- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Is there any excuse for an established business to not take credit cards?
Posted on 1/23/17 at 11:22 am to GoIrish02
Posted on 1/23/17 at 11:22 am to GoIrish02
quote:
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.
It kind of astounds me how many people view banks as not-for-profit entities... Why shouldn't a bank charge for providing a service and or convenience? Do you go into a restaurant and complain about being charged a gratuity on a table of 6 or more? Do you go to a mechanic and complain about being charged for parts AND service?
0
Posted on 1/23/17 at 11:45 am to jefforize
quote:
If they can make enough money and don't need them...great for them.
They don't want to pay the CC company fees for every swipe. Or give Square a cut
And tax reasons
if you go to big cities, its very common for places that own their real estate. I know 3 places walking distance from my house that are cash only. They dont seem to have trouble.
Posted on 1/23/17 at 11:53 am to Tigerpaw123
When I hear people say "i dont ever carry cash" i think two things immediately.
1. You aren't someone i want to play golf with
2. you're probably poor or boring
1. You aren't someone i want to play golf with
2. you're probably poor or boring
Posted on 1/23/17 at 11:53 am to Pelican fan99
fleur de lis?
Posted on 1/23/17 at 12:09 pm to YumYum Sauce
I don't generally carry cash.
1. I would take every dollar you have on the golf course.
2. I'm not poor. Maybe little bit boring
Depends who you ask.
1. I would take every dollar you have on the golf course.
2. I'm not poor. Maybe little bit boring
Depends who you ask.
Posted on 1/23/17 at 12:19 pm to Pelican fan99
Tax evasion by under-reporting their income
Business doesn't want to pay that 2-3% credit card processing fee that it costs them to accept the card
They want to make that extra $4 on you withdrawing from their ATM
If its a bar, its easier for bartender to ring up cash payments than to deal with credit cards and keeping up with all the open tabs when its busy. For bar owner, reasons 1-3
Business doesn't want to pay that 2-3% credit card processing fee that it costs them to accept the card
They want to make that extra $4 on you withdrawing from their ATM
If its a bar, its easier for bartender to ring up cash payments than to deal with credit cards and keeping up with all the open tabs when its busy. For bar owner, reasons 1-3
Posted on 1/23/17 at 12:40 pm to Pelican fan99
Some places are not allowed to charge when they need to buy more products so they have to pay for whatever they can afford right? I would imagine that might play a factor. There is some type of reason because you only limit yourself by not accepting credit cards.
Or maybe they just don't want a paper trail for each purchase because they don't report exactly how much money they are making, but whatever reason it is, more than likely they are either doing something shady or wholesalers can't trust them so they have to pay up front.
Or maybe they just don't want a paper trail for each purchase because they don't report exactly how much money they are making, but whatever reason it is, more than likely they are either doing something shady or wholesalers can't trust them so they have to pay up front.
Posted on 1/23/17 at 12:59 pm to OweO
quote:
Or maybe they just don't want a paper trail for each purchase because they don't report exactly how much money they are making, but whatever reason it is, more than likely they are either doing something shady or wholesalers can't trust them so they have to pay up front.
Wow I didn't realize how ignorant some people were to a small business owners profit margins.
There are plenty of times when checks make sense. Large transactions for example like furniture, cars, appliances, rent, vacation rentals, etc. Cash makes more sense for very low purchases like bars.
Let's take a used car just an example albeit not a great one. Car salesman paid $4000 and sells car for $5000, $1000 profit and 25% margin. Guy uses credit card with 2.5% fee on $5000, that's $125. Profit margin went from 25% to 21.9% but profit is cut by 12.5%. Very similar to somewhere like a bar that does many small transactions."
Posted on 1/23/17 at 1:07 pm to Pelican fan99
I pretty much avoid any business that will not accept credit cards. I don't like using cash all that much because of the rewards I get with cards and my budget tracking is so easy with them.
The thousands I've saved by using airlines and hotel points is great.
I guess I can understand if the small mom and pop restaurants or something that is barely making any money want to be cash only, but for any decent sized business, fck them for being cash only. I switched my pharmacy because they were an old family owned place that wouldn't get with the times.
The thousands I've saved by using airlines and hotel points is great.
I guess I can understand if the small mom and pop restaurants or something that is barely making any money want to be cash only, but for any decent sized business, fck them for being cash only. I switched my pharmacy because they were an old family owned place that wouldn't get with the times.
Posted on 1/23/17 at 1:40 pm to Pelican fan99
$68k in credit card fees for the business I work for. We do about 3.5 million in sales.
Posted on 1/23/17 at 1:50 pm to Bojangles
quote:
1. I would take every dollar you have on the golf course.
2. I'm not poor. Maybe little bit boring
I don't bet with people that don't carry cash.
How do you tip valet drivers, hotel people, etc.?
Posted on 1/23/17 at 2:44 pm to TheDeathValley
quote:
Pretty sure Fleur De Lis is still cash only and I am ok with that.
It's a hassle the first time, but then you get to watch them dictate their policy to someone else on the following visits.
I saw one BR elderly socialite instruct the woman in the window that she was to call her cell phone as soon as her pizza was ready, since she would be sitting in her air conditioned Mercedes for the wait. The FDL lady told her, "Lady, when your pizza is ready I'm going to yell your name twice. That's it."
Page 6 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News