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Four Reasons Your Customers Prefer to Pay with Credit Cards 

Young woman holding credit card and smartphone with laptop, Online shopping concept, Credit card payment.

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In the trades industry, there is respect for tradition. Cash and check are the traditional payment methods. This is the way it has been done for years and it’s worked, so why change? Not to mention, accepting credit cards is expensive, right? Or is it?  

While you may think a modern approach doesn’t always bring the same precision that the traditional way can, your customers prefer to pay with their credit cards because of the many benefits that those modern pieces of plastic provide them. Credit cards offer your customers fraud protection, cash flow amidst emergencies, and higher credit scores, and let’s not forget that credit cards can come with perks for your customers when they use them.  

Fraud protection

Customers want to feel safe and protected when they make purchases, and they get that with credit cards. There are a lot of horror stories out there about the customer who pays an unreliable contractor in cash before the job even starts. When the project halts or gets cancelled, or if the contractor fails to deliver, the customer is out the money since they paid in cash. If they had paid by card, they could have disputed the charge and gotten the money back.  

Major card brands like Visa work hard to protect the cardholder and list these as benefits to Visa users on their website. They monitor how credit card users are spending money, and an alert will be triggered when their spending is out of the norm. This protects your customer if their credit card information is stolen, and the thief goes on a shopping spree. When you offer credit cards as a payment option, you build trust and credibility with your customers by giving them the peace of mind that they are protected in their purchase.  

Budget crisis

Emergencies happen. You can’t always plan for them. When your customer has a home repair emergency that they may not have budgeted for or may not have the cash on hand to pay for the repairs, credit cards help offer convenience. Even if the repair will be covered by the homeowner’s insurance, it could take weeks or months to get a payment from the insurance company. Accepting credit cards can help alleviate the burden your customers face when they don’t have cash on hand. Be your customer’s hero by fixing their emergency and by accepting credit card payments. 

Build credit

In this day and age, it’s hard to get far without needing a decent credit score. According to an article from Forbes Advisor, although your customers can build their credit by paying their mortgage, student loans, or car loans, using a credit card creates credit diversity, which accounts for 10% of a person’s FICO credit score. Even though 10% doesn’t seem like much, it can move a credit score from “good” to “very good.” If your customers are working to build their credit, they’ll want to use credit cards. Help your customers build or even fix their credit scores by accepting credit card payments. 

Rewards, cash back, and bonuses

Who doesn’t love to be rewarded? And what business owner doesn’t love when their customers are incentivized to frequent their business? Your customer may prefer to use their airline miles reward card to save up for that dream trip they’ve always wanted to take. Or maybe your customer likes to get cash back rewards because it makes them feel more in control or like they are getting more for their purchases. Some credit cards also offer welcome bonuses such as reward points, airline miles, and cash back. Those welcome bonuses can add up and help make a huge difference in your customer’s budget. Help your customers achieve their dreams or financial goals by allowing them to pay by credit card. 

Your customers choose to use credit cards because it’s convenient, safe, and rewarding for them, but that doesn’t mean it has to be a lopsided deal. Accepting credit cards can also be convenient, safe, and rewarding for you too when you use Project 2 Payment’s payment processing services. And it doesn’t cost as much as you might think. If it’s been a few years since you’ve considered accepting credit cards, it’s time to revisit. A lot has changed to make digital payments more affordable than ever.  

Start exploring digital payments

Learn more about how accepting credit cards can benefit your business or contact us to see how Project 2 Payment can start helping you save time and money today.

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