No CC

[Magicman]

I got my oil changed and tires rotated yesterday. When checkout time came the guy quickly told me that 3.5% would be added if I paid with a credit card. I paid cash. A few weeks ago I had some welding done and was told that cash or check, no tax. If I used a credit card they would add 7% sales tax. I paid with a check.

I know that big boxes and retailers have already added the CC mark up to their prices but I wonder if cash and checks will be the new normal for small retailers??

A sign on the front door of a small local restaurant says, cash only.

My CapitalOne Business card credits me 1.5%.

 

[jimh406]

I'm thinking the CC processing companies will back off if their ploy to make more money causes them to get zero processing fees. On the other hand, the businesses could just be deciding to try to get 3% more. No idea what's the true story.

 

[PaulR]

Credit Card Fees can be a crusher for small businesses.
$100K in gross receipts @ 4%, $4000 is a big chunk of change.
Business owners are trying to save wherever they can.

 

[dlsmith]

Besides, when you pay cash at a mom and pop store, if you don't get a receipt, the sale probably isn't recorded, so it's untaxed income.
Years ago at a local restaurant, when you went to the counter to pay, if it had been a pretty busy day the owner would just leave the cash drawer open taking money and giving change without ringing them up. Took me a while figure out why some days he would close the drawer after each sale and sometimes he wouldn't.

 

[GeoHorn]

Cheaters fvck all of us and should be called-out/exposed.

 

[D2Cat]

Cheaters fvck all of us and should be called-out/exposed.

I take it you keep in close touch with all your senators and congress members, and local representatives.

 

[DustyRusty]

Credit Card Fees can be a crusher for small businesses.
$100K in gross receipts @ 4%, $4000 is a big chunk of change.
Business owners are trying to save wherever they can.

Any business today with $100,000 in credit card sales per month isn't paying anywhere near 4%. More likely about 1 1/2%. As for keeping the register drawer open, those days are mostly over because the IRS knows the percentage of the costs to profit ratio and can quickly catch the cheaters.

 

[Biker1mike]

Have to wonder if they consider themselves to be criminals by not paying the sales tax or the income tax.

 

[mikester]

I got my oil changed and tires rotated yesterday. When checkout time came the guy quickly told me that 3.5% would be added if I paid with a credit card. I paid cash. A few weeks ago I had some welding done and was told that cash or check, no tax. If I used a credit card they would add 7% sales tax. I paid with a check.

I know that big boxes and retailers have already added the CC mark up to their prices but I wonder if cash and checks will be the new normal for small retailers??

A sign on the front door of a small local restaurant says, cash only.

My CapitalOne Business card credits me 1.5%.

A charge for using a credit card is a plain old BS cash grab. You can't suck and blow at the same time.

Accepting CC is a cost of doing business and is built in to the price. At one time I opened business accounts with terms and got a 2% discount if I paid by cheque within 30 days. Then they stopped offering a discount for prompt payment so I started paying by CC. What next, a charge for accepting payments because the banks charge businesses service fees for depositing cash?

I tell these businesses wanting to charge for CC to FOAD. Another business might be happy to take my money since they don't want mine. Vote with your wallet.

 

[GreensvilleJay]

re: Credit Card Fees can be a crusher for small businesses.

but.... having a few 'bad cheques can be a LOT worse ! Not only out the money,having to go to small claims court ($$$ + time) cost a LOT as well. Can't run the shop if you're in court.....

here in Ontario CC merchant fees average 2% ( less for more sales...), over 1/2 small businesses said they'll 'eat it - NOT charge it ) simply a 'cost of doing business'. It's also far less than the 'carbon tax' they have to pay

it'd be nice if the fees were fixed at say 1%, but then CC companies are self regulating, make their own rules.

 

[85Hokie]

Lets look at the other side of this coin - which those who bitch the most do not wish to look at.

First - NO ONE said you have to pay WITH a CC ........ thats is YOUR choice - period.

WHY CC - because it is easy and typically safe to do - whip it out, slide it through and poof, you are off and running. Lazy way to pay - requires no counting of cash or coin, God forbid these HS grads having to count money quickly! Hell they cannot read a clock with hands!!! I digress....

The best part is - IF YOUR CC is "missing" lost or stolen - you make one phone call and you are no longer responsible for the thief using your card. SO they eat the bill, not you!

Now - are those CC companies making money hand over fist? Hell yeah they are - but WE the consumer have no problem with using them due to the simplicity of the system.

In my neck of the woods - I go and get some food at McD's , 12 bucks worth of stuff, and the tax is 12% - holly shyte ........... that is a rip off, but I can bitch all I want - yet I will be back every now and again.

