Buying Advice Purchasing a tractor on a credit card?

[CADplans]

My sister got an unlimited credit card in 1973, the next day, she went to Richmond VA to buy the JD 4630.
The salesman asked how she wanted to pay, they were planning on writing a check,, as a fluke, she gave them the card,,

When she got home, the phone was ringing,, the bank wanted to know if she had JUST bought a tractor!! :laughing:

I bought the JD 4105 a couple years ago,, at the JD dealer,,
I asked if there was any difference in price, card or check,, the salesman said the price would be the same,,
I put the purchase on my credit card,,,

 

[Will_C]

I have tried to purchase cars and tractors with my card-always told nu.

Will

 

[RickB]

An outright refusal is a silly response for a dealer to make. Take the card, add the card processing fee. It can’t be much simpler than that. But at the same time accepting a CC is not an excuse to pile on a couple percent over the actual fee.

 

[Streetcar]

I assume that credit card was a special corporate account. I think the fee structure is different on those. I'm sure consumer cards don't go that high on limits.

American Express, he bought $50000 worth a day and immediately paid it off. Repeated for two weeks

 

[Industrial Toys]

To work with a bank, have a line of credit or operating loan, seems like a better solution than using a credit card to run a business. Seems strange to me. The CC people are out for their pound of flesh, one way or another.

 

[Jstpssng]

Think of this. 5% on a $2.00 cup of coffee is $0.10. The gross margin on the cup of coffee is probably 70%. The issue is that your tractor dealer only making a 8-10% gross profit. Can稚 give away 5% if your only making 8% (leaving the dealer just 3%)

Are you a store owner, (not employee), so that you are qualified to make that statement? There are many more expenses than 5 tablespoons of coffee.

 

[4570Man]

Think of this. 5% on a $2.00 cup of coffee is $0.10. The gross margin on the cup of coffee is probably 70%. The issue is that your tractor dealer only making a 8-10% gross profit. Can’t give away 5% if your only making 8% (leaving the dealer just 3%)

There’s different setups. Some usually lower volume places pay a minimum fee per swipe. I’d never buy a tractor from a dealer that wouldn’t sell it cheaper than the potential gains for using a CC. As mentioned they’re probably going to add the CC fee on top anyway. And rightly so.

 

[mapper]

That's how I purchased my Massey, no additional charges and the dealer was happy to make the sale, no static about the card whatsoever!

 

[RickB]

Are you a store owner, (not employee), so that you are qualified to make that statement? There are many more expenses than 5 tablespoons of coffee.

Please post your qualifications next time you give an opinion. You certainly are not qualified to make coffee if you use 5 tablespoons to make one cup.

 

[ddbackhoe]

(.. only use cash for hookers and heroin. )

I have a VISA that gives me 5% on gas,groceries, and drugs, up to a $400 max rebate for the year.
So.....I charge up to $8000 on it for the year, and then put the card away.
Another VISA card gives me 2% back on everything- no limit.
I also use that for gas, groceries, and drugs when the 5% card has reached the $8000 5% limit.

After you guys compare notes, I want an invite