Credit Card Processing Fees

[clunk]

Someone posted earlier about credit card processing fees at pelletsales.com. South Shore Wood Pellets in Holbrook, MA is also charging credit card processing fees. See:
(broken link removed)

 

[tjnamtiw]

Someone posted earlier about credit card processing fees at pelletsales.com. South Shore Wood Pellets in Holbrook, MA is also charging credit card processing fees. See:
(broken link removed)

Unfortunately, you're going to be seeing this trend for everything as the economy goes further into the tank. Companies can't absorb 3 or more % to use your credit card where someone else pays cash. A sign of the times, I'm afraid.

Your big Obama-promised tax break will more than cover that cost, though. And your increased property taxes, increased electric rates, etc......

 

[OU812]

I am seeing this trend at a lot of gas stations around here and they usually charge 10 cents more a gallon if you pay by credit card. I don't think you can do anything about this other than pay by cash or check. It doesn't seem fair to charge a higher price to everyone, including cash paying customers, to offset credit card transaction fees and I don't see this trend going away in the future. Some of these companies like American Express charge too high of a transaction fee to just write it off anymore. I have heard of some merchant fees being as high as 5% of the entire transaction.

PS please do not knock Obama! This is not a good forum for politics and Bush more than screwed our entire country during his 8 years in office and now we have to pay for that.

 

[Dr_Drum]

I am seeing this trend at a lot of gas stations . . .

Ya, and let's not forget who initiated "pay at the pump", . . . . the gas stations, in order to move people through faster, free up the pumps quicker, and save money by not needing service attendants. They don't want people leaving their cars at the pump while they enter the store to pay, unless of course you purchase more items. If you pay inside, just take your time, browes around a while. They'll get the picture. When asked to move your vehicle, tell them you wouldn't have come in to pay with cash if they didn't charge those fee's. They are just assuming people will pay the charge for convenience. Even with the charges they are saving a ton over hiring attendants (like the old days). Most places around here have a prepay. That's 2 trips into the store if you're filling up.
Mike -

 

[webbie]

Credit cards, IMHO, are well worth their costs in most matters - and I can state that as both a retailer and a consumer.
Between the airline miles, the convenience and the extra guarantees...they are almost a fixture of modern life....

BUT,

When you are talking about bulk items like pellets...which are sold at extremely low markups, then the 2-5% (total cost of CC) can really put a hurting on the supplier. I recently, for instance, bought a leftover small outboard engine for somewhere near dealer cost. The seller required that I give a cc......to guarantee I was going to pick it up - but, they wanted payment in cash or check. It would have added insult to injury for them to pay the extra couple percent.

I think you can really figure it this way - most things that you buy, from gas to appliances to fashion, already have 2% tacked on because credit cards are the norm in most transactions. But if you are a farmer buying bulk lime (or a consumer buying bulk of pellets) then the seller may not have had the room to tack this on.

 

[smoke show]

my dealer has it built into the price and if paid by cash or check you get a discount

 

[tjnamtiw]

my dealer has it built into the price and if paid by cash or check you get a discount

That makes the most sense and highlights the 'convenience' of using credit cards, if you are willing to take the hit. Amex, I believe, charges as much as 8%. You can't even use it at most places in Europe. Some countries, like Germany, take MC while others, like France prefer Visa, but NOONE wants AMEX.

I apologize the Obama slam. I forgot most of you are in the NE and love him. Sorry.

(actually second cousin - yee haw) And I truly am sorry. I didn't realize you guys were so serious.

Finally, I AM a Yankee. Born and raised in Reading, Pa where my ancestors have been since 1700 and a member of the Concord group (founders of Germantown).......

 

[webbie]

I apologize the Obama slam. I forgot most of you are in the NE and love him. Sorry.

Oh, quite alright.
We figured that since you were from Ga, you attend KKK, John Birch and other such meetings and also marry your first cousin.......
%-P
Besides flying the Rebel Flag.

We should have understood.
Sorry....
(don't y'all just love those conditional apologies?)