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Started By
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Minimum credit card charges?
Posted on 11/13/14 at 8:54 am
Posted on 11/13/14 at 8:54 am
Why the hell do small shops have a $5 minimum for purchase?
I mean, I understand that they're probably paying per card swipe to the credit card vendor...
Why don't they just know what the fee is and say, "There's a $5 minimum or I'll have to add $0.30 to you bill"
I mean, I understand that they're probably paying per card swipe to the credit card vendor...
Why don't they just know what the fee is and say, "There's a $5 minimum or I'll have to add $0.30 to you bill"
5
Posted on 11/13/14 at 8:56 am to yankeeundercover
It's not always the same fee. Higher fees for Amex vs Visa/Mastercard. Different fees if you have to enter the card manually (security risk) etc.
This post was edited on 11/13/14 at 8:57 am
Posted on 11/13/14 at 8:58 am to ULSU
quote:
It's not always the same fee. Higher fees for Amex vs Visa/Mastercard. Different fees if you have to enter the card manually (security risk) etc.
This. Carry around 4 dollars and you will be in good shape.
Posted on 11/13/14 at 8:59 am to yankeeundercover
consumers would throw a bitch fit about that for a while. also I don't think you can just slap extra money on a tab, local tax codes and whatnot
Posted on 11/13/14 at 9:01 am to ULSU
quote:Well figure out what the fricking fee is and ask the upcharge people below your threshold..
It's not always the same fee.
Or make it enough to cover whatever type card someone could use... surely fees can't be over $0.50 across the board..?
It just makes me think that they're losing business because of the minimum requirement based on something that can easily be remedied
Posted on 11/13/14 at 9:02 am to yankeeundercover
quote:
Well figure out what the fricking fee is and ask the upcharge people below your threshold..
$5 sounds about right.
Posted on 11/13/14 at 9:03 am to WinnPtiger
quote:Like they don't get pissed in having to scour the shelves for something else when they just want a Vitamin Water or something else small?
consumers would throw a bitch fit about that for a while.
quote:This might actually be a thing. There was a place I worked at in Rockville, MD that did it for $0.40 and it was nice... but it was one of the few places I've ever seen it done.
I don't think you can just slap extra money on a tab, local tax codes and whatnot
Posted on 11/13/14 at 9:12 am to yankeeundercover
quote:
surely fees can't be over $0.50 across the board..?
They get charged a couple of different ways.
There is a flat fee per swipe so something in the $.12-$.25 range. Then they also have to pay a percentage of the transaction. Depending on the risk and (debit/credit) this is in the 1-3% range. At the end of the day or after a set number of transaction, a batch is processed and they are charged a flat batch fee. This part is usually just small, but if you have high volume the numbers add up.
Posted on 11/13/14 at 9:39 am to yankeeundercover
Pretty sure these violate their agreement with the card processors.
You could call your credit card company and report them, not sure it will do anything though.
You could call your credit card company and report them, not sure it will do anything though.
Posted on 11/13/14 at 9:44 am to fightin tigers
Minimum charges are no longer a violation of card holder agreements. Dodd-Frank allows stores to have a minimum charge up to $10. Law was passed in 2010
Posted on 11/13/14 at 9:47 am to iAmBatman
Ah, didn't know that had changed.
Land of the free!!
Land of the free!!
Posted on 11/13/14 at 9:56 am to yankeeundercover
quote:To get you to buy more maybe?
Why the hell do small shops have a $5 minimum for purchase?
Posted on 11/13/14 at 9:57 am to yankeeundercover
quote:
There's a $5 minimum or I'll have to add $0.30 to you bill
I dont think the credit card machine owners allow this.
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