HA Invoice Payment

Coinerww2 · January 9, 2012 2:19AM

I went to pay my HA invoice today and they don't accept credit card anymore. Does anyone know if this is just for this last auction or the new norm? (I factored the 1% discount into my bid

)

Barndog · January 9, 2012 2:26AM

seems you are right:

<< Payment Options

For expedited shipping or delivery in person, upon receipt of your invoice, please remit payment a bank wire, cashier's check or bank money order. Clients with pre-arranged credit status will receive immediate credit for payments via eCheck, personal or corporate checks. All others will be subject to a hold of 5 days, or more, for the funds to clear prior to releasing merchandise. For your convenience, payments can be made from the MyOrders page of the HA.com website by eCheck, but allow 24-48 hours from the end of the auction for invoices to appear on this Page. For more information, by type of auction, please go to the specific category on HA.com. >>

PreTurb · January 9, 2012 2:38AM

I paid for my small purchase ($105) with a CC.

HPM · January 9, 2012 2:41AM

Me too. Cc worked fine!

Schmitz7 · January 9, 2012 2:43AM

I think the preliminary invoice does not allow credit card. Once the official invoice is provided (they merge multiple auctions together within the same week) you can use a credit card to pay. You are just being too proactive.

Placid · January 9, 2012 2:44AM

Maybe add a credit card to your Heritage account in myheritage section if you dont already have one on file with them.

MilkmanDan · January 9, 2012 2:57AM

Yeah, I just paid mine with CC too. I had already added the CC to my account though, maybe that made the difference.

Priller · January 9, 2012 2:59AM

Credit cards are now only accept for online payments under $2500. They say you can call if you need to do a CC payment.

rays · January 9, 2012 4:22AM

<< Credit cards are now only accept for online payments under $2500. They say you can call if you need to do a CC payment. >>

Well I just called and they said as of 1/1/12: NO.

Used to be ok to put up to $10K on a credit card, if you were a non-dealer.

Now dealers get a better deal (30 days to pay vs 14 for collectors).

Kove · January 9, 2012 4:35AM

Yes, Heritage seems to be getting more difficult to deal with in the new year. Credit card limit went down from $10,000 to $2,500. Then, I get my invoice for the coins I won yesterday, and I have 2 days to pay.

oneor11 · January 9, 2012 4:39AM

I had the same question yesterday and sent them an email inquiry last night. I haven't heard anything yet, but it sounds like some of the previous posters found the answer. Paying with a credit card is so convenient. I'm new to the game so haven't actually used Heritage before last week. Won a Teletrade auction last night and it was so simple...so many payment options including PayPal. Won, paid, and went to sleep all in the course of 5 minutes.

rays · January 9, 2012 4:43AM

<< Yes, Heritage seems to be getting more difficult to deal with in the new year. Credit card limit went down from $10,000 to $2,500. Then, I get my invoice for the coins I won yesterday, and I have 2 days to pay. >>

My invoice doesn't say when it is due; it used to be 14 days but I just read the "terms and conditions" and it now says payment must be made within 7 days after close of the auction. I remember 14 days before?

BryceM · January 9, 2012 5:53AM

I try to not rant and rave like an idiot too often on public forums, but I'll make an exception today.

The 15% buyers fee on top of whatever they collected from the seller isn't enough?

I realize a guy like me is small potatoes to them, selling million dollar coins every other day and all, but I did buy 20 or 25 coins through Heritage in the past year. Most were in the $400-1200 range. Without the ability to use a credit card I'll be much, much less likely to ever buy from them again in the future. I get a significant number of "reward points" from my card that I'll now be doing without. I also like the consumer and fraud protection a card provides.

Hopefully they'll get a Netflix-type wake up call if enough people feel the same way. Customer un-appreciation moves don't sit well with me. I've always paid my bills promptly, have always held them in high regard, and planned on using them for the eventual sale of my collection. Now, I feel differently.

For the stuff I buy, there are plenty of potential sources. I'm going to vote with my feet. Teletrade and Stacks, here I come.

