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This exists in some markets, especially amongst small businesses. Not so much with major retailers/hotels/etc.
American consumers will likely resist this. Major companies like Wal-Mart, Macy's, airlines, etc won't need this, as they process such a huge volume of transactions that their CC costs are rather small as a % per transaction. Small retailers like your local liquor shop, gift/greeting card boutique, or independent restaurant will pay much higher percentages. They can institute these charges and risk pissing off their customer base. Or they can charge $21 for the dish that used to cost $20.
Many people do not use credit cards just because they do not have money; they use credit cards so they are not carrying around a bunch of cash with them. It is convenient, and some cards give you cash back, award points, etc.
The majority of merchants, and all large scale merchants, are not going to charge more for card use.
Excellent point! I am tired of hearing people say things about those of us using credit cards doing so because we don't have money or can't afford the things we are buying. I never carry cash- I use my credit card for all purchases big or small, and then pay the bill in full at the end of each month. It is for convenience and also a nice added feature as mentioned above are the reward points (cash back) that I get.
If any retailers start charging fees for using credit cards I will just not go to their stores, I will go to the ones who do not- plain and simple. Stores will definitely lose business if they decide to start doing this.
good luck with that is all I can say...people should pay with cash anyways...if they haven't got it, they shouldn't buy it.
I use credit cards to pay for almost everything. I don't carry a balance and have not paid interest in 20 years. I use them because I get cash back bonuses, an extra savings on gasoline, and extra warranties on my purchases.
For example, my American Express gives me an extended warranty on all purchases against accidental damage and theft, as well as an extra year extension on the manufacturer's warranty. I also get a price match guarantee, which means that I get an automatic credit to my account if the item I purchased goes on sale within X number of days.
I know there are many people who misuse credit cards, but there are also people who use them because they make financial sense. I would not shop at a store that charges credit card customers more money. I think that most major retailers will not change their current policies because it will cost them business.
Many people do not use credit cards just because they do not have money; they use credit cards so they are not carrying around a bunch of cash with them. It is convenient, and some cards give you cash back, award points, etc.
The majority of merchants, and all large scale merchants, are not going to charge more for card use.
Could be right...though I think the main reason people use credit cards is because they DON'T have the money...debt seems to be an OK thing in today's society...most people are in deep....reminds me of an old stompin tom song..."we'll save a lot of money spending money we don't got".
Sometimes cash money makes for a much better deal...and sometimes paper trails aren't wanted.
Could be right...though I think the main reason people use credit cards is because they DON'T have the money...debt seems to be an OK thing in today's society...most people are in deep....reminds me of an old stompin tom song..."we'll save a lot of money spending money we don't got".
Sometimes cash money makes for a much better deal...and sometimes paper trails aren't wanted.
Yes, but sometimes they are helpful. I have an LLC, and deduct things I buy that are related to my business. Having the information stored for me all in one place is a good thing for me, as I am not the most organized person. If need be, I could easily get proof of my purchases past and present in 2 minutes on the credit card website.
Cash is foolish. You're already paying higher prices for credit card transaction fees. Might as well have consumer protection and 1-5% of your purchases back.
good luck with that is all I can say...people should pay with cash anyways...if they haven't got it, they shouldn't buy it.
- I hate going to the ATM - it is completely out of the way and requires extra time before I actually need to get somewhere
- It is not safe or smart to carry around hundreds of dollars on your person at a time
- I get rewards back - like the two $50 checks I recently received. Maximum of $300/year per card
- there's all sorts of protection and extended warranties (by an additional year at no cost) if you purchase with a credit card
I was watching Maxed Out on Netflix and they describe how credit card companies love when people pay just the minimum due every month and the rest is charged 20%+ interest. Well of course - that's how they are so profitable. It's easy to lose control with having a credit card but there are also so many positives, and free if you do it right.
Last edited by ovi8; 12-28-2013 at 11:12 AM..
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