In our last blog, we revisited the topic of credit card usage during the holidays. It should probably go without saying that it provides consumers with numerous benefits. However, it should be underlined and highlighted that accepting credit cards in your store provides you with many benefits as well. Firstly, by adding value to each purchase through the various credit card rewards people earn through spending, you give your customers more than what they paid for.
This encourages them to shop in your store a lot more than they would if you didn’t accept credit cards. Secondly, credit card acceptance boosts your sales and therefore, your overall income. By becoming plastic-friendly, you open up your business to a whole new set of customers. Some people simply prefer to use their credit cards. And as Jason Steele points out on Credit.com, there are many reasons why.
In our last blog, we noted that rewards points, fraud protection, online shopping security and purchase protection policies are all reasons why people prefer to use credit cards when doing their holiday shopping. In today’s blog, we’ll conclude our look at Steele’s list of reasons, while adding our two cents to each one. After all, at Canadian POS Corporation, we know a thing or two about why credit cards are so popular. Here are four more reasons.
1. Some credit cards offer extended warranty protection. If it’s one thing that all consumers have in common, it’s that they absolutely hate to feel as if they’ve been ripped off. “Few things are as disappointing as finding out that an expensive purchase no longer works shortly after its manufacturer’s warranty expires,” writes Steele, “Thankfully, many credit cards feature an extended warranty policy that adds an additional year to manufacturer’s policies.”
2. Credit cards can offer price protection. As if credit cards didn’t offer enough protection for purchases as it is, they can also help consumers secure the best deals. Steele notes that many items drop in price once the holidays are over. He notes that some credit card issuers “automatically issue a refund when a covered item experiences a price drop within 60 days of purchase.” How awesome is that?
3. Return protection policies. The protection policies don’t seem to stop, do they? Return protection is pretty important during the holidays as many gifts often get returned. The wrong size, the wrong colour, the wrong style – the reasons are seemingly endless! Steele notes that “thankfully, some credit cards offer a return protection policy (that cover) eligible items within 90 days of purchase for up to $300 per item.”
4. Credit cards build credit ratings. Another thing that consumers really like about their credit cards is that they help to improve credit scores. Of course, this all depends on how the cards are used. If purchases are paid for on time, it improves one’s credit. If balances are paid off in full by the due date each month, this helps as well. With so many benefits to credit card usage, it makes you wonder why anyone would be against it.
It also calls into question why any business owner would not want to accept credit cards. Doing so provides year-round benefits. But there is no better time than now – the busy holiday shopping season – to accept credit cards as methods of payment from your customers. Take advantage of all of that extra possible income during the holidays by allowing your customers to pay with their credit cards. Call Canadian POS Corporation at 1-877-748-2884 today!