RedHerring · January 9, 2012 5:59AM

So CC payments are still okay under $2500 or no CC payments period?

RedHerring · January 9, 2012 6:23AM

<< So CC payments are still okay under $2500 or no CC payments period? >>

Just called them to confirm. CC payments are still accepted on invoices under $2500. Over $2500 will require a "cash" option (check, MO, eCheck, Bank Wire, etc.)

TONEDDOLLARS · January 9, 2012 6:43AM

My invoice was well in excess of $2500. They let me put $2500 on my CC and I had to pay the rest by check.

MilkmanDan · January 9, 2012 6:45AM

<< My invoice was well in excess of $2500. They let me put $2500 on my CC and I had to pay the rest by check. >>

So it's basically exactly the same as before, except that the amount that can be charged was lowered from $10k to $2500. So much for the airline miles or CC points!

swhuck · January 9, 2012 7:10AM

On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck.

Placid · January 9, 2012 7:17AM

<< On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck. >>

Why? I can understand the 10k limit because of the tax thing, but why $2500 and not $3000 or $2000.
If I have the credit available on my cc why limit me to $2500?

rays · January 9, 2012 7:25AM

<< 

<< On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck. >>

Why? I can understand the 10k limit because of the tax thing, but why $2500 and not $3000 or $2000.
If I have the credit available on my cc why limit me to $2500? >>

The bank charges the vendor up to 2% to accept credit cards.

airplanenut · January 9, 2012 7:29AM

<< 

<< On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck. >>

Why? I can understand the 10k limit because of the tax thing, but why $2500 and not $3000 or $2000.
If I have the credit available on my cc why limit me to $2500? >>

Credit cards are expensive. All three payment methods they limited charge a percentage-based fee to receive a payment. 2-3% of a $2500 transaction is a lot less total money (not percentage) than 2-3% of $10k.

Placid · January 9, 2012 7:33AM

<< 

<< 

<< On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck. >>

Why? I can understand the 10k limit because of the tax thing, but why $2500 and not $3000 or $2000.
If I have the credit available on my cc why limit me to $2500? >>

Credit cards are expensive. All three payment methods they limited charge a percentage-based fee to receive a payment. 2-3% of a $2500 transaction is a lot less total money (not percentage) than 2-3% of $10k. >>

They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat.

BAJJERFAN · January 9, 2012 8:09AM

<< 

<< 

<< 

<< On January 1st, we did lower our Credit Card, PayPal and Google Checkout limits to invoices under $2500. We also offer a 4 month payment plan link. Of course, you can always pay quickly and easily by eCheck. >>

Why? I can understand the 10k limit because of the tax thing, but why $2500 and not $3000 or $2000.
If I have the credit available on my cc why limit me to $2500? >>

Credit cards are expensive. All three payment methods they limited charge a percentage-based fee to receive a payment. 2-3% of a $2500 transaction is a lot less total money (not percentage) than 2-3% of $10k. >>

They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat. >>

3% on $50 million a year is $1.5 mil. I'd say they could probably afford to lose a few bidders.

DennisH · January 9, 2012 8:11AM

I just paid mine ($496) with C.C.

MilkmanDan · January 9, 2012 8:36AM

<< The bank charges the vendor up to 2% to accept credit cards. >>

And HA charges us a 15% buyers fee. I'm not going to pay my buyers fee on purchases over $2500 anymore.

This is just a business decision that many of us won't like, but we'll learn to live with. I'm certain that it makes buying coins less easy for some, even if its just a timing thing. On the other hand, heritage not having to pay the banking fees will likely make up for it, I'm sure they did the math.

SurfWVa · January 9, 2012 9:55AM

Did HA announce this change beforehand? This might be something that people would want to know before bidding, particularly if the payment policy change happens in the middle of a major auction. I don't remember seeing anything about a change in payment policies prior to placing bids for the FUN auction.

FYI, I paid for my winnings with my CC but my invoice total was below $2000.

