As a buyer of goods, it is aggravating when businesses charge an additional fee for using a card. As a business owner, I understand why they do it. The fees associated with taking credit cards eats into the profit for a business. I typically pay cash when I know there will be a fee involved. I also like the idea of cash discounts instead of the credit card fee.
The deal breaker for me was a increase on menu items last year. Stating it was due to credit card fees. Then they add a fee on top, technically charging everyone twice is the way I looked at it. I always paid cash but a fee was figured into prices to cover CC transactions. And spending $1.20 to earn .71 cents is a losing proposition anyway you look at it to me. But I guess I'm old school using old school math that has worked for generations.
I'm curious if adding the fee is still a violation of the visa/MC rules. I know it used to be, so businesses would post a price and then offer a cash discount, to do an end around the fee.
Has it changed or are businesses just doing it anyway? Seems like it must be allowed now or a lot of businesses are risking their merchant accounts.
Has it changed or are businesses just doing it anyway? Seems like it must be allowed now or a lot of businesses are risking their merchant accounts.
Oklahoma has laws against CC & DC surcharging.
LINK
ETA: May have been revised/revoked...
VISA RULES
LINK
ETA: May have been revised/revoked...
VISA RULES
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Or, us pay the cost of the convenience of us not having to carry cash.
Always another side to every issue.
Pay with debit card, according to merchants agreement they cannot charge you.
Oklahoma still has the laws, but the Supreme court ruled against New York a few years back so enforcement isn't happening.
I dont have a problem with the fee being added aslong as it is posted that is what is going to happen so you as a consumer can make the choice how you want to pay but to automatically assume someone is paying with a card is wrong in my book and yes i understand a business charging the fee.
My LGS before he went out of business would get mad at me when i wouldnt pay with a card even thou he wasnt charging the fee, and i told him he is already giving me a discount so why would i cut into his profit more by using a card i dealt with cash only with him and after explaining he had no problem if i didnt have the cash on me he would put the item back and hold it for when i came back in with the cash which was usually in a day or two.
My LGS before he went out of business would get mad at me when i wouldnt pay with a card even thou he wasnt charging the fee, and i told him he is already giving me a discount so why would i cut into his profit more by using a card i dealt with cash only with him and after explaining he had no problem if i didnt have the cash on me he would put the item back and hold it for when i came back in with the cash which was usually in a day or two.
My friend mentioned above did just that, but people still preferred the use of credit cards.
It also aggravated him that he couldn’t charge a credit card fee, but the Oklahoma Tax Commission had no problem doing it.
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