Merchant fees when transaction is less than minimum fee

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CreditJunkie
 
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Merchant fees when transaction is less than minimum fee

Postby CreditJunkie » Sat Feb 28, 2015 5:13 pm

Let's say that visa/mastercard/etc charges the merchant $0.15 + 1% for a credit or debit card transaction. What happens if the transaction is only $0.10? Would the merchant still incur a fee of $0.15? Therefore the merchant would have a loss of $0.05?


tvirk888
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Postby tvirk888 » Mon Mar 02, 2015 1:05 pm

Yes, but the merchant wouldn't take a card for a $0.10 transaction.
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Bank Of America Cash Rewards - $5K (11/2014)
Chase Freedom - $11,700 (10/2013)
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CreditJunkie
 
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Postby CreditJunkie » Mon Mar 02, 2015 1:40 pm


benhollberg
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Postby benhollberg » Mon Mar 02, 2015 8:54 pm

I successfully charged $.04 on my AMEX at Macy's one time.
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Battery111
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Postby Battery111 » Mon Mar 02, 2015 9:19 pm

benhollberg wrote:I successfully charged $.04 on my AMEX at Macy's one time.


Way to stick it to the man lol
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lobbythis
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Postby lobbythis » Mon Mar 02, 2015 10:00 pm

This post has nefarious underpinnings.

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Mar 03, 2015 12:21 am

My smallest transaction is $0.45 at Home Depot. I used Discover for 5% cash back.

My 'stick it to the man' purchase would have to be $2.14 of razor blades. ShopDiscover+ShopRunner for 10% cash back and free 2-day shipping.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

tvirk888
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Postby tvirk888 » Tue Mar 03, 2015 10:59 am

I was talking about local small business owners. Any big chain isn't going to deny a $0.01 charge.
Amex BCE - $20K (11/2014)
Amex Everyday - $20K (04/2015)
Amex Business Gold - NPSL (09/2013)
Bank Of America Cash Rewards - $5K (11/2014)
Chase Freedom - $11,700 (10/2013)
Chase Sapphire Preferred - $18K (11/2014)
Citi Thank You Preferred - $10K (11/2014)
U.S. Bank Cash+ - $5K (03/2015)
Wells Fargo Platinum Rewards - $4700 (05/2009)



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