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Old 01-24-2013, 02:51 PM   #1 (permalink)
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Credit Cards

Beginning Jan 27 retailors can begin to charge customers for using credit cards in most states.
Anyone thinking about it ?
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Old 01-24-2013, 04:12 PM   #2 (permalink)
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Re: Credit Cards

Nope, all it would do is create a negative situation for your clients and one more sales barrier. It is already figured into your prices as is (if you are already taking cards).
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Old 01-24-2013, 06:36 PM   #3 (permalink)
 
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Re: Credit Cards

Gas stations do this and its very confusing.
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Old 01-24-2013, 06:42 PM   #4 (permalink)
 
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Re: Credit Cards

would'nt be bad...if it just automatically charged say $2-3 each transaction...a surcharge extra.
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Old 01-25-2013, 08:20 AM   #5 (permalink)
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Re: Credit Cards

Would be better to up prices a bit & then offer a cash discount.
Hate AMEX it's almost 4% if you don't swipe it.
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Old 01-29-2013, 11:29 PM   #6 (permalink)
 
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Re: Credit Cards

Pretty sure your credit card agreement states you can not charge a transaction fee. You can charge a different price structure or "cash" discount like the gas stations...but it is a pain. In this industry, you need to take your money any way you can. You write the cost of doing business off in your taxes. If the cc rate is hurting your bottom line, you didnt price properly and have bigger issues than the small percentage ;)
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Old 01-30-2013, 11:14 AM   #7 (permalink)
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Re: Credit Cards

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Originally Posted by delany View Post
Pretty sure your credit card agreement states you can not charge a transaction fee.
You can now; part of a class action settlement against the card companies last year. (they lost)

I do tottaly agree with you, if you need that 2%-3%, your prices are not structured correctly.
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Old 01-30-2013, 02:02 PM   #8 (permalink)
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Re: Credit Cards

I might try offering 2% off for paying in cash, Just for a week or so to see what people will do.
I'm betting they will still use their cards.
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Old 01-31-2013, 12:07 AM   #9 (permalink)
 
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Re: Credit Cards

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Originally Posted by House of Tan View Post
You can now; part of a class action settlement against the card companies last year. (they lost)

I do tottaly agree with you, if you need that 2%-3%, your prices are not structured correctly.
good to know! Thanks. Doesnt change what I do, but still good to know
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Old 01-31-2013, 08:45 AM   #10 (permalink)
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Re: Credit Cards

My total end cost to process is averaging 1.9%, If I offered 2% off for cash I would be losing money. I think offering 1% off would be pointless and possibly create some kind of resentment.
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