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re: Is there any excuse for an established business to not take credit cards?
Posted on 1/23/17 at 7:39 am to anc
Posted on 1/23/17 at 7:39 am to anc
quote:quote:
My hair salon just started charging 3% more if I use a credit card. a-holes.
This is actually a violation of their merchant account agreement.
Unless you know the salon and Which credit cards they take, this may not be true. I'm pretty sure they can't do it for debit cards, and definitely not under American Expresses agreement but I'm pretty sure they can if they only take MC/Visa. My understanding is if you charge a surcharge it has to be for all credit cards, so if they accept American express you probably can't charge a surcharge without being in violation of something.
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Posted on 1/23/17 at 7:44 am to Clint Torres
quote:
Any serious business that wants to be around in 10 years takes cards
Yeah Old Tyme Grocery is never going to make it.
Posted on 1/23/17 at 9:26 am to baldona
quote:
This is a good thread to divide the salary guys from the guys that run their own business. That 2-3.5% comes straight from the profit margin, I don't know why more businesses don't refuse cc's but have an ATM they own. They could go from a 2-3% loss to a 3-5% gain by offering cards.
The main business that doesn't take cards generally across the board is auto sales. Few do.
I raised my prices 3% across the board when I first started taking CCs. Then I write off my cc fees in federal taxes.
Not a big deal. It's a push.
It's convenient, the money is in my account the next day.
Though I do prefer checks, many people want to use credit.
Posted on 1/23/17 at 9:40 am to baldona
quote:
They could go from a 2-3% loss to a 3-5% gain by offering cards.
Or it isn't that simple at all. Profit is a function of sales and unless you are already receiving more business than you can handle then sales would drop.
This post was edited on 1/23/17 at 9:42 am
Posted on 1/23/17 at 9:41 am to Pelican fan99
Why should they have to have an excuse? This is America. The proprietor of a business should be able to run it however they see fit.
This post was edited on 1/23/17 at 9:44 am
Posted on 1/23/17 at 9:41 am to Pelican fan99
quote:
I don't care that you have an atm machine
ATM= Automatic Teller Machine. You don't have to say the word machine after ATM, you repetitious bastard.
Posted on 1/23/17 at 10:04 am to whoisnickdoobs
quote:
You don't have to say the word machine after ATM, you repetitious bastard.
You wouldn't say Chineses!
Posted on 1/23/17 at 10:05 am to Napoleon
quote:
I raised my prices 3% across the board when I first started taking CCs. Then I write off my cc fees in federal taxes.
You know as well as I do it's not simple. They are an expense for everyone.
First off, most people don't realize that debit cards are generally a 0.95% fee. Amex is usually 3.5% and credit cards are 2.2-3%. So the business is paying 1-2% of the total for you to 'get points' or use credit which is BS. I don't think anyone would complain about 1% to make their life easier.
Most importantly though, everyone acts like it's only 2% of their profit. That's laughably ignorant. If my profit margin is 10%, and I'm paying 2-3% CC fees then at best cc's are 10% of a profit margin and at worst 30%. I'd say 30% of a profit margin is a big freaking deal.
The worst part and biggest BS is that you pay CC fees on everything including sales tax. I'm charging 11% sales tax that I'm paying CC fees on. That adds up very quickly.
I take cc's and I get both sides. But it's not a simple issue at all.
Posted on 1/23/17 at 10:05 am to Pelican fan99
quote:
Is there any excuse for an established business to not take credit cards?
Did the mean lady at Fleur De Lis make you wait for your pizza while you got cash?
Posted on 1/23/17 at 10:10 am to Clint Torres
quote:
Any serious business that wants to be around in 10 years takes cards
Red Bar is the most popular bar on 30A, has been for years, and they're cash only
Their smoked tuna dip is top notch too
This post was edited on 1/23/17 at 10:11 am
Posted on 1/23/17 at 10:53 am to upgrayedd
Pretty sure Fleur De Lis is still cash only and I am ok with that.
Posted on 1/23/17 at 11:00 am to Pelican fan99
quote:
atm machine
What does that M in ATM stand for?
Seriously though... I agree, it seems silly not to have a merchant services contract. Prime example is "Port of Call" in New Orleans. I had no idea until after we ate. Had to leave my ID and phone there and run to the nearest ATM to get cash to pay my bill.
Posted on 1/23/17 at 11:06 am to Pelican fan99
I hate the $5 and $10 min to purchase with a card places. 
I walk out more often than I pay with cash even when I have cash on me.
I walk out more often than I pay with cash even when I have cash on me.Posted on 1/23/17 at 11:06 am to DeafJam73
quote:
What bank does this?
Typically banks with a smaller footprint or minimal brick and mortar buildings.
First Federal in Lake Charles does this.
Posted on 1/23/17 at 11:07 am to Pelican fan99
Businesses that have a 10$ minimum is worse.
Posted on 1/23/17 at 11:08 am to Pelican fan99
quote:
It's the year 2017 get with the program. And no I don't care that you have an atm machine I don't want to have to pay a withdrawal fee
Who is making you shop there again?
This post was edited on 1/23/17 at 11:12 am
Posted on 1/23/17 at 11:09 am to dewster
quote:
And usually passing the fees onto all customers, including ones paying cash.
This...
If a business is not taking cards because they don't want to pay the processing fee.. then they aren't pricing their products correctly.
Posted on 1/23/17 at 11:11 am to SaturdayTraditions
quote:
Typically banks with a smaller footprint or minimal brick and mortar buildings.
Or reputable bank and investment companies that don't nickel and dime customers. I've been a Fidelity Investments customer for 20+ years and never paid an ATM fee or any other fee to use my own money. It astounds me that people would pay money to have a checking account or use an ATM.
Posted on 1/23/17 at 11:15 am to Napoleon
quote:
Though I do prefer checks, many people want to use credit.
This seems backwards to me...why do you prefer checks? More financial fraud is done with checks with little to no recourse for the merchant.
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