData charges per transaction, I often have 3 cents come out of my account, sometimes 10 or 20 cents. So it's way easier to manage,
     
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  6. VanderJ

    VanderJ Merchant Member - Printer Parts and Sevice

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    Credit card companies have a racket going on. Charging on both sides and taking no risk whatsoever when it comes to fraud. That being said, we wouldn't be in the E commerce business without them.
     
    • Agree Agree x 1
  7. Zendavor Signs

    Zendavor Signs Member

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    I like this idea. Some kind of a cap. I had an argument with a customer wanting to pay for a $20k lighted sign with his cc. He just wanted the rewards, it was nothing to do with convenience. That is what irks me about cc. I really wished that day I did not accept them.
     
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  8. Charlie J

    Charlie J Very Active Member

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    We use square, mostly as a convenience to our customers. It's also nice when a customer wants to pay on the spot with a credit card vs waiting 30+ days for a check.
     
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  9. ProColorGraphics

    ProColorGraphics Very Active Member

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    I see a lot of places saying "Prices quoted are cash or check. Credit Card payments will be charged a 3% fee".
     
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  10. Texas_Signmaker

    Texas_Signmaker Very Active Signmaker

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    Well, you cant do anything about the mafia... They aint going away.

    Ask Gino, he has a processor that PAYS him.
     
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  11. Billct2

    Billct2 Major Contributor

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    No. One of my largest clients only pays with an emailed one use credit card # that is one time use only assigned to one invoice.
    I prefer a check when the client asks how to pay.
    Who has cash anymore?
    There was a time when certain industries could be counted on to pay in cash...now they are getting all their income in plastic too.
     
  12. TimToad

    TimToad Very Active Member

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    $2,200 on how much in overall charges?

    At the rate we pay, that amount would be levied on over $120,000 in revenue paid for with credit cards. If even just half those customers went elsewhere, can your business survive that kind of revenue hit just because you're a little miffed about paying a couple percent on transactions?

    We just chalk it up to being a cost of doing business and those charges are tax deductible.

    Your average prices should reflect covering the difference between those who pay by cash or check and those who pay with a credit card.
     
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  13. 2CT Media

    2CT Media Very Active Member

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    So add a Credit Card Fee to the Invoice, it is perfectly legal now as of 2015 I believe and Merchant agreements can not specifically stop you from doing it. You can also legally drop AmEx and only accept other cards and Processors can't stop you.

    https://www.thebalance.com/can-businesses-charge-a-credit-card-convenience-fee-4155333

    We process nearly $500,000 a year in Credit Cards it is too large of a business loss for our client's convenience, we build it into our overhead.
     
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  14. mark-s

    mark-s Active Member

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    At my shop we are COD only have been for years
    mark-s
     
  15. Bly

    Bly Very Active Member

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    The fee is worth it to get paid right away.
    Here we can pass the charge onto the customer but we don't.
    Amex have reduced their fees to the same as other cards now and lots of people love getting points so we use that as a selling point.
     
    • Agree Agree x 1
  16. TimToad

    TimToad Very Active Member

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    Reading threads like this and others about how difficult customers are to deal with, how they pay is such a hassle, how the artwork they send us is such pain to work with, how they pit us against each other, how they come in to the shop too much, or not enough, how they don't pay fast enough, blah.....blah.....blah........

    WhyTF are some of you even in this business?

    There are plenty of other business types one can do that make more money, have a steadier source of customers, more consistent pay scales, etc...

    The HVAC business next door is busy year round, all day everyday and I'm sure their hourly rate is higher. BUT.......... they are on call nights and weekends, have to work in attics and on rooftops on days like this where it has been over 100 degrees every day, deal with getting parts from out of state or be stuck on a job, drive all over the area for a minor repair, etc.

    FFS! I love doing this and have for 40 years. Creating something beautiful out of nothing that helps my community look better and its businesses be more successful is really something to be proud of. In our eyes, the client is not our enemy and we actually love the satisfaction of taking their rudimentary, poorly or barely articulated ideas, bad artwork, limited budgets, etc. and making something good and effective from it. The compliments, thank you gifts, referrals, future business, etc. are what help us get through the more challenging days.
     
    • Agree Agree x 1
  17. Zendavor Signs

    Zendavor Signs Member

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    Zoinks man, relax. This comment is veering WAY off topic.
    To the others that posted helpful advice, thank you. I suppose it is just a cost I need to absorb. I don't want to inconvenience customers or appear to be backwards.
     
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  18. TimToad

    TimToad Very Active Member

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    I'm perfectly relaxed. You were the one throwing a hissy fit to begin with because an expense that you can and should be factoring into your prices and is fully tax deductible causes you far more headaches than it does for the vast majority fo us.
     
  19. Gino

    Gino Major Contributor

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    Once again, you don't have your facts straight. They don't pay me..... the customer pays their own fees. It's built right into the transaction by the CC company. However, if anything over a certain amount goes through in a month's time, we can get a cash back from them. It's all perfectly legal and the way more and more companies are starting to do business when it comes to CC.

    Some people/companies don't mind.... while others think it's wrong. Well, someone has to pay for your convenience, huh ?? Who better than yourself ?? I'm done paying for other lazy a$$wipes notions things should be free to them.
     
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  20. Texas_Signmaker

    Texas_Signmaker Very Active Signmaker

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    Ask Gino, he has a processor that PAYS him.

     
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