Q: Do contractors take credit cards?
Is it possible to pay for a remodel with a credit card? Do most or any contractors take credit card payment? ...Sure would nice to get airline miles based on my kitchen remodel!
Posted in Other Remodels on
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Amanda T
Waxahachie, TXA: some do, some dont, we don't
Some contractors do and that is often evident in their pricing structure or they'll charge a fee for the privilege. Various businesses have different profit margins, even though remodeling is expensive, it also has a lower profit margin than a lot of other businesses due to the high materials costs. Paying to accept someones payment can have a negative impact on a contractors bottom line since everything is custom. If we have a $5000 job, we may have $2000 just in materials, so even a $300 credit card fee can impact us. That doesn't even count toward our overhead, taxes, gas, employees, insurance, etc. A lot of other businesses and services have a much better cost to profit ratio so usually when a contractor accepts credit cards the customer pays for it whether knowingly or unknowingly. so just decide if the additional fee you are likely paying is going to translate into enough points to make it worth the extra money. Be open to asking your contractor if they have a cash price and uou may save a few dollars. However if you need to use a credit card to pay off your remodel over time then it may be worth it to pay the extra costs and interest. Remember that unless you ask most contractors who accept credit cards arent going to tell you that they already charge a higher rate to cover any fees they end up paying.
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