topic Re: Easing rules to permit merchants to charge fees in Credit in the News

Easing rules to permit merchants to charge fees

Anonymous — Fri, 20 Dec 2013 20:33:37 GMT

After a decade of legal battles, the three major credit card companies are backing away from longstanding policies that prevented merchants from charging customers extra for paying with plastic

http://finance.yahoo.com/news/easing-rules-charges-amex-013055665.html

Re: Easing rules to permit merchants to charge fees

chwebb1 — Fri, 20 Dec 2013 20:38:27 GMT

I don't think I'd shop at a merchant that charged a fee to use my credit cards. I doubt I'm the only one with that opinion either.

Re: Easing rules to permit merchants to charge fees

B335is — Fri, 20 Dec 2013 21:43:18 GMT

In Michigan the gas stations already do this. Its usually $0.10/gallon to use a credit card versus cash. Given the fallout from the recent Target debacle, I would personally pay a bit more knowing my cash isnt directly at risk. Its really unfortunate that it has come to paying extra to protect whats mine, but with criminals we are all potential targets.

Given the choice, I would obviously go elsewhere to not be charged for using a credit card however.

Re: Easing rules to permit merchants to charge fees

Gunnar419 — Fri, 20 Dec 2013 21:53:12 GMT

@chwebb1 wrote:
I don't think I'd shop at a merchant that charged a fee to use my credit cards. I doubt I'm the only one with that opinion either.

I agree. I might shop there if the merchant was very small, local, or otherwise obviously a special case. But if any bigger merchants start charging fees, it's just going to drive people to avoid them either for their meatspace competitors or their online competitors. Interesting development.

Re: Easing rules to permit merchants to charge fees

Simply827 — Fri, 20 Dec 2013 22:19:48 GMT

I shopped once at a boutique that was having a 'going out of business' sale. When I got to the register, I discovered she charged people 3% or so for using a card. I walked out without the merchandise.

I'm sorry, but that is just a cost of doing business. I own a small business myself and I would never pass down the cost of processing fees to my customers.

Also a friend of mines brother was getting married and the store where he got the ring from charged 8% for using a card. I was tempted to report them.

Re: Easing rules to permit merchants to charge fees

masscredit — Sat, 21 Dec 2013 05:49:28 GMT

I owned my own business for many years. Best years approached $3 million and most sales were paid for with a credit card. I always figured an additional 3% into the price to cover credit card fees. So if I wanted to make 20%, 23% was added. It's just part of pricing and doing business. Where I think people get upset (and I've experienced this too) is when companies show a price but they don't say that they will charge you extra if you use a credit card then you find out at the end. Some gas stations in my area do this. The price is attractive on the big sign. Then you find out at the pump.

Re: Easing rules to permit merchants to charge fees

Anonymous — Sun, 22 Dec 2013 17:58:05 GMT

In WA many of the smaller stores charge anywhere from .35c to 1.00 to use your debit card. It still isn't legal to do that, or have a minimum purchase amount.

http://money.msn.com/now/post.aspx?post=4e20e4b0-bd7e-47a5-824b-4f7920a45a1b

I can use my debit card as a debit card or a credit card but the fees still apply.

Re: Easing rules to permit merchants to charge fees

DaylightSlaving — Thu, 26 Dec 2013 02:15:19 GMT

@Gunnar419 wrote:
@chwebb1 wrote:
I don't think I'd shop at a merchant that charged a fee to use my credit cards. I doubt I'm the only one with that opinion either.
I agree. I might shop there if the merchant was very small, local, or otherwise obviously a special case. But if any bigger merchants start charging fees, it's just going to drive people to avoid them either for their meatspace competitors or their online competitors. Interesting development.