In our last blog, we revisited the concept of convenience and detailed the many ways in which credit cards help to make the lives of your customers easier. We took a look at an article posted by Jeremy M. Simon on CreditCards.com that listed a number of examples of how paying with plastic is a much more convenient paying option for shoppers. Are you offering your customers this convenience?
If not, you’re certainly missing out on a number of benefits. And when it comes down to it, providing your customers with benefits is what will turn around to benefit you in the end. While accepting credit cards helps you to no longer turn away customers who wish to use them, you’re also providing them with more value for their purchases. In today’s blog, we’ll continue to explore Simon’s list of credit card benefits.
They help to build credit. Quite obviously, the use of a credit card is directly linked to one’s credit score, notes Simon. This helps customers to increase their credit score as long as they are paying their credit card companies in timely manners. The more creditworthy consumer are, they easier it is for them to get lenders to trust them with more available funds.
They provide flexibility. As mentioned, credit cards allow consumers to pay their bills over time. Even if they wish to pay their bills off in full, they are still given time between the date the purchase is actually made and the date the payment is actually due. This allows shoppers the peace of mind in knowing that they don’t have to actually pay for anything immediately.
This means good things for your business. With the freedom to pay over time, shoppers are more likely to increase the amount of their purchases at your place of business. Of course, it’s more convenient to know that one has time to pay. As long as your business accepts credit cards, you are allowing your customer that convenience. Again, you are making lives easier by accepting plastic.
They offer protection. As Simon points out, “Making a costly purchase with plastic gives you immediate purchase protection that you do not get when you pay with cash or some ATM cards. When used for purchases, some credit cards automatically extend your product warranty. If merchants don\’t deliver what you paid for, the credit card issuer can step in to help.”
This is especially important when fraud occurs. Because customers are using cards instead of cash, they are able to utilize their credit card companies as helpers when it comes down to tracking unfamiliar charges. Often, credit card companies will issue credits and open investigations in the case of charges that were placed on accounts in error.
There is also protection when a credit card is lost or stolen. “Most credit card companies will work very hard to resolve theft issues, as fraud is one of the industry\’s biggest concerns,” says Simon. At the end of the day, a credit card provides the type of security that cash simply cannot. Offer this convenient option to your customers and they will reward you for it!