Paying builder with credit card?

cnm

We're getting an extension built at the moment.
Is it likely that I'd be able to pay my builder by credit card (to take advantage of a cashback credit card)? Or is it unlikely that he'd accept credit cards?
Thanks,
C

mvteng

I don't know any builders who take credit cards.

I'm sure payment (full or partial) by cash will probably outweigh the advantage of a cashback credit card.

To be honest, no-one can guess what your builder might or might not do. You'd be better just asking him. I'm amazed that as the works already started you've not got all this agreed up front already.

latecomer

Personally I would get a quote and then once you are happy with it ask if there is a discount for cash.

I doubt many builders would accept credit cards unless they are a large company.

JimmyTheWig

Have never heard of a builder taking credit card. If they do they would probably add on a charge which would more than likely be more than the cashback you'd get.

andyhop

more and more trademen are using card processing machines to ensure payment is made once the job is completed

http://www.123send.net/

fluffymuffy

My credit card statement always comes with some credit card cheques. Perhaps you could use one of those? (One of yours and not mine, LOL)

Why would the builder give a discount for cash? Is it suggested that he would take less for not paying tax by not putting it through his books? Tax evasion?

JimmyTheWig

fluffymuffy wrote: »

My credit card statement always comes with some credit card cheques. Perhaps you could use one of those? (One of yours and not mine, LOL)

Was almost a very generous offer!
Don't know if the OP has credit card cheques, but even if they do do these generate cashback?
Also be very careful to check the terms and conditions on these. Is there a fee for using them? Does interest get charged from day 1 of using them? I.e. do they count as a cash withdrawal rather than a purchase?

Why would the builder give a discount for cash? Is it suggested that he would take less for not paying tax by not putting it through his books? Tax evasion?

A builder? Evade tax? Surely not!
Maybe he is paying a "premium for liquidity", as Martin's economics lecturer would have described it (IIRC). if you pay for, say, half the job in cash the builder can pay his workers straight away rather than either having to wait for your cheque to clear before paying them, or paying them from his own funds which may be limited.

mvteng

Why would the builder give a discount for cash? Is it suggested that he would take less for not paying tax by not putting it through his books? Tax evasion?[/quote]

Nowhere did I suggest not paying tax , & I would never suggest to a builder that thats what they should do, but nevertheless many builders will give a discount for cash.

sparky883

You have to have a "Merchant Account" to take cards and the acceptance rules are getting more difficult so No is the answer!

fluffymuffy

A reasonable approach to offering liquidity might be to ask if the builder would like the materials paid for by cheque and the labour in cash. He might be able to revise his quote then. (One of my customers is a senior tax inspector - I've become very conscious of the discount-for-cash thing just lately).

McAzrael

sparky883 wrote: »

You have to have a "Merchant Account" to take cards and the acceptance rules are getting more difficult so No is the answer!

No is not the answer, I can assure you.