posted
I'm not sure if your suppliers situation is the same east & west of here, but with new policy minded management coming in, the old, you work with me & I'll work with you mentality is gone.
The stockboy who answered phones for the last 15 years is now management for my major supplier of the last 20 years & has a rubbery spine, but follows policy terrifically!
They implemented credit card payment policy over the board. Large customers & walk-in customers.
The previous "bottom line" manager... & friend..retired. He understood the business. He made money, from us, for the company.
They APPRECIATED our business!
20 years of loyal business. (I checked the last 3 years) $30,000+ per year.
We've now used the local competitor for about 4 months. When I showed him our purchases over the last 3 years, & said, "we'll take ya."
It's been great so far.
Unfortunately, a new, Sharp, Policy orientated, lack of product knowledge, a** kissing, paycheck to paycheck, I'm sorry this is policy, bonehead, will eventually take over & I will go through this again.
-------------------- Michael R. Bendel Bendel Sign Co,. Inc. Sauk Rapids, MN Posts: 913 | From: Sauk Rapids, MN | Registered: Jul 2005
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posted
Michael..I LOVED it when our supplier "finally" accepted credit card payment..
Think about it....net 30 days, no interest. Pay with credit card..no interest for another 30 days.
PLUS the card I ran had airmiles attached so I got major points for purchases I would otherwise have written a check for.
(Typed from Tampico Mexico, retired, relaxed and loving it!!)
-------------------- Dave Grundy retired in Chelem,Yucatan,Mexico/Hensall,Ontario,Canada 1-519-262-3651 Canada 011-52-1-999-102-2923 Mexico cell 1-226-785-8957 Canada/Mexico home
posted
Credit card deal only? Ain't all that bad.. Its a bigger pain to run to the bank to get cash to pay the delivery driver.
As far as air miles? hm. I had enough airmiles to go anywhere I wanted. The problem was finding an open seat. I gave up on them long ago. I would much rather have the money back too. But then the interest rate was higher.
So I am back to a 9% card and pay it off each month without all them unneeded frills, gimmicks and lies.
-------------------- Leaper of Tall buildings.. If you find my posts divisive or otherwise snarky please ignore them. If you do not know how then PM me about it and I will demonstrate. Posts: 5274 | From: Im a nowhere man | Registered: Jul 2001
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posted
You'd better have sent the full balance before the next billing cycle Dave.
Problem & fact is... they offer air fare because we pay for it. It's that simple.
By the time you spend $20,000 on your card, to get 20,000+ points, to get up to $500.00 free airfare(coach). You must ALWAYS pay before the next billing cycle or you pay interest. They are very creative thieves, be careful!
If you are one of the VERY few that actually pay before the next billing cycle...every time, all the time..... I bow my hat to you. You stand to make up to $500.00 for every $20,000 you spend. High risk!
We do high volume at certain times of the year & want suppliers to work along with us during those times. We both win!
-------------------- Michael R. Bendel Bendel Sign Co,. Inc. Sauk Rapids, MN Posts: 913 | From: Sauk Rapids, MN | Registered: Jul 2005
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I had a couple suppliers start going credit card, I can respect that. They just wanna get paid no problem.
What ticked me off is a comapny called Denver Sign Supply in Loisisana wanted to pull a credit report on me for net 30 and DENIED me? I was shocked so i called and they would not disclose why they denied me. About 1 month later someone called me from there and apologized and wanted to set me up again, blah, blah, blah....NOPE!
hate that too, they had great prices are they still around?
-------------------- You ever notice how easily accessible people are when they are requiring your services but once they get invoice you can't reach them anymore
posted
I think this this is alot like the "free shipping" issue in another post. When credit is extended, and someone defaults, we all pay for it.
Switching to credit cards shifts the risk to the banker instead of the supplier. However, they no doubt raised their prices to cover the credit card fees they incur.
""Good judgment comes from experience; and a lot of that comes from bad judgment" - Will Rogers Posts: 3489 | From: Beautiful Newaygo, Michigan | Registered: Mar 2003
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posted
I was talking to another sign maker this past week about a certain supplier that makes you fill out a form before they will accept checks from you. I can understand that. With money getting tighter and tighter you can expect this to be norm for the future.
"business as usual" has been fading for decades. Used to be a hand shake was all you need. Now a handshake will only give you a virus
-------------------- Bob Rochon Creative Signworks Millbury, MA 508-865-7330
"Life is Like an Echo, what you put out, comes back to you." Posts: 5149 | From: Millbury, Mass. U.S. | Registered: Nov 1998
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posted
I recently switched to a BP visa card for our business purchases. You get 6 cents a gallon back on gas and it has a variable percentage back on other purchases, but we got over a hundred bucks back last month. Our problem recently has been suppliers dropping there delivery service to Northern Minnesota, so sheet goods are a problem. Some have offered to ship free is purchase is over $1000.00. on sheet goods and $500.00 for UPS shippable stuff. Almost makes me want to open a sign supplies trading post for the small shops in the wilds of Minnesota. Maybe they could bring in pelts and beadwork to trade for MDO.
-------------------- Silver Creek Signworks Dick Bohrer Two Harbors, MN Posts: 236 | From: Two Harbors, MN USA | Registered: Jun 1999
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posted
"you work with me & I'll work with you mentality is gone."
What does that mean? "You work with me and I'll work with you"?
Does it mean that you can take longer than 30 days to pay your bill? And without any added interest?
If you use a credit card and pay off the balance before the next billing cycle you are only extending payment within that one month period, just like we require our customers to do.
If someone comes to me and says "I'll work with you if you'll work with me", I get the feeling that somehow I'm coming up on the short end of the stick.
Most of us require payment when the sign is picked up, maybe even a deposit before work begins, and we really begin to grumble if anyone goes over 30 days.
Why should our suppliers expect anything less than what we require of our customers?
What am I missing here?
[ November 02, 2007, 12:25 PM: Message edited by: Raymond Chapman ]
-------------------- Chapman Sign Studio Temple, Texas chapmanstudio@sbcglobal.net Posts: 6306 | From: Temple, Texas, USA | Registered: Nov 1998
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posted
Yes, paying cc in full each month is a necessity, but in reality is no different than ensuring that you have money in the bank when writing a cheque.
I pay as much as possible with a credit card, equipment and vehicles get paid for with cc even if financed. Love the points. Just about the only cheques we write these days are payroll.
If you do need to go beyond cc payment due date arrange and use a bank line of credit which has much lower interest rates.
I think the key is not to think of a credit card as credit and use it only as a payment vehicle which is both more convenient and provides perks that writing cheques doesn't.
[ November 02, 2007, 01:44 PM: Message edited by: Mike O'Neill ]
-------------------- Mike O'Neill
It has yet to be proven that intelligence has any survival value. - Arthur C. Clarke
posted
Been using my Discover card ever since I started my business in '94. Some suppliers don't take Discover...no sweat, I use my Visa. I pay my bills before the end of each month and never carry a balance. Discover sends me a nice "cash back bonus" check every year.
-------------------- Wayne Webb Webb Signworks Chipley, FL 850.638.9329 wayne@webbsignworks.com Posts: 7404 | From: Chipley,Florida,United States | Registered: Oct 1999
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