They say credit is king.
Actually, it’s always been the opposite: The business truism is that cash is king, but really, how many people use cash to pay for anything anymore? And as far as consumers are concerned, credit works just as well as cash and is the preferred way to pay for your dumpster rental.
That said, each franchise operator handles his or her transactions differently. Before we jump into that, know that cash is still an option, albeit a rare one, and you might need to have a history with a franchise operator to pay cash on delivery. Across all Bin There Dump That franchises, 98% of customers pay with credit. Credit cards are the preferred option for all franchises.
First let’s take a look at a few credit card facts (courtesy of www.creditcards.com):
The first national general-use credit card that allowed balances to be paid over time was the BankAmericard, issued in 1958 (BankAmericard is now known as Visa). MasterCard started in 1966.
The average number of credit cards held by all cardholders is 3.7.
When we’re talking about consumers only, the average number of credit cards drops to 1.96.
In 2012, there were 26.2 billion credit card transactions.
Of the 775 million general purpose payment cards in force (issued, activated and not expired) in the U.S. in 2012, 334 million were credit cards, 283 million were debit cards and 159 million were prepaid cards.