| Credit Research Foundation Member Assistance Program | ||||
| Credit Card Policies | ||||
| Does your company, as a matter of policy, allow Commercial Customers to pay off their open term balances with a Credit Card at the end of their Open Term? | Does your company allow the credit professional's the discretion of allowing payment of a commercial past due balance with a credit card as often as needed? | Does your company as a matter of policy allow commercial customers to also take a cash discount if they use a credit card on a cash discount term like 2%10 Net 30? | Some suggested practices | |
| % Never Allowed | 70% | 43% | 96% | Only allow Credit Card within 5 days of shipment |
| % Allowed Once | 4% | 31% | 0% | Allows Customer to pay with Credit Card a week after sale |
| % Allowed | 26% | 26% | 4% | Mark-up product as if C.O.D. - Pricing offsets 2.5% charge |
| Fee Paid for Credit Card administration is offset by: 1. Risk elimination from instant cash 2. Eliminate the Cost of Capital 3. Eliminate A/R Costs (invoicing, dunning, collecting, cash app.) 4. Reduction in Disputes | ||||