BryceM · January 9, 2012 10:03AM

The customer rep I talked to on the phone today told me all their customers were notified about the change by e-mail late last year.

Maybe I missed it, maybe it went in the SPAM bucket, but if true, it seems like at least one person would have started a thread about it here. Not much numismatic news gets past this community.

OnTheHunt · January 9, 2012 10:04AM

<< 3% on $50 million a year is $1.5 mil. I'd say they could probably afford to lose a few bidders. >>

Might cause them to lose a few consignors as well.

Steve

oldhobo · January 9, 2012 10:25AM

I won ~3500 in December and paid with eCheck to get free shipping. FedEx screwed up and delivered it to the wrong house. My first thought - oh sh*t - I didn't pay with credit card and have no recourse if it's not found and FedEx won't make it right (thankfully they did recover it).

Wasn't happy today when I went to pay for my FUN wins and couldn't put them on my CC - made me a little nervous.

crypto79 · January 9, 2012 10:33AM

<< The customer rep I talked to on the phone today told me all their customers were notified about the change by e-mail late last year.

Maybe I missed it, maybe it went in the SPAM bucket, but if true, it seems like at least one person would have started a thread about it here. Not much numismatic news gets past this community. >>

I agree I don't remember anything about this, I am not sure what is worse: An incompetent strategic communications group or one that was told to only put out the legal minimum by the brass?

Beernuts · January 9, 2012 10:35AM

<< The customer rep I talked to on the phone today told me all their customers were notified about the change by e-mail late last year. >>

I did not receive the notice either.

BAJJERFAN · January 9, 2012 10:42AM

<< 

<< 3% on $50 million a year is $1.5 mil. I'd say they could probably afford to lose a few bidders. >>

Might cause them to lose a few consignors as well.

Steve >>

I guess that could happen, but there is no way to know. Fortunately HA absorbs the fee and not the consignor.

jdimmick · January 9, 2012 11:02AM

Honestly,

I never understood why heritage allowed CCpayments anyway especially up to 10k, thats a lot of fee's they have to eat, just to allow folks to pay by CC. Yeah, they make a good deal on the consignments, but darn. I wouldnt take a cc payment in the store for more than say 1500. and Zero for bullion.

OnlyGoldIsMoney · January 9, 2012 11:06AM

My invoice was $2,530 (including buyers fee) before they added the shipping.

I too don't recall getting any notice of this change from Heritage.

Hopefully I can use my credit card for the first $2,500. If not, I will reconsider bidding on items that might take me past $2,500 in any particular Heritage Auction.

g048406 · January 9, 2012 11:13AM

When I would click to pay with Paypal, a pop-up would say if I pay with an echeck, I would get free shipping. Now that they lowered the Paypal limit, I will not get free shipping anymore. Just another reason for me NOT to buy from Heritage anymore.

crypto79 · January 9, 2012 11:13AM

<< My invoice was $2,530 (including buyers fee) before they added the shipping.

I too don't recall getting any notice of this change from Heritage.

Hopefully I can use my credit card for the first $2,500. If not, I will reconsider bidding on items that might take me past $2,500 in any particular Heritage Auction. >>

While I agree with you 100% I find your statement a little ironic coming from a guy with the screen name of "OnlyGoldIsMoney". I can only assume you have a gold card

jt88 · January 9, 2012 11:13AM

<< My invoice was well in excess of $2500. They let me put $2500 on my CC and I had to pay the rest by check. >>

I called them they said I can't pay part in credit card and part in CASH. Are you sure you can do that?

jt88 · January 9, 2012 11:19AM

<< They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat. >>

I agree with you. I will bid much less for this new policy. I can't believe they do that.

mommam17 · January 9, 2012 11:22AM

I went to pay by cc and it said only online payment I could make was echeck. Surprised me but no problem.

BAJJERFAN · January 9, 2012 11:24AM

<< 

<< They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat. >>

I agree with you. I will bid much less for this new policy. I can't believe they do that. >>

Just curious, but would you agree to pay a part of the fee if they would take a higher limit? I know by law that they can't charge you for using the card, but AFAIK there is no law that says that you can't offer.

