Special referral bonus

Special bonus available to businesses that refer new customers to CCNJ:

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* Certain restrictions apply. New referrals must be expecting a call from CCNJ. No bonuses paid out for self-referrals.

What you really need to know about accepting credit cards!

I have often heard people who say that accepting credit cards is just too expensive for me. I must say that when you look at the basic economics of it, by not accepting credit cards, you're actually costing yourself money - not saving!

If you are a business and not accepting credit cards, you are missing out on sales and free advertising. Those lost sales might make the difference between a good month and a REALLY good month or between making a profit or a loss during a particular reporting period. Merchant accounts are known to increase your business by 30-100% or more!

Let's look at an example, that can be applied to any level of sales or any type of business...
Monthly sales volume: $5,000
Assumed cost of goods sold (COGS): 50%
Gross profit: $2,500

Now, add a conservative 20% increase in sales (note - normally would expect 30-100% if not more) by accepting credit cards from your customers.

NEW Monthly sales volume: $6,000
Assumed cost of goods sold (COGS): 50%
Gross profit: $3,000
Less estimated credit card processing fees of approx. $100
NEW NET PROFIT before tax: $2,900 or additional $400 per month or $4,800 per year

By accepting credit cards in this case, you'd be making an additional $400 per month or $4,800 per year - how can you say no to that?

Let's look at another example: Let's keep some of the numbers from above, but say a 30% increase in sales.

Sales volume would be $6,500 per month
COGS would be $3,250
estimated credit card processing fees would be approx. $150.

NEW net profit before tax would now be $3,100 or an increase of $600 per month/$7,200 per year.

When you look at the math, you have to ask yourself - how did I not see this before? Why am I letting sales slip this way?

Don't beat yourself up anymore. Contact Credit Cards, NJ today and let us help you get setup to accept credit and debit cards right away.