Credit cards

[Rad]

So much to learn, so little time!!!!

How many of you accept credit cards (Debit Cards) in your stores?

What is the average amount of credit cards usage per month?  Percentage of Credit Card sales to Cash?

How much are your credit card fees?

Who do you use for Merchant Services?

Thanks again in advance!

David

[vidvalt]

I was always against getting a credit card machine always felt that they should be paying us to accept them    but since the debit cards have gotten so big I finally took the plundge and got one 2yrs ago ( store is 20 yrs old) and for anyone on this fence on this matter GET ONE!!!  You can lease the machine or buy it out right ( look around there are some great deals out there: I recommand buying it its cheaper in the long run)

1. You don't need the pin pad you can run debit cards like any credit card.
2. Shop around for rates they vary BIG TIME and try your bank most offer the service too or have an recommended out sorcing company
3. Don't take Discover Cards  rates are VERY high for the card
4. ASK questions about how much is statement fee, swipe fee. charge back fee etc and the MOST important question HOW LONG does it take for the money to hit your account!!!!  you may get a good rate but its no good if it takes 5 days to hit your acct
 
I average about 10% a month of my month gross  in credit cards but tends to go up in the 4th quarter do to the holidays

Dan

[lesliek]

I just recently added a machine and while looking into it I found it best to buy my machine outright.  I took a gamble and purchased mine on Ebay for about $250 with a 5 year guarantee.  Leasing was $50 a month for years.

Go for it!