Thoughts on this article?

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Robrus1
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Thoughts on this article?

Postby Robrus1 » Fri Dec 20, 2013 11:06 am

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Postby MemberSince99 » Fri Dec 20, 2013 11:33 am

They've already built in the cost of credit cards into their business model. It's just another way to increase profits because they will charge people more saying they are doing it to cover a fee that we've been paying for all along.


Maybe the CEO gets another 5 million in his bonus this year.


I will tend to avoid doing business with places who try to gouge this way.

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Postby Obi-dan » Fri Dec 20, 2013 11:38 am

I read this this morning. This hes been the cost of doing business for years and that pricing is already built in. There may be a few that discount but I assume most will just add on a surcharge to the already existing price structure.
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Postby MemberSince99 » Fri Dec 20, 2013 11:50 am

I'm also not using my debit card regardless of what happens. I sure do not want that getting hacked, which could happen anywhere (just look at Target for an example) and them draining my account. That is a MUCH worse disaster than if your credit card gets hacked.


And besides debit cards do charge them fees, I don't get the whole emphasis on that. In some cases from what I've read debit cards charge more.


I suspect all they will do is ultimately use this to justify trying to gouge the hell out of us to increase profits. Everything they do is profit driven, anyone who has worked in the American system can tell you that. Everything else is secondary.

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Postby Robrus1 » Fri Dec 20, 2013 11:56 am

Seems like it's a war over who gets the swipe fees. The merchants or the credit card companies. If Merchants are allowed to charge more, even after having those fees factored into their pricing, then they increase profits while people will cut credit card use making the cc companies lose money, ftw. As it stands now, obviously the credit card companies are profiting, but so are the merchants. I suppose the least fortunate ones are the ones using debit. Paying the factored price for a credit swipe, while reaping no rewards.
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Postby MemberSince99 » Fri Dec 20, 2013 11:58 am

Those people are better off using checks, or even cash. At least paying cash you won't get your bank account drained if the merchant gets hacked.

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Postby dickey1331 » Fri Dec 20, 2013 12:50 pm

I wont shop somewhere if they charge more for credit cards.
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Postby samhradh » Fri Dec 20, 2013 1:53 pm

I think the merchants/credit cards companies are short-sighted.

The real elephant in the room is how/if using square, paypal, google wallet, etc. will change things. Imagine a google shopping rewards program?
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Postby otter » Fri Dec 20, 2013 9:41 pm

dickey1331 wrote:I wont shop somewhere if they charge more for credit cards.


+1. And that's why you won't see an extra surcharge on customers who use credit cards as opposed to debit cards/cash...
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Postby BonusPack » Sat Dec 21, 2013 11:53 am

Credit card companies know that we use their cards for the rewards and they don't want these surcharges to throw off their rewards programs. Whenever a big business doesn't want something to happen they usually find a way to stop it. Plus businesses that charge extra for people using cards know doing that can really hurt them. Every now and then articles like this pop up but I haven't seen too many businesses actually add a charge for card usage. The store I work at would never do that. Because they see the value in keeping their customers. Plus its true any additional charge the business has to pay for you using your card will just get lumped into the price of the product. That way you still pay but its not too obvious.



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