re: Credit card processing fee

I will take my business else where if I get shook down for cash.

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I would really appreciate meaningful and not smart arse responses.

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Part of dumbing down society is removing cash and checks from the equation as it adds a "tax" that has become mandatory as the federal government has assisted private industry in changing consumers preferences.

My issue is when the consumer cost is far above a reasonable return and a monopoly is greater that limits true free trade.

I am not opposed to credit cards but they are like Stub Hub in the greedy bastards hit up both the buyers and the sellers when a simpler and fairer model probably exists if the monopoly becomes controlled by the government or is broken up entirely.

2% to 4% to sellers
12% to 24% to buyers

Hell, organized crime would love to get returns like that!

Being old enough to remember when banking required floors of people (lots of jobs and payroll + lots of square footage costs) I can see the expense. When that cost has been reduced to a single computer (and massive labor expenses saved) it follows that the cost to both sellers (fees) and buyers (Interest) should go down accordingly but they have not.

Chaps my arse to have 97% buying power just so some monopoly can get richer at the expense of the masses. Cash is 100% buying power and you could haggle a bit more for paying cash (or check). When I was in college (a long time ago) I paid my rent in full on January first in cash and my landlord gave me November and December rent free. I paid my insurance once a year and got a discount of 10% for doing so. Not only did I save the fees and interest of credit cards but I got more for my money in actual discounts.

If you're running that much money through credit card transactions you should have negotiating power to get lower fees. That's the smart thing to do.

Not taking credit cards or raising prices to include the fees would be the stupid thing to do.

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removing cash and checks from the equation as it adds a "tax" that has become mandatory as the federal government has assisted private industry in changing consumers preferences. My issue is when the consumer cost is far above a reasonable return and a monopoly is greater that limits true free trade. I am not opposed to credit cards but they are like Stub Hub in the greedy bastards hit up both the buyers and the sellers when a simpler and fairer model probably exists if the monopoly becomes controlled by the government or is broken up entirely. 2% to 4% to sellers 12% to 24% to buyers Hell, organized crime would love to get returns like that! Being old enough to remember when banking required floors of people (lots of jobs and payroll + lots of square footage costs) I can see the expense. When that cost has been reduced to a single computer (and massive labor expenses saved) it follows that the cost to both sellers (fees) and buyers (Interest) should go down accordingly but they have not. Chaps my arse to have 97% buying power just so some monopoly can get richer at the expense of the masses. Cash is 100% buying power and you could haggle a bit more for paying cash (or check). When I was in college (a long time ago) I paid my rent in full on January first in cash and my landlord gave me November and December rent free. I paid my insurance once a year and got a discount of 10% for doing so. Not only did I save the fees and interest of credit cards but I got more for my money in actual discounts.

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This guy gets it! The gov assists these companies in their arse rape of the public.

I refuse to shop at businesses that have different prices for credit customers.

You say it cost you more, but now you jave to hire someone to count the money. Oh wait, hire 3 people because you need a cashier, supervisor, and back office person because one of them will steal from you. The pay some armored car company to deposit the money for you. Pay obamacare for those 3 employees. Oh and if I write a check be prepared for it to be fake. Nownyou have to pay a check processing company so you dont have to eat bad checks.

I believe debit card is considered a check, you might get a small swipe fee, but not the 2.7-3.5 cc fees.

No protection for fraud for the card holder.

The problem is that we quoted a job around $30k and the guy insisted that he paid for it on his AMEX. AMEX charges a ridiculous fee. What do we say? No? That's over $1k in our profit just to earn him points.

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I’d consider this to be a cost of doing business.

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Not disagreeing with this, just on the government has allowed it to dominate and it may not be in concert with reality.

Utilites are a private business but as they are needed they are limited in what they can charge their consumers to control cost of a deemed "necessity". Treat fees for credit or debit the same way. Instead of charging a % of the sale, just charge a flat fee, especially when you are usually gouging the consumer on the interest side of the equation.

3% of 1.00 = .03
3% of 100.00 = 3.00

Say maybe charge 5 cents for the first 10.00 and cap at 1.00 for every charge over 100. Especially if we get to the point where "necessary" bills will no longer take cash or check like utilities or groceries.

The individual citizens should have the say so on any bill that becomes a "necessary" cost to basic human living.

While many on here quote the convenience of charging with plastic, they are also giving up privacy in completing that transaction. While folks may say that should only worry criminals, in an era of big brother that purchase at McDonalds may lead to higher insurance premiums as you are now a "risk" according to some big corporations computer program.

As with many things, freedom requires vigilance and personal responsibility. It is when it is removed by degrees that most real freedom is lost without even a mild protest.

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What do we say? No?

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depends on your margins AND how big of a customer he is for future business

You complain about your customers using credit cards. I'm sure your paying for all of your business expenses and personal items with cash?