Page 1 of 1
Posted: Sat Jan 26, 2013 8:43 pm
by GORDON
But not for TPR.
http://abcnews.go.com/Busines....8316310
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.
Posted: Sat Jan 26, 2013 9:04 pm
by Malcolm
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.
Posted: Sat Jan 26, 2013 9:06 pm
by GORDON
Took me a few reads to figure out what you were talking about.
Posted: Sun Jan 27, 2013 11:38 am
by TheCatt
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.
Posted: Sun Jan 27, 2013 2:05 pm
by Cakedaddy
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.
Posted: Sun Jan 27, 2013 3:55 pm
by GORDON
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.
Posted: Sun Jan 27, 2013 7:00 pm
by TheCatt
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.
Posted: Sun Jan 27, 2013 7:09 pm
by GORDON
Around here I have only noticed gas stations doing that in the last few years. Never saw it before.
Posted: Sun Jan 27, 2013 7:25 pm
by TheCatt
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.
Posted: Sun Jan 27, 2013 7:40 pm
by GORDON
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.
Posted: Mon Jan 28, 2013 12:57 am
by Cakedaddy
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.
Posted: Mon Jan 28, 2013 9:08 am
by Leisher
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.
Posted: Mon Jan 28, 2013 11:18 am
by TPRJones
Yet another reason Texas is better than everywhere else.
Alternately, it's time to switch to AmEx.