Do any merchants refuse Visa Signature/World Mastercard?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
16 posts
sticf
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Postby sticf » Sun Dec 30, 2012 9:28 pm

MemberSince99 wrote:You know it will end up like everything else - they know we are a bunch of wusses who are too afraid to stand up for what we believe is right, so they will do this, we'll get upset, not use the cards for a while, then realize what a pain it is to carry around cash and deal with change and go inside and hand the clerk 100 bucks to fill your tank then go back in and figure out all your change, and so on, and we'll go back to using the cards and paying and letting them rape us financially. They know it, and if we are honest with ourselves we know it too. Meanwhile they will work on the next scheme to get more $$$ out of us, rinse and repeat and the cycle begins anew.


That may be for some, however not for all.

I happen to live in Texas so there is a law preventing surcharges. However, I am not opposed to paying in cash. I usually carry around several hundred with me at all times as a back up when readers are down.

The real problem with going back to a cash preferred society is most merchants do not want that much cash on hand. Do you really believe that the gas station wants someone that makes just over minimum wage to handle all that cash. Securing it every night will also be a problem. "Cash Prefered" business are subject to more thieft (by both employees and non-employees). Also there is the accounting side if this switch. Accounting is much harder IMO when cash is involved. Sure they may switch for a while but they may see their profits drop and will drop the charges again.

Just something to think about...


MemberSince99
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Postby MemberSince99 » Sun Dec 30, 2012 9:54 pm

Texas is one of the states where they can't do that, true enough. However I live in Wisconsin and they CAN do it here. Wow you walk around with hundreds? I wouldn't want to do that.

Yeah I hear you but I was seeing a chick who was a manager at a convenience store. She preferred cash to credit cards because then her store didn't have to give the card companies their cut. Now they can start charging for part of that cut, but she seemed to prefer cash just as a bottom line thing.

One things for sure - they will be squeezing US by the balls for all they can get in the end. Might as well enjoy the rewards ride while we can I don't think it's gonna last forever. There are too many smart and greedy people who are going to want that and they will manage to get it from us, one way or another.

kcarter609
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Postby kcarter609 » Sun Dec 30, 2012 11:33 pm

MemberSince99 wrote:Wow you walk around with hundreds? I wouldn't want to do that.

Why? I always have a couple hundred on me in cash. Once in a while, it's into the thousands. I carried around like $1,600 in cash plus my cards for almost 2 months. Then decided my wallet was too think and it was a little uncomfortable. You won't have any issues unless you lose your wallet or live in a really bad area. Besides the fact that nobody is going to know if you don't go and flaunt it.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

sticf
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Postby sticf » Mon Dec 31, 2012 7:59 am

kcarter609 wrote:Why? I always have a couple hundred on me in cash. Once in a while, it's into the thousands. I carried around like $1,600 in cash plus my cards for almost 2 months. Then decided my wallet was too think and it was a little uncomfortable. You won't have any issues unless you lose your wallet or live in a really bad area. Besides the fact that nobody is going to know if you don't go and flaunt it.


Exactly. Walking around with cash is never a problem for me. There are several times when it has come in handy. Left my wallet in the car, no problem here is your money. Card reader down, no problem here is your money. I am not worried about carrying cash. I have done it all my life and will continue to do it well into the future. Before you ask, I do not carry cash in my wallet. It is in my front pocket organized in a money clip. If you are a good enough pick pocket to get it... hope you have fun.

Back to topic (kind of):
If businesses really did not want to pay the credit card companies their cut they could have implemented the following policy:
Cash Discount -- One store here in town gives a 5% discount for using cash. This is completely legal and does not break the current ToS. The price on the shelf is the price of the product. When you check out they ring you up then ask "Cash or Card?" If you say cash they hit a button and the 5% if taken off the total. No one has to do a lot of math at the check out line (although their cashiers are better than most others around town).

There are a few things that people should realize about businesses. They do not pay taxes or fees. Sure they do those things on paper, but in the end those cost are added to the cost of the products and passed to the customers. Any business that does not add in its "all in cost" to the product is usually not around for long.

silver6054
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Postby silver6054 » Mon Dec 31, 2012 7:07 pm

Money card wrote:The answer is still no. Merchants are not aloud to discourage you from using a signature credit card to a regular visa like a Td bank rewards or a chase slate. But as you mentioned some places like a local sports store or a local pizza/italian restaurant they have signs that say 10.00$ limit for credit cards.


With the new settlement, discouraging signature etc is allowed! Below is from Visa. But Money cards other point is certainly correct, most employees and for that matter customers don't know the differences between the cards. And Small Biz owners posting on other forums say that the machines give no indication of the swipe fee that will be charged, so not much intelligent that they can do (potentially they can ask a customer not to use a signature card, but end up with one that charges bigger fees).

From Visa:



Visa’s Operating Regulations already allowed merchants to steer customers to other forms of payment and offer discounts to
customers who choose to pay with cash, check, or PIN debit. Following the settlement, U.S. Merchants may steer customers to use a
particular network brand, such as Visa or MasterCard; to a type of payment card, such as a "non-reward" credit card; or to another
preferred form of payment. U.S. Merchants may also encourage a customer who initially presents a Visa card to use a payment card
with a different network brand, a different type of payment card, or a different form of payment. Merchants may engage in any of
the following steering activities:
· Offering a customer a discount or rebate, including an immediate discount or rebate at the point of sale;
· Offering a free or discounted product;
· Offering a free or discounted or enhanced service;
· Offering the customer an incentive, encouragement or benefit;
· Expressing a preference for the use of a particular brand or type of general purpose card or a particular form of payment;
· Promoting a particular brand or type of general purpose card or a particular form or forms of payment through posted
information, through the size, prominence or sequencing of payment choices, or through other communications to a
customer;
· Communicating to a customer the reasonably estimated or actual costs incurred by the merchant when a customer uses a
particular brand or type of general purpose card or a particular form of payment or the relative costs of using different
brands or types of general purpose cards or different forms of payment; or
· Engaging in any other practices substantially equivalent to these.

MemberSince99
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Postby MemberSince99 » Mon Dec 31, 2012 9:31 pm

Basically I interpret that to say "merchants can try to influence you to pay any way they would prefer you pay. Do not be surprised if that is whatever makes their margin the highest".

True enough they can, but if they want to hassle us about the payment, we can always just walk out. And should that happen, we probably won't be back. So that's just the risk they take. If they're big enough that they don't care, so be it, but a lot of them will as that's money out the door which doesn't help the bottom line any.



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