Credit cards

[nvarras]

I had an account tell me that other labs they work with give them 3% discount on their bill if they keep a credit card on file. First I’ve heard of it. Anyone do this?

 

[JMN]

I had an account tell me that other labs they work with give them 3% discount on their bill if they keep a credit card on file. First I’ve heard of it. Anyone do this?

On file and pay per case instead of statement I've heard of up to 5%

 

[Contraluz]

I had an account tell me that other labs they work with give them 3% discount on their bill if they keep a credit card on file. First I’ve heard of it. Anyone do this?

So, you not only pay 3% for processing a CC, but you have to give away an additional 3% just because you keep the card on file?

 

[JMN]

So, you not only pay 3% for processing a CC, but you have to give away an additional 3% just because you keep the card on file?

I was told that raising fee's by 6% (or whatever) cancels this out and for one year having no effective fee rise the results of never again having to worry about when someone pays.

 

[Contraluz]

Sure, I get that. But increase that, plus whatever you need to increase due to inflation and amped up fees, you end up Increasing your prices by not only 6%... sure, it is a one time thing, but still.

 

[JMN]

Sure, I get that. But increase that, plus whatever you need to increase due to inflation and amped up fees, you end up Increasing your prices by not only 6%... sure, it is a one time thing, but still.

Not my philosophy, but that's how it was explained by John Wilson. The Californian who gave out orchids to offices as marketing gifts. SO....

 

[nvarras]

So, you not only pay 3% for processing a CC, but you have to give away an additional 3% just because you keep the card on file?

But you get to run the credit card on the first of every month. Or on another date if you want. That’s what you get for the 3%. Helps the cash flow during those months where it seems like everyone is taking their time paying.

 

[CatamountRob]

Just tell them you don’t offer that and be done with it. If the only difference between you and the other guy is a 3% fee you’re in trouble with the account anyway.

 

[SJ]

The level of pettyness in this business is amazing

 

[8ek]

Give them a discount if they pay on time, ever. I accept cash, checks, and large pizzas.
I was being a smartmouth. They get a discount for paying on time, no interest stacking up on their overdue money.