MacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-23 months agoWell butter my butt and call me a biscuitlemmy.todayexternal-linkmessage-square127fedilinkarrow-up17arrow-down10file-text
arrow-up17arrow-down1external-linkWell butter my butt and call me a biscuitlemmy.todayMacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-23 months agomessage-square127fedilinkfile-text
minus-squarePretzilla@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoThey already make 3% on every purchase
minus-squarezqps@sh.itjust.workslinkfedilinkEnglisharrow-up0·3 months agoWhich is an insane return by itself if people use their cards for everything, as they do in the US.
minus-squareAA5B@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoThat’s a good point - there are transaction fees that could support the business. And we even inflate those with cash back and other rewards
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoNo, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
minus-squarepiccolo@sh.itjust.workslinkfedilinkEnglisharrow-up0·3 months agoCredit cards companies have a merchant fee, ussually around 2%.
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoIt was illegal for vendors to charge a fee for card purchases, so if that was the case then they maybe just raised their prices.
minus-squarepiccolo@sh.itjust.workslinkfedilinkEnglisharrow-up0·3 months agoIirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge…
minus-squareMirthfulAlembic@lemmy.worldlinkfedilinkEnglisharrow-up0·3 months agoThe merchant is charged the fee, not you directly as the cardholder. It’s already figured into the price if they accept cards.
They already make 3% on every purchase
Which is an insane return by itself if people use their cards for everything, as they do in the US.
That’s a good point - there are transaction fees that could support the business. And we even inflate those with cash back and other rewards
No, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
Credit cards companies have a merchant fee, ussually around 2%.
It was illegal for vendors to charge a fee for card purchases, so if that was the case then they maybe just raised their prices.
Iirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge…
The merchant is charged the fee, not you directly as the cardholder. It’s already figured into the price if they accept cards.