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  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

Payment when receieve camera?

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> As for why I am using my credit card (Or have too) That's between me and my business advisor.

Sure, it's your business, and I don't know your situation. "Have to use CC" just struck me as odd, but I gather you've researched the available options.

I would hazard a guess that any $50k camera available on CC was from vendor using the "old rules" (large markup, where CC overhead is trivial). But as we know, Red has been doing things differently from the old rules, and changing the market. I think that's why we're all here.
 
HERE YA GO GUYS:


Buyer must pay the full remaining balance of the invoice before order will be processed for shipment. Balance payments in the amount of $7,500 USD or greater will only be accepted via wire transfer or cash equivalent (such as money order, Cashier’s Check, or personal check drawn from a United States bank). Balance payments in the amount of $7,499.99 USD or less may be remitted via credit card payments, wire transfer or cash equivalent as outlined above.

Approximately 30 days before anticipated ship date RED will contact each customer to discuss final payment and method to release product to customer
 
Using CC's is just faster and easier, if you have a decent rate. Our plan is to acquire a business credit line to cover the purchase. If possible, I'll purchase with a CC, pocket the mileage points, and then pay it off with the credit line. I get the benefits of both options--low interest rate financing and mileage bonus. We're actually running the credit line app today, and believe me, it takes a while to jump thru all the hoops to get the lower rates.

If you have a CC with a low rate, it sure reduces the amount of paperwork.

RA Post
 
Jim, what if there was a small bonus for using Cash vs. a Credit card. That way people who can only pay by CC can still do so with a slightly higher charge, but people who pay with some form of payment where you guys don't lose money get the items at what costs have been posted.

Another thought is, why not get a small business loan guys? Unless you can pay off your CC that month, you'll be paying way more for the red than you think.

If you can't get a loan, you could look into a cash advance from your CC company.

And finally, a nice quote about interest (especially at above 10%)

“Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits nor travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours. … Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.” J. Reuben Clark Jr
 
Credit Cards & Cash Discounts

Credit Cards & Cash Discounts

I do this all of the time in my business:
First: yes it is not legal to charge customers the cc charges of 1.5% or 2.9% or whatever they are---why I don't know...

BUT---so easy to get around and i do so in my business since my prices points are set with a small margin that I can not afford the 2.9% cc charge for my travel business.....

REMIDY:
just like the big guys....why not copy other inovative thinkers....Like so:

....product: Price (price includes normal profit + cc fees)
....WANT TO PAY BY CREDIT CARD....
....you pay the standard price for your RED: $17,726.50 (that's $17,500 + $262.50--or 1.5% cc fee)

....PAYING CASH: OH--YOU GET A 1.5% DISCOUNT WHICH IS: $17,500
not knowing the law i think this is completely legal because I've bought products like this before--it's like this in Mexico and as i recall many places in the states....IT'S AN EASY WORK AROUND THE CREDIT CARD LAWS.....

????
 
BajaProductions said:
not knowing the law i think this is completely legal because I've bought products like this before--it's like this in Mexico and as i recall many places in the states....IT'S AN EASY WORK AROUND THE CREDIT CARD LAWS.....
Click to expand...

Won't work... You can do that in some places, but it's not legal everywhere. For RED to do that, it would have to be legal in California, which I don't know that it would be, and everywhere they intend to ship a camera to with that deal in place. And separate discounts or incentives to a customer to pay via one method over another are not allowed in some states. Usually, the only exception to that is special incentives for purchases financed through the company or their agents that are selling the product.

FWIW, I think the fact that RED is accepting credit cards at all for anything other than reservations and accessories is rather nice of them. Most large equipment purchases out there in the world don't work that way. While I understand why some will want to pay by credit card, I'm perplexed -- the interest rates alone (even if you have an amazing card at 9% or something) aren't that good. There's cheaper money out there to be had.
 
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