Frequent Contributor
Posts: 364
Registered: ‎08-23-2011
Re: Merchants may be allowed to charge extra for credit cards

Yeah nothing was stopping the merchants from offering cash discounts (IE Rewarding people who choose a cheaper method of payment)


Instead they fought to charge credit card customers extra (Thus punishing people who use a credit card as opposed to rewarding cash paying customers)



The merchants are just as greedy as the banks. They don't want to advertise the higher credit price, then offer a cash discount. Instead they want to advertise the lower cash price, then slap on a gotcha at checkout if someone decides to pay with a credit card.


Really lousy situation and I am not just saying that as someone that loves their credit card rewards. Although I don't do so much online shopping like ebay or amazon. Most of my shopping is brick and mortar I do a bit of traveling however and a credit card is hugely useful for booking flights and hotels.


So because of this stupid ruling did my airfare and room rates automatically just go up 3% (on top of the price before which already had the swipe fees built in) really lousy situation when you have to pay a surcharge on prices that already add up to several hundreds of dollars.


You can use a debit card yes, but hotels will place a hold on your available funds and you don't always know how much it is so you risk overdraft fees. Pay by credit card and you pay a surcharge, assuming the hotel will tack on the surcharge and judging by hotels in other countries where surcharges are allowed they will do it.


Pick your poison. Pay debit and risk overdraft fees, pay credit and pay a surcharge.

FICO Scores: TU: 768 (Jan 2012), EQ: 755 (Jan 2012 Lender pull)