When you allow your customers to enter your store and use their credit cards to pay for their purchases, you provide them with a major convenience. You’re not forcing them to run off to ATMs in order to retrieve cash. By accepting their credit cards, you also provide your customers with great peace of mind. Credit cards, as you know, allow cardholders to pay their balances off over time.
However, it’s important to note that one of the best aspects about your credit card-friendliness is your enabling of your customers to enjoy extra perks and bonuses. By making purchases in your store, many customers collect points, rewards and other special benefits simply by using their credit cards. The fact you provide shoppers with such opportunities is a huge selling point for your business.
Here are three credit card benefits your customers love the most:
1. Extended warranties.
This is an especially important benefit for purchasers of big ticket items. When paying with a credit card, a customer can comfortably deny the additional insurance often offered to them and rely on their credit cards to offer added protection for their purchases. Extended warranties are regularly considered among the top benefits of credit card use.
Just ask Ramit Sethi who heralds automatic warranty doubling as a top credit card benefit on his I Will Teach You To Be Rich website. “Most cards extend the warranty on your purchases,” he informs, “So if you buy an iPod and it breaks after Apple’s warranty expires, your credit card will still cover it up to an additional year. This is true for nearly every credit card for nearly every purchase, automatically.”
2. Rewards and cash back.
Although we’ve listed these benefits second, they actually combine to be the number one favourite perk among credit card holders. At least, this is what has been reported by Brady Porche of CreditCards.com. The website conducted a national telephone survey of over 1,000 adults and found that 40 percent of cardholders rank rewards and cash back as the best benefits of the cards they use the most.
“Nearly a quarter said rewards and cash back were the main reasons they signed up for their primary card,” Porche adds, “Only 21 percent said a low interest rate was the key benefit, and 18 percent said they signed up for their card because of a low APR.”
3. Travel insurance.
Consumers who are planning their vacations love the fact that buying airline tickets on their credit cards means they’re protected if unfortunate events arise. If there are illnesses or injuries that prevent the trips from being taken, trip cancellation insurance kicks in.
“If you book tickets for a vacation and then get sick and can’t travel, your airline will charge you hefty fees to rebook your ticket,” Sethi warns, “Just call your credit card and ask for the trip cancellation insurance to kick in, and they’ll cover those change fees — usually up to $1,000 per year.”
Are you offering your customers the ability to enjoy their credit card benefits? Contact Canadian POS to learn how the Poynt Smart Terminal can make accepting credit cards easier than ever! Call us at 1-877-748-2884 or email us at info@localhost.