New Credit Card Checkout Fees Start January 1st.

[Burgerwars]

Link: http://www.frequentbusinesstraveler.com/2012/12/5-things-you-need-to-know-about-the-new-credit-card-checkout-fees/

[hegemony]

thanks subprime merchants!!!

 

good way to get rid of HLNW customers!!!

[Occam]

It's a shame they made it so difficult to order dollar coins.

This would have been a wonderful opportunity to put more of them into circulation.

[breeze]

Seriously. If I see those notices up, I will take my business elsewhere.

[jonson]

Honestly, if we didn't have reward cards charging the merchant extra, and if people would have tried to support small/local businesses with cash, we wouldn't be in this situation. just my opinion.

[breeze]

I know I have local stores I depend on for a lot of things. For instance, I get my prescriptions filled at a neighborhood pharmacy, and pay for them, even though my (really big) insurer wants to ship them to me for free. So I go pay a little bit to have someone nearby that I can look in the face and talk to about something important - but honestly, if they start charging me a fee to put this stuff on my card, I will switch over to the mail order system and only use the drug store for emergencies - I really don't have many emergencies that can't wait 1 day for a prescription to be filled.

[Repairerer]

What are the implications for charges like phone, cable, insurance?

[gemmabell86]

Good to know.

Glad to be living in one of those 10 states, though.

[Analysis]

I am happy to say I live in California, where those dastardly merchants are prevented from making money in this way....

[gca]

Same here. I'm glad I am in California.

[My fish tank needs sharks.]

All the local quickie marts here in Sacramento charge to use credit. Id report them but it literally is every one of them. I wish theyd post a big sign and say they do.i hate it.

[Jon77]

Woohoo, not in Texas!

[CTSoxFan]

This may be the first time I am glad to be living in CT...

[DialerGuy]

Not in Colorado!!!

 

w00t!!

[BDK]

It's a shame they made it so difficult to order dollar coins.

This would have been a wonderful opportunity to put more of them into circulation.

 

Difficult? You mean impossible...

 

Yes, I miss those days

[djrez4]

Stupid business owners complain about merchant fees and file class action lawsuits.

 

Smart business owners account for the merchant fee as a cost of doing business and price their goods or services accordingly.

[breeze]

Well, we don't call people stupid, as a rule. There are just a few under-informed people, but they're everywhere.

[NorCalR1]

I live in California, so its a non-issue for us.

[Floridian]

Not an issue here either, since Florida is on the list of the 10 states that are exempt (for now).

[up&climbing]

A store has to really have something I want to get me to pay a fee, other than that no fees for me.

 

Can the businesses write these fees off on their taxes?

[CTSoxFan]

To me this is almost no different than stores that don't take CCs. If they have a product that I can't get elsewhere, and I feel it is worth the loss of rewards, I will still frequent the business and use cash...if not, I will go somewhere that does take CCs. If I were in a state that allowed this, the value has to outweigh the additional cost.

[Denart]

A little off topic.

Long time since I have posted here, but lurk around occasionally.

I live in Texas, so I am exempt. But I often literally walk the width of a 5 lane street (from work to a little C store) into another state that is not exempt and spend about 10 to 15 bucks several time a week. It is going to be interesting to see how this effects the commerce from one side of the street to the other for all the businesses here.

The state line virtually splits the retail district for this city. Since Texas has no tax on groceries, the other state has a special exemption that allows it to not collect a tax on groceries in order to stay competitive. It is going to be interesting to see how they handle this. There may be a loud sucking sound across the state line if they are not creative

My city has 3 Wal Marts. One in Texas, and 2 in the other state. That will be interesting how they handle that one.

[jonson]

A little off topic.

Long time since I have posted here, but lurk around occasionally.

I live in Texas, so I am exempt. But I often literally walk the width of a 5 lane street (from work to a little C store) into another state that is not exempt and spend about 10 to 15 bucks several time a week. It is going to be interesting to see how this effects the commerce from one side of the street to the other for all the businesses here.

The state line virtually splits the retail district for this city. Since Texas has no tax on groceries, the other state has a special exemption that allows it to not collect a tax on groceries in order to stay competitive. It is going to be interesting to see how they handle this. There may be a loud sucking sound across the state line if they are not creative

My city has 3 Wal Marts. One in Texas, and 2 in the other state. That will be interesting how they handle that one.

 

Texarkana?

[KYBOSH]

I have mixed feelings about this law. The business owner in me cheers the move. Customers have to know what the cost of using a credit card is.

 

You cant expect rewards and card priviledges and protections for free. The costs of goods and services associated with those things WILL go up. This law takes the middle man out of the equation and puts you smack dab against the credit card company. So instead of asking the grocery store owner why the prices have inched up you have the choice of making your own discount (or shall i say opting out of the tax) on the spot. And if you think the fee to use your card is too high you can complain to the credit card company directly. To th networks, a few thousand custmer threatening not to use their Visa card is a hellofalot scarier than 3 stop and shops who really have no choice in the matter.

 

The consumer in me knows that i dont NEED to use a credit card for every quickmart run i do. While its much more convienent to whipout a card its not a big thing to carry a small amount of cash on me. Large purchases will be a problem though as i would want the protection of my CC to cover them. At this point, if i had to pay up to 3% extra to buy a big screen tv i think i should get much better perks for doing so. Like SquareTrade grade warranty coverage (with ADH) and price protection.

 

In the end, prices will start to inch down for the customer as merchants compete for business.

[Denart]

A little off topic.

Long time since I have posted here, but lurk around occasionally.

I live in Texas, so I am exempt. But I often literally walk the width of a 5 lane street (from work to a little C store) into another state that is not exempt and spend about 10 to 15 bucks several time a week. It is going to be interesting to see how this effects the commerce from one side of the street to the other for all the businesses here.

The state line virtually splits the retail district for this city. Since Texas has no tax on groceries, the other state has a special exemption that allows it to not collect a tax on groceries in order to stay competitive. It is going to be interesting to see how they handle this. There may be a loud sucking sound across the state line if they are not creative

My city has 3 Wal Marts. One in Texas, and 2 in the other state. That will be interesting how they handle that one.

 

Texarkana?

mmmmmmmmmmm...could be