Credit Cards at Knife Shows?

Joined
Sep 23, 1999
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Can someone please tell me how a person goes about getting set up to accept credit cards at knife shows? Thanks!
 
There are three options. Some clubs and guilds have a club credit card that members can arrange the purchase through and be re embursed by the club when the charge clears but you usually have to be a member to use it. Some craft guilds have arrangements with banks to issue credit card status to their members at reduced rates but again you have to be a member. You can go directly to the bank and apply for a credit card account.

Most knifeshow sales are cash but it is a shame to lose a sale because you lack at least a VISA capability.
 
Accepting credit cards can be a good or a bad thing. I personally no longer take credit cards due to all the hassles witht he bank(s). The bank will charge you a percentage of each sale........that's how they make their $$ off you. It is usually a small percentage (1-3%) IF you sell a certain dollar figure per month. If you don't then they will increase the percentage they take. When I did accept cards the percentage started out a 2%. What the bank failed to tell me was that the percentage rate was based on doing $1500 per month on the credit cards. Eventually they kept inching it up to where they wanted 7.5% of each sale, that's when I pulled the plug!
It is also illegal to increase the price of a sale to cover the percentage. 7.5% may not seem bad when your selling a $150 knife, but once you get into the higher figures, it really starts eating into YOUR money. For me it was just another hassle that I had to deal with, and something else to pay taxes on, so I dropped it. It has made no impact what so ever on my sales, and I can price my knives honestly, and not have to worry about figuring out how I can get what I need out of a kinfe, and still pay everyone else in the loop!
There may be a day when I change my mind.........but for now I won't accept credit cards.
 
The credit card owned can also disavow the charge long after he has gone his way...........John at Tru Grit stopped taking them after he got burned for a $3600 grinder by a bogus one. CHECK ID!
 
I can't decide if I will bother with credit cards or not if and when I start selling knives. But I'm curious, have other makers been burned by bad checks before? I wonder how common that one is.
 
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