My wife got me hooked on a CHASE CC via Amazon, I know many of you have the same thing - you know the ol "get points" for using the card. I milk the living shyte out of it !!!!!!! I ALWAYS pay at the end of the month in full and I USE their money for 30 days and then THEY pay me ......... most months $25-$35 !!!

I will pay everything I can on that card........

anyway - agree or not, we all have choices - some we cannot avoid - unless we want to.

 

[The_Wingnut]

Lets look at the other side of this coin - which those who bitch the most do not wish to look at.

First - NO ONE said you have to pay WITH a CC ........ thats is YOUR choice - period.

WHY CC - because it is easy and typically safe to do - whip it out, slide it through and poof, you are off and running. Lazy way to pay - requires no counting of cash or coin, God forbid these HS grads having to count money quickly! Hell they cannot read a clock with hands!!! I digress....

The best part is - IF YOUR CC is "missing" lost or stolen - you make one phone call and you are no longer responsible for the thief using your card. SO they eat the bill, not you!

Now - are those CC companies making money hand over fist? Hell yeah they are - but WE the consumer have no problem with using them due to the simplicity of the system.

In my neck of the woods - I go and get some food at McD's , 12 bucks worth of stuff, and the tax is 12% - holly shyte ........... that is a rip off, but I can bitch all I want - yet I will be back every now and again.

My wife got me hooked on a CHASE CC via Amazon, I know many of you have the same thing - you know the ol "get points" for using the card. I milk the living shyte out of it !!!!!!! I ALWAYS pay at the end of the month in full and I USE their money for 30 days and then THEY pay me ......... most months $25-$35 !!!

I will pay everything I can on that card........

anyway - agree or not, we all have choices - some we cannot avoid - unless we want to.

Well said! It is a choice that we all make. I agree totally with the concept of taking full advantage of using the CC and paying in full when the statement comes....however, so many people's situation changes and they may be unable to pay in full and then the 25% interest begins to add up and even when able to pay in full, the expected amount, the adjusted amount exceeds their budget.

 

[dirtydeed]

I prefer to take a CC as payment over a check any day of the week. I'm happy to pay the 1.5% to the CC company. I get my money right then and there. No bounced checks to deal with. Call it lazy if you wish, no brainer for me.

I also pay for everything with CC. Yes, lazy. I don't care. I get annoyed when I'm waiting in line to make a purchase and someone in front of me is counting out nickels to pay for their items.

 

[hagrid]

You can't suck and blow at the same time.

If I ever meet a gal that can then I call dibs.

 

[fried1765]

I got my oil changed and tires rotated yesterday. When checkout time came the guy quickly told me that 3.5% would be added if I paid with a credit card. I paid cash. A few weeks ago I had some welding done and was told that cash or check, no tax. If I used a credit card they would add 7% sales tax. I paid with a check.

I know that big boxes and retailers have already added the CC mark up to their prices but I wonder if cash and checks will be the new normal for small retailers??

A sign on the front door of a small local restaurant says, cash only.

My CapitalOne Business card credits me 1.5%.

Capital One also has a 2% card!

 

[GeoHorn]

I take it you keep in close touch with all your senators and congress members, and local representatives.

I‘ve flown a great many of them when I worked for gov’t flight operations… not many of them tell the same story privately onboard after the cabin door is closed that they told in public.

 

[Daren Todd]

I have some customers that have had a 2% to 3% charge for credit cards for years now. All were commercial enterprises (tire shop, bearing and seal supplier, pipe and fitting supply).

Certain places an extra charge would tick me off severely. Shopping restaurants, gas stations, and similar. And especially a buisiness that requires a credit card for service such as car rental, hotel, ect....

The reason being is during the covid pandemic. No one had change (blamed on a cash and change shortage) and nobody has accepted checks for years.

If Walmart or some other place like that tried to charge me extra, I would lose my sh#t. I'm already scanning and bagging my own groceries.

 

[GeoHorn]

Gun stores and gun sales at shows almost always charge 3% for CC’s. I’ve got no problem with it as long as it’s said “up front”. I can do math, and I can decide where and from whom to buy.

 

[Ton]

There’s often more than just a percentage that retailers have to pay the CC companies. It’s usually 1.5-3% plus a flat fee of 25-35 cents per transaction. That adds up. This is why a lot of mom and pop shops have a little sign that says $5 or $10 minimum for CC purchases.

 

[ctfjr]

While I don't work for a 'mom & pop' company we are still considered a 'small business'. We pay ~ $600K per year in CC fees.