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Uncle Doof · Jun 30, 2008, 07:54 AM

Hey peeps, 'tis I, Doof. Forgot the password for the normal account and the cookie and email access are sitting on a computer miles away. So anyways...

Quick bit of research here. Would appreciate it if all y'all would click on the appropriate choice. Yes, yes, I know there's other stuff out there like Discover and Diners' - the choices are tailored to the big three 'coz that's the info I need.

Thanks chaps.

turtle777 · Jun 30, 2008, 02:44 PM

Not sure what you mean by "are you able to use".

I got Amex, MC, Visa and Discover.

However, Amex is the card of choice, MC the backup, Visa and Discover never gets used.

-t

Uncle Doof · Jun 30, 2008, 02:57 PM

Originally Posted by turtle777

Not sure what you mean by "are you able to use".

"Have in your possession and are able to use to make a purchase with right now, even if it's not your main card."

Originally Posted by turtle777

I got Amex, MC, Visa and Discover.

However, Amex is the card of choice, MC the backup, Visa and Discover never gets used.

Thanks, that's good info.

The reason for this is that I'm curious to know how many customers they'd miss if a site didn't take one card out of the three. For example, if they didn't take Visa how bad would it impact them? ...or if they didn't take Amex how bad would it be?

turtle777 · Jun 30, 2008, 03:17 PM

Well, on that count:

Visa and MC are crucial
Amex if you want to please the affluent
Discover is rarely offered online

-t

Uncle Doof · Jun 30, 2008, 03:24 PM

Dude, let the poll speak results to me.

-Q- · Jun 30, 2008, 03:24 PM

AMEX is the go to card, mainly for all the reward point/miles they offer. Just got a 'free' Digital SLR for using them.

Visa/MC are the 'back-ups' usually used on vacation where the AMEX isn't accepted.

From research I've seen in the past, it's usually Visa/MC that's almost universally accepted in the States and then varying levels of AMEX & Discover (don't know what the bias is against Discover, but AMEX charges some of the highest merchant fees in the industry so a few merchants live without them).

mattyb · Jun 30, 2008, 03:32 PM

When I have the credit card PIN, I can usually use them.

Takes a bit of 'persuasion' sometimes, but I enjoy the workout.

iMOTOR · Jun 30, 2008, 03:34 PM

It has been a while; so we need you to answer some security questions, just to make sure you’re the real Doofy.

Uncle Doof · Jun 30, 2008, 03:35 PM

Originally Posted by -Q-

From research I've seen in the past, it's usually Visa/MC that's almost universally accepted in the States and then varying levels of AMEX & Discover (don't know what the bias is against Discover, but AMEX charges some of the highest merchant fees in the industry so a few merchants live without them).

Yeah, I'm actually trying to work out whether I can get away with not offering one of the cards, since the merchant sign-up for the card in question wants me to jump through too many hoops. For example, they want a copy of my last tax return, and heck I don't even like giving the government my tax returns.

Uncle Doof · Jun 30, 2008, 03:36 PM

Originally Posted by imotor

it has been a while; so we need you to answer some security questions, just to make sure you’re the real doofy.

mydog8mymac · Jun 30, 2008, 03:40 PM

We have used and taken all in the past. Never had to give a copy of the tax returns, though - ? Are you sure this is the CC company requesting this or your CC gateway?

Uncle Doof · Jun 30, 2008, 03:45 PM

Originally Posted by mydog8mymac

We have used and taken all in the past. Never had to give a copy of the tax returns, though - ? Are you sure this is the CC company requesting this or your CC gateway?

Gateway says it's the CC company (and thus give the option to sign up for the other cards without having to send them any blood). Might be a little different from your experience since AFAIK it's an EU clearing centre in the mix. It's getting harder by the day to grab a merchant account here in the UK without a long established trading history.

Laminar · Jun 30, 2008, 05:27 PM

Credit cards are teh evil!

Glad to see you included an option for RailRoader. My debit card is MasterCard, my Chase Amazon card is Visa. The CC is only used for gas and the rare purchase I need to wait a week to actually pay for.

SSharon · Jun 30, 2008, 05:33 PM

I have a couple mastercards and a couple visas so never got around to getting myself a discover or amex card. I pay my balance way more often than I need to, but I just don't have room in my wallet for more cards.
Maybe I will get one and leave it at home just in case I lose my wallet or it gets stolen so that I have a backup card while the new ones come in the mail.

MacosNerd · Jun 30, 2008, 07:08 PM

Mostly a Visa+Amex user here.
I actually don't care, its not like I think, hmmmm, I'm in an amex sort of mood, lets charge something on that instead of the evil mastercard

I suppose which ever falls out of my wallet first when I go to pay for something is the card that will be used.

Paco500 · Jun 30, 2008, 07:31 PM

I know of nobody (though I'm sure they exist) that has an AmEx but no Visa/Mastercard. However, I know of a great many who have Visa/Mastercard but not AmEx. My my un-scientific observation:

Visa- most popular, likely by a large margin.
Mastercard- Solidy second
AmEx- Distant 3rd.

torsoboy · Jun 30, 2008, 09:49 PM

Originally Posted by Uncle Doof

Yeah, I'm actually trying to work out whether I can get away with not offering one of the cards, since the merchant sign-up for the card in question wants me to jump through too many hoops. For example, they want a copy of my last tax return, and heck I don't even like giving the government my tax returns.

