I went to a gas station that I've never been to before earlier today, and when the pump didn't give me a receipt, I went inside to ask for one. Besides the man insisting I buy cigarettes, I saw a little sign that said "No credit/debit card purchases under $3." I thought businesses weren't allowed to do this. Should I call somebody to report this?
By the way, here's the place I went to. I pulled this picture from Google Earth, but it's a Gulf station now. It looks even sketchier on the inside than it does from the outside, but gas was $0.10 cheaper per gallon, and I used my Amex BCE to get 2% back.
Sure we're allowed to do that.
I manage a business (jewelry store) and we don't take credit cards for anything under $30. Merchant fees are expensive, and just because we have the equipment doesn't mean we're obligated to let you use it. 
--- FYI, most merchants who "don't accept American Express" have equipment that will absolutely run an Amex if they swipe it, they just choose not to. Same with Discover.
PS - Agree that gas station is creepy.
You step up to the counter with a couple of small items and your credit card.
Then you see the sign, often handwritten and taped to the register: "$10 minimum for credit card transactions."
It's a familiar scene to consumers, especially those who frequent mom-and-pop stores. There's just one difference now: It's a practice sanctioned by law.
Until 2010, most card networks prohibited merchants from setting minimums for credit card transactions, and even set up methods for consumers to turn in violators. The card issuers want cards to be universally accepted like cash, and minimum purchase requirements made them less, well, cashlike.
A coalition of retail and small business organizations asked Congress to change that. Because it costs retailers money to accept cards, small transaction amounts can make accepting cards unprofitable, especially at places such as convenience stores and gas stations, where profit margins are paper-thin. They asked for the option to require a minimum purchase amount for credit card transactions.
They got it. The request received little notice because it was tucked into a bill that became an 848-page legislative behemoth -- the Dodd-Frank Wall Street Reform and Consumer Protection Act. As fierce debates took place over whether the legislation created or preserved "too big to fail" banks, and whether to set a cap on debit card interchange fees, the short section on credit card minimum payments survived, there on page 698.
It went into law in July 2010, and all those handwritten signs went from forbidden to federally blessed.
New rules: up to $10 minimum OK
The law says that merchants can set a credit card minimum purchase of up to $10, as long as they treat all cards the same. It also allows the Federal Reserve to review and increase the minimum payment amount.
"I'm very sympathetic to the business owners and try not to pay with a credit card," says Norman Scarborough, professor of entrepreneurship at Presbyterian College in Clinton, S.C., and author of "Essentials of Entrepreneurship and Small Business Management."
"Cash customers are basically subsidizing transactions for credit card customers," he says.
@Anonymous wrote:You step up to the counter with a couple of small items and your credit card.
Then you see the sign, often handwritten and taped to the register: "$10 minimum for credit card transactions."
It's a familiar scene to consumers, especially those who frequent mom-and-pop stores. There's just one difference now: It's a practice sanctioned by law.
Until 2010, most card networks prohibited merchants from setting minimums for credit card transactions, and even set up methods for consumers to turn in violators. The card issuers want cards to be universally accepted like cash, and minimum purchase requirements made them less, well, cashlike.
A coalition of retail and small business organizations asked Congress to change that. Because it costs retailers money to accept cards, small transaction amounts can make accepting cards unprofitable, especially at places such as convenience stores and gas stations, where profit margins are paper-thin. They asked for the option to require a minimum purchase amount for credit card transactions.
They got it. The request received little notice because it was tucked into a bill that became an 848-page legislative behemoth -- the Dodd-Frank Wall Street Reform and Consumer Protection Act. As fierce debates took place over whether the legislation created or preserved "too big to fail" banks, and whether to set a cap on debit card interchange fees, the short section on credit card minimum payments survived, there on page 698.
It went into law in July 2010, and all those handwritten signs went from forbidden to federally blessed.
New rules: up to $10 minimum OK
The law says that merchants can set a credit card minimum purchase of up to $10, as long as they treat all cards the same. It also allows the Federal Reserve to review and increase the minimum payment amount."I'm very sympathetic to the business owners and try not to pay with a credit card," says Norman Scarborough, professor of entrepreneurship at Presbyterian College in Clinton, S.C., and author of "Essentials of Entrepreneurship and Small Business Management."
"Cash customers are basically subsidizing transactions for credit card customers," he says.
Thank you for clarifying. Now I'll know for next time.
@Anonymous wrote:Sure we're allowed to do that.
I manage a business (jewelry store) and we don't take credit cards for anything under $30. Merchant fees are expensive, and just because we have the equipment doesn't mean we're obligated to let you use it.
PS - Agree that gas station is creepy.
Looks like you guys better change it to $10 
"New rules: up to $10 minimum OK"
Apparently! I didn't know -- the $30 minimum was set in place by the owner, who told me her merchant provider exchanged her better processing rates if she kept the minimum that high. Knowing her, though, this either never happened or happened 25 years ago and she just kept it in place. This is the same person who told me we didn't take Discover because they charge a monthly fee for the privilege of accepting their cards and no one ever pays with a Discover (it happens once a year or so). I called the merchant provider about a month ago and that policy apparently changed over a decade ago. Voila, we now accept Discover.
I forwarded that article to her right after reading it with a note that we should probably change our policy.
Learn something new every day here! Thanks!
