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Why do so many businesses only accept credit cards? |
Some people may not want to spend too much of their avaiable credit and want to pay with money order. Others may not have a card or are in debt with one. The business would make more money if they allowed more methods of payment. Win/win. So why don't they? by the way, I have a credit card. The cost of dealing with bounced checks, and money orders which might be stolen or forged, that have to be written off as uncollectable can exceed and profit from additional sales. Remember: if the check is good, the store gets the profit; if it's bad, the store loses the whole transaction amount. It's better to have it charged and thus guaranteed by the bank. I know of no business that doesn't accept cash...it might even be illegal. I guess it depends on where you live though. I think this is the way of the future as to many places get robbed ,by using a card there is no cash in the till there fore lowering the risk of being robbed I think most businesses will gladly accept cash, and most companies will also allow you to pay by check. Another option would be to use cash, or even a debit card. A debit card is similar to a credit card, but it is linked to your checking account. I would be willing to bet almost ALL places that accept credit cards will accept debit cards. |
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