Hot Tub Payment Options: Cash, ACH or Limited Credit?
A growing trend among hot tub retailers is the imposition of strict credit card policies, often requiring cash payments, ACH transfers, or placing severe limits on credit card purchases. These restrictions have raised eyebrows among consumers, who are accustomed to the convenience of credit cards for large purchases.
Why the Change? There are several factors contributing to this shift:
Chargebacks: Frequent chargebacks, where a customer disputes a transaction with their credit card company, can be costly for retailers. In the case of hot tubs, issues like faulty equipment, poor installation, or misleading sales tactics can lead to chargebacks.
Product and Service Complaints: Retailers facing numerous complaints about their products or services may be looking to limit their exposure. By requiring cash payments or restricting credit card usage, they can reduce the likelihood of disputes and chargebacks.
Fine Print: Many retailers are also including fine print provisions that disallow exchanges or refunds, further limiting consumer recourse.
These policies can have a significant impact on consumers:
Limited Options: For those who prefer or rely on credit cards, the limited options can make it difficult to purchase a hot tub.
Financial Burden: Cash payments can be a financial strain, especially for large purchases like hot tubs.
Reduced Consumer Protection: The fine print disallowing exchanges or refunds can leave consumers feeling vulnerable in case of issues with the product or service.
What Consumers Can Do? If you're considering purchasing a hot tub, it's important to be aware of these trends and take steps to protect yourself:
Research Retailers: Look for retailers with a strong reputation and positive reviews.
Read the Fine Print: Carefully review all terms and conditions before making a purchase.
Consider Alternative Payment Options: Explore options like financing through the retailer or a third-party lender.
Ask Questions: Don't hesitate, as a matter of fact, demand to know about the retailer's policies regarding returns, exchanges, and warranties.
SINCE THIS INDUSTRY IS UNREGULATED, DO NOT BUY A HOT TUB FROM A RETAILER THAT LIMITS CREDIT CARDS AMOUNTS OR ONLY OFFERS CHECK, ACH OR CASH AS THEIR ONLY FORM OF PAYMENT OPTIONS. BE SMART, DO YOUR HOMEWORK AND REMEMBER TO ALWAYS ASK TO PHYSICALLY SEE THEIR ETL CERTIFICATIONS.
