MacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-215 hours agoWell butter my butt and call me a biscuitlemmy.todayimagemessage-square105fedilinkarrow-up1640arrow-down18file-text
arrow-up1632arrow-down1imageWell butter my butt and call me a biscuitlemmy.todayMacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-215 hours agomessage-square105fedilinkfile-text
minus-squarePretzilla@lemmy.worldlinkfedilinkEnglisharrow-up18·edit-23 hours agoThey already make 2-3% on every purchase
minus-squareAA5B@lemmy.worldlinkfedilinkEnglisharrow-up2·2 hours agoThat’s a good point - there are transaction fees that could support the business. And we even inflate those with cash back and other rewards
minus-squarezqps@sh.itjust.workslinkfedilinkEnglisharrow-up1·3 hours agoWhich is an insane return by itself if people use their cards for everything, as they do in the US.
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down1·4 hours agoNo, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
minus-squarepiccolo@sh.itjust.workslinkfedilinkEnglisharrow-up1·4 hours agoCredit cards companies have a merchant fee, ussually around 2%.
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up1·3 hours agoIt was illegal for vendors to charge a fee for card purchases, so if that was the case then they maybe just raised their prices.
minus-squarepiccolo@sh.itjust.workslinkfedilinkEnglisharrow-up1·3 hours agoIirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge…
minus-squareMirthfulAlembic@lemmy.worldlinkfedilinkEnglisharrow-up2arrow-down1·4 hours agoThe merchant is charged the fee, not you directly as the cardholder. It’s already figured into the price if they accept cards.
They already make 2-3% on every purchase
That’s a good point - there are transaction fees that could support the business. And we even inflate those with cash back and other rewards
Which is an insane return by itself if people use their cards for everything, as they do in the US.
No, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
Credit cards companies have a merchant fee, ussually around 2%.
It was illegal for vendors to charge a fee for card purchases, so if that was the case then they maybe just raised their prices.
Iirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge…
The merchant is charged the fee, not you directly as the cardholder. It’s already figured into the price if they accept cards.
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