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Topic: Credit card fees are coming.< Next Oldest | Next Newest >
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PostIcon Posted on: Jan. 26 2013,17:43  Skip to the next post in this topic. Ignore posts   QUOTE
But not for TPR.

http://abcnews.go.com/Busines....8316310

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Starting Sunday, paying by credit card could get more expensive. Under the terms of a $7.2 billion settlement reached last summer between credit card companies and merchants, merchants will be free to impose a surcharge on customers paying by credit card.


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Malcolm Search for posts by this member.
I disagree.
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PostIcon Posted on: Jan. 26 2013,18:04 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
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Detweiler offers this advice to affected consumers: "Always have a back up method of payment," she suggests, so you can avoid paying the new charge. "Have a debit card, or slip and extra $20 in your wallet."

Pr00fr3ad1ng 1s h4rd.

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PostIcon Posted on: Jan. 26 2013,18:06 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Took me a few reads to figure out what you were talking about.

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PostIcon Posted on: Jan. 27 2013,08:38 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
I'm for this.  I use my credit cards all the time (above $5), but only cuz they give me 2%-5% back.  If it's a 3% cash discount, then I'll pay cash.

Although, I do like the convenience of importing my txns directly into Mint for categorization, etc.

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PostIcon Posted on: Jan. 27 2013,11:05 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
I'm betting it's not a discount for paying cash.  Prices aren't going to go down, they will only go up for credit cards.  They are taking your cash back bonus away from you.
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PostIcon Posted on: Jan. 27 2013,12:55 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Yeah, I'm guessing prices do NOT drop due to the built-in cost of credit card fees that were built in to all prices, and they will just start tacking on a credit card fee instead of a cash-only discount.

Like when pizza places started charging for delivery, and the money didn't go to the drivers.  Pizza costs didn't necessarily drop by the $1.50 fee.

Hopefully some places will advertise, "No credit card fees!" as a way to not piss off customers.

Shit, they can charge a percentage... 4% of a $200 bimonthly grocery shopping trip would be $8.  That's enough for me to drive a few extra miles to avoid, even on principle.

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PostIcon Posted on: Jan. 27 2013,16:00 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Competitive markets would push prices down, but really, we're only talking about 2-3%, so it's not significant most of the time.

I dont even see gas stations that do cash discounts any more, saw that all the time as a kid.

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PostIcon Posted on: Jan. 27 2013,16:09 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Around here I have only noticed gas stations doing that in the last few years.  Never saw it before.

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PostIcon Posted on: Jan. 27 2013,16:25 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Weird.  When I was a kid, gas stations routinely did it, like 2-4 cents per gallon (back in the world of $1 gas), but no one else did.  Now I never see it.

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PostIcon Posted on: Jan. 27 2013,16:40 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
Yeah.  I was also shocked when I first drove through New Jersey in 1994ish, and found out I wasn't allowed to pump gas into my car.  Places where I didn't grow up are all weird.

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PostIcon Posted on: Jan. 27 2013,21:57 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
And that's the error, in my opinion.  Those gas stations weren't offering a discount on cash, they were charging extra for the CC.  The price of the gas was the cash price, you paid extra using the CC.
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PostIcon Posted on: Jan. 28 2013,06:08 Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE
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Around here I have only noticed gas stations doing that in the last few years.  Never saw it before.


About 2 years ago, that was a thing on my end of town. Those stations that did it must have suffered a loss in business because now nobody does it.
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PostIcon Posted on: Jan. 28 2013,08:18 Skip to the previous post in this topic.  Ignore posts   QUOTE
Yet another reason Texas is better than everywhere else.

Alternately, it's time to switch to AmEx.

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12 replies since Jan. 26 2013,17:43 < Next Oldest | Next Newest >

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