OnlyGoldIsMoney · January 9, 2012 11:28AM

<< 

<< My invoice was well in excess of $2500. They let me put $2500 on my CC and I had to pay the rest by check. >>

I called them they said I can't pay part in credit card and part in CASH. Are you sure you can do that? >>

I cannot be sure but TONEDDOLLARS in his post seems to have had success paying that way. I will call tomorrow and find out myself.

mozin · January 9, 2012 11:28AM

Maybe we need to ask Heritage for individual invoices for each lot won.

jt88 · January 9, 2012 11:33AM

<< 

<< 

<< They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat. >>

I agree with you. I will bid much less for this new policy. I can't believe they do that. >>

Just curious, but would you agree to pay a part of the fee if they would take a higher limit? I know by law that they can't charge you for using the card, but AFAIK there is no law that says that you can't offer. >>

What do you mean by they can't charge you for using the card? SW already does that since last year or even in 2009. They charge 18% if you pay in credit card or 15% for cash.

jt88 · January 9, 2012 11:40AM

Maybe with this new policy I can buy some coins for better price since some might not want to chase the price. I always find SW price is better than HA price.

crypto79 · January 9, 2012 11:52AM

makes me much less likely to stretch to buy a high priced coin

BAJJERFAN · January 9, 2012 1:06PM

<< 

<< 

<< 

<< They are also making more profit off a 10k sale than a $2500 one unless they are giving someone a break on fees above the $2500 mark.
Seems it would also be better not to take a credit card under a certain amount as it takes the same amount of time to and effort (resources) to list a $50 coin as a $1000 coin.

I just think they might be losing some possible bidders of coins in the $2500-$10k range.
Might turn off sellers somewhat. >>

I agree with you. I will bid much less for this new policy. I can't believe they do that. >>

Just curious, but would you agree to pay a part of the fee if they would take a higher limit? I know by law that they can't charge you for using the card, but AFAIK there is no law that says that you can't offer. >>

What do you mean by they can't charge you for using the card? SW already does that since last year or even in 2009. They charge 18% if you pay in credit card or 15% for cash. >>

The difference is that it is ok to offer a discount for cash, but they can't charge you an extra fee if you use the card.

BaronVonBaugh · January 9, 2012 1:08PM

I think I'm glad I got outbid on several things. I only won one coin and it came to $1840 + shipping.

jt88 · January 9, 2012 3:31PM

I just pushed a coin form $900 to $1900. If they haven't changed the credit card policy I would push it more for couple coins.

DeepCoin · January 10, 2012 12:14AM

I am not sure what the big deal is. IMHO Heritage is giving everyone a break allowing up to $2500 on a credit card purchase. More than that is just too expensive. Look at the BST where everyone wants 3% extra for PayPal on a small purchase, let alone one of four figures or more.

Yes, all the people who want the points, discounts, etc. will not get a discount anymore on large purchases. If you can afford a $3K coin, should it really bother you that much not to get the airline points? Yes, the 15% fee is part of the auction and part of the price when you bid and I always factor that in.

Maybe I am more detail oriented, but I noticed the $2500 limit right away when I paid for the auction I won.

As I see it, the only folks this is really impacting are those living on credit to fund their coin purchases.

All in all, this change is no big deal to me and will not affect my buying habits in the least.

Priller · January 10, 2012 12:23AM

The bad business part of this is that the change wasn't communicated until you went to pay the invoice. Even now, I can't find anywhere on their website where it mentions the newly implemented $2500 CC limit. To just change it without notification before a major auction is not good business.

rays · January 10, 2012 1:05AM

<< As I see it, the only folks this is really impacting are those living on credit to fund their coin purchases. >>

Not exactly. A $10K credit card charge brings $300 in Subaru bucks on a Chase Subaru credit card.

HA Invoice Payment

Comments

Leave a Comment