We got away with just accepting Visa and Mastercard for a couple of years, but then people that wanted to make large purchases ($5k+) started complaining about not being able to use their AmEx cards so we caved and started accepting those. AmEx also allows us to accept transactions that are uncapped in size, and we have caps on the Visa/Mastercard transaction sizes, so we like it for that.

Discover just recently (this year) started going the same route as Visa and Mastercard with their discount rates, and they are now very easy to add to an existing merchant account. In the past they were very AmEx like, but they learned their lesson and are now playing nicely. We started accepting Discover about a month or two ago, and we have about 5% of the transactions come through on Discover cards.

When I started my business I didn't have to submit much proof of anything to get the merchant account setup, but I was fairly limited in how much I was able to collect each month and with each transaction. When I went over the $150k a month mark they made me submit a LOT of documents.

Basically the card processing bank risks everything by allowing you to accept credit cards. If you accept the money, then run away without delivering the goods, they are left with the bill when the chargebacks come rolling in. That is why they want to verify your income, your business stability, etc. The higher the amount you want to process, the more scrutiny they will give you and your business.

Kerrigan · Jun 30, 2008, 10:41 PM

Primarily, I use a Visa checkcard.

However, several nights a week I take out my American Express and open up bar tabs.

Eug · Jun 30, 2008, 10:46 PM

Originally Posted by Paco500

I know of nobody (though I'm sure they exist) that has an AmEx but no Visa/Mastercard. However, I know of a great many who have Visa/Mastercard but not AmEx. My my un-scientific observation:

Visa- most popular, likely by a large margin.
Mastercard- Solidy second
AmEx- Distant 3rd.

Sounds about right to me.

I use AmEx primarily though, because they offer me 2% cash back, on a no-fee gold card. (That's pretty much unheard of in Canada.)

Originally Posted by torsoboy

We got away with just accepting Visa and Mastercard for a couple of years, but then people that wanted to make large purchases ($5k+) started complaining about not being able to use their AmEx cards so we caved and started accepting those. AmEx also allows us to accept transactions that are uncapped in size, and we have caps on the Visa/Mastercard transaction sizes, so we like it for that.

What's the cap for Visa/Mastercard?

I've put purchases of several thousand $ on Visa, but I've never tried putting a 5-digit $ purchase on any card.

Kenneth · Jun 30, 2008, 10:54 PM

Amex and Discover here. If the place doesn't accept any of them, I just yank out my debit card or cash.

Eug · Jun 30, 2008, 11:10 PM

Where is Discover accepted.

Up here in Canada it's rare to see a store that accepts Discover.

torsoboy · Jun 30, 2008, 11:17 PM

Originally Posted by Eug

What's the cap for Visa/Mastercard?

I've put purchases of several thousand $ on Visa, but I've never tried putting a 5-digit $ purchase on any card.

The limit is variable and is determined by the merchant account bank being used... the longer you are with them, and the more financial info they have about your company, the higher your limit can be. The highest limit we have for Visa and Mastercard is $10k, but our main processing bank likes us to keep them under $4-5k. With AmEx they don't care if it is even $50k...

Also, if your average transaction size is large ($2k) you normally pay higher discount rates.

Anyway, back on topic... I have Mastercard and Visa.

Kenneth · Jul 1, 2008, 03:25 AM

Originally Posted by Eug

Where is Discover accepted.

Up here in Canada it's rare to see a store that accepts Discover.

Supermarkets (QFC, WholeFoods, Safeway, etc), gas stations, CircuitCity, hotels, Starbucks, AmericanEagle, and even the ABC Stores in Hawaii. I believe DiscoverCards are mostly used within the US than overseas.

Dakar the Fourth · Jul 1, 2008, 07:48 AM

Originally Posted by Eug

Where is Discover accepted.

Up here in Canada it's rare to see a store that accepts Discover.

Fry: Do you take Visa?
Clerk: Visa hasn't existed for 500 years.
Fry: American Express?
Clerk: 600 years.
Fry: Discover Card?
Clerk: Sorry, we don't take Discover.

osiris · Jul 1, 2008, 08:22 AM

I heartily laugh (with hands on hips) every time I receive an offer for a Discover card.

Thorzdad · Jul 1, 2008, 11:50 AM

Generally, we go with cash (or check) for all purchases.
When we must use plastic (as for an unplanned and expensive car repair or online purchase) we will go with Discover first, and Visa as the backup.
We had AMEX way back in the day, but got tired of paying that yearly fee.

turtle777 · Jul 1, 2008, 11:54 AM

Originally Posted by Thorzdad

We had AMEX way back in the day, but got tired of paying that yearly fee.

There are plenty of great free Amex cards.

The Cash Blue is an excellent rewards card, giving up to 5% cash back.

Plus, it doubles any warranty for free.
I use it for all my electronics purchases.

-t

Thorzdad · Jul 1, 2008, 12:01 PM

Originally Posted by turtle777

There are plenty of great free Amex cards.

The Cash Blue is an excellent rewards card, giving up to 5% cash back.

Plus, it doubles any warranty for free.
I use it for all my electronics purchases.

-t

That's nice. We still prefer cash, and limit plastic to times when we have no other option.

64stang06 · Jul 1, 2008, 12:10 PM

We have the AmEx Blue and a Citi MasterCard, both have a cash back option when used. Thankfully we don't use them much, mainly in part to her having a massive savings side to her and so it's cash for everything (well, Visa debit card, but still).

Uncle Doof · Jul 6, 2008, 03:12 PM

Right, time to wrap this up and get back to the grind. Thanks to everyone who voted/posted in here - mucho appreciated.

Have a great summer.