Quote:
Originally Posted by ukrkoz
Ok, so that is roughly 8% surcharge. Right? 3.99 x 2 = approx 8%. She didn't say anything wrong there.  |
No. It's still 3.9% of the total, not 8%. You don't add percentages together.
Here. Let's get out our calculators.
Say the shed costs $1000. The credit card rate is 3.9%. If you paid it in total, you'd be charged $39 fee.
If you paid it in $500 payments, you'd be charged a fee of 3.9% each time, or $19.50, twice.
So if you paid it all at once, you'd pay one $39 fee. If you paid it in two payments, half at the beginning and half at the end, you'd pay 19.50 X 2, or $39 total credit card fee.
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