Is that the same for Visa? I would imagine so.

Discover, also? IIRC, Discover only varies in the showing of ID, and is still the same as the others in the rest.

Doesn't Discover allow for the charging of fees now?

Doesn't Discover allow for the charging of fees now?

Of interest to FL residents:

My brother is the Sr. programmer for a very credit card processor, they are working on software that will allow the merhcant to add a "fee" to the transaction.

In FL it cannot be done with true credit cards, but ATM/Debit/Check Cards can have a fee attached.

Even if you sign for the purchase, the data is retrived from the card on what type of card it is.

I thought fees were illegal in Fl. Although, my former employer did that all the time. Purchase was $3.20, punch $3.50 into machine.

Of interest to FL residents:

My brother is the Sr. programmer for a very credit card processor, they are working on software that will allow the merhcant to add a "fee" to the transaction.

In FL it cannot be done with true credit cards, but ATM/Debit/Check Cards can have a fee attached.

Even if you sign for the purchase, the data is retrived from the card on what type of card it is.

501.0117 Credit cards; transactions in which seller or lessor prohibited from imposing surcharge; penalty.--

(1) A seller or lessor in a sales or lease transaction may not impose a surcharge on the buyer or lessee for electing to use a credit card in lieu of payment by cash, check, or similar means, if the seller or lessor accepts payment by credit card. A surcharge is any additional amount imposed at the time of a sale or lease transaction by the seller or lessor that increases the charge to the buyer or lessee for the privilege of using a credit card to make payment. Charges imposed pursuant to approved state or federal tariffs are not considered to be a surcharge, and charges made under such tariffs are exempt from this section. The term "credit card" includes those cards for which unpaid balances are payable on demand. This section does not apply to the offering of a discount for the purpose of inducing payment by cash, check, or other means not involving the use of a credit card, if the discount is offered to all prospective customers.

(2) A person who violates the provisions of subsection (1) is guilty of a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083.

Per FL Statutes and the AG office, it is not a violation to add a fee to a debit/check card:



It is a violation of MC/Visa policy, but not a violation of the law.

Our local newstation did a major undercover investigation on this. They had a spokesman from the AG office that verified that a merchant could add fees to debt/check cards.

Per FL Statutes and the AG office, it is not a violation to add a fee to a debit/check card:



It is a violation of MC/Visa policy, but not a violation of the law.

Our local newstation did a major undercover investigation on this. They had a spokesman from the AG office that verified that a merchant could add fees to debt/check cards.

why anyone would use a debit card over a credit card is beyond me.

you have so many more protections with credit cards.

especially if something goes wrong. like when you need to dispute a transaction, fraud protection, stolen card issues, and so on.

Stop being a **** and pay with cash for transactions of that little amount. Credit Card transactions cost around 30-35¢ up front plus another 1-3% likely eating the entire profit off the pack of gum, possibly even losing money. All you do is make places like that jack up the cost of everything. At least use your debit card if nothing else. Will only cost around 15¢ then.

A few consumers on this board must be in love inflation or their mutual funds not performing as well as they would normally (bottom line).

It would be you're in training but what that is in reference to is beyond me. Perhaps it's past your bedtime.

Any added cost adds to inflation. It's simple economics. To think otherwise is sheer ignorance of having never had to worry about setting prices or studying it.

Any added cost adds to inflation. It's simple economics. To think otherwise is sheer ignorance.

Inflation is caused by an increase in the money supply. Raising prices is actually anti-inflationary, because it reduces demand.

Any added cost adds to inflation. It's simple economics. To think otherwise is sheer ignorance of having never had to worry about setting prices or studying it.

Wrong. It's much more complex than that because you have to look at the macroeonomic effect of credit cards as a substitute for money (by money I mean M1--cash and checkable deposits) thus decreasing the overall demand for money. Overall, the effect would probably be 0 (it would be 0 in real terms) or some negligably small amount if >0.

Wrong. It's much more complex than that because you have to look at the macroeonomic effect of credit cards as a substitute for money (by money I mean M1--cash and checkable deposits) thus decreasing the overall demand for money. Overall, the effect would probably be 0 (it would be 0 in real terms) or some negligably small amount if >0.]

No one is trolling here. Don't be ridiculous. A troll makes statements purposefully to cause trouble with usually no facts and often times outright lies. You're free to think that anything that eats away from the bottom line doesn't cause inflation (or profit loss which usually means your 401k/IRAs/Investments won't perform nearly as well) but that doesn't make you right in the slightest. I can even promise you grocery stores for example include in all of our cost the cost for the plastic and paper bags. Why it would surprise you that they wouldn't adjust for a $200+ cost (in the car example) is beyond me.

On transactions under $5, a 40¢-60¢ is going to be an enormous amount of the cost of the transaction. In many places that means profit on that transaction was possibly nothing JUST off the retailers cost of the item. This excludes ALL other costs (personnel, rent, taxes, compliance, etc). The net effect on large transaction is not nearly as great but on low dollar transactions would definately cause price inflation (ie convenient stores, or the stores that normally put $5/10 minimum)

When my company looks at the bottom line for the last fiscal year and sees a $3 million expense line for Credit & Debit fees (vs a loss of only $35,000 on NSF Checks), I can promise you that gets added back to the consumer. It's one of the largest besides personnel. Far more than legal expenses including on hand legal team, more than rent of 2mil+ Sq ft of space in prime locations in wealthy neighborhoods, etc etc.

In an overall inetrent sense, the term "troll" has degenerated into meaning anyone with an opposing point of view, and doesn't even resemble it's original meaning anymore. It's especially bad on political, social issue, and sports newsgroups. It's kind of become the 21st century internet eqivalent of "Oh yeah? Says you! "

I would rather have them raise prices a few cents to cover CC fees then add a direct surcharge or minimum.

Stop being a **** and pay with cash for transactions of that little amount. Credit Card transactions cost around 30-35¢ up front plus another 1-3% likely eating the entire profit off the pack of gum, possibly even losing money. All you do is make places like that jack up the cost of everything. At least use your debit card if nothing else. Will only cost around 15¢ then.

[b]I STILL CAN'T UNDERSTAND HOW CREDIT CARD FEES CAN BE SUCH A
HOT BUTTON...BUT ALL THE OTHER
TAX DEDUCTABLE COSTS NEVER ARE...

ELECTRIC
WATER
SEWER
GAS
PHONE
TRASH
ETC

Because all those other things are generally accepted as 100% necessary. While you may disagree, the taking of credit cards is still viewed by many as an option.

Tax-deductability does not necessarily end up equaling "free".