My suggestion, pay cash!
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Pay Cash -- Avoid New Credit Card Fee!
- Thread starter Crabtownboy
- Start date
It also runs afoul of another law that heas been in effect for a long time
It is illegal to charge more for a credit transaction than it is a cash transaction. Or at least it used to be. It's been a while since I looked into it.
My guess is that very few merchants will take a chance on this new fee. Customer bad will at the point of sale could be a real problem. Instead they will continue to keep their prices high enough to cover the fee.
Now just to correct your demonization of credit card companies, it is up to the merchant, even if it is legal.
It is illegal to charge more for a credit transaction than it is a cash transaction. Or at least it used to be. It's been a while since I looked into it.
My guess is that very few merchants will take a chance on this new fee. Customer bad will at the point of sale could be a real problem. Instead they will continue to keep their prices high enough to cover the fee.
Now just to correct your demonization of credit card companies, it is up to the merchant, even if it is legal.
True but the IRS is exempt
poncho
Well-Known Member
Better be careful when advising others to use cash Crabby. The DHS considers people who pay in cash instead of using credit cards to be terror suspects.
DHS: Using Cash Not Credit Cards Is Highly Suspicious & Weird
http://www.youtube.com/watch?v=lolnRc1_3Hk&feature=player_embedded
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I should add, and we bought only things with the CC that we needed- travel expenses for ministry, food, gas utilities, etc.
Yep, we use our Amex for almost everything. We've been getting about $800 back a year. Pay it off every month too.
I have not used a credit card in more years than I care to think have passed. I either use a debit card or cash.
What I normally do is to eithe cash a check at my bank, or use an ATM and pay cash for purchases. I have an account with a financial institution that does not charge any fee for using an ATM. Using cash cuts down on purchases. It is very different psychologically in laying down cash and laying down a piece of plastic.
For those saying extra charges are illegal in their state it should be noted this is not an extra charge, it is a fee. I bet legally there is a difference in the definition of charge and fee. Anyway, I'll be interested to hear from anyone who uses a card Sunday and later to hear if a "swipe fee" was levied. Let all of us know.
Am I on the DHS list? I don't know and am not concerned. If I am, they msut find me very boring. :laugh:
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A surcharge is defined as:
an additional charge, tax, or cost.
One definition of fee:
a sum paid or charged for a privilege
The fee is for the use of a credit card is called a "swipe fee." You are being charged a fee for the privilege of using your card. I expect that would be one defense by the industry. It is not an additional charge for the product. It is a fee for the right to use you card. That is my guess.
It is rather like the congress saying they did not raise taxes when they increased a fee. Technically that is correct. But the money still comes out of our pockets.
an additional charge, tax, or cost.
One definition of fee:
a sum paid or charged for a privilege
The fee is for the use of a credit card is called a "swipe fee." You are being charged a fee for the privilege of using your card. I expect that would be one defense by the industry. It is not an additional charge for the product. It is a fee for the right to use you card. That is my guess.
It is rather like the congress saying they did not raise taxes when they increased a fee. Technically that is correct. But the money still comes out of our pockets.
I don't use a credit card very often, but it is likely that the first time I am charged and I know the merchandise I am purchasing has not been reduced in price, I will likely leave it on the counter and walk away.
It's also not likely I will return to that store until I have nowhere else to go that doesn't charge a surcharge for credit card usage.
I would be very surprised if any stores tried to tack on a surcharge to cover the credit card transaction cost. Sellers have been paying this fee for as long as there have been credit cards. It's a normal cost of doing business with credit cards.
Uhmmm............
It doesn't really affect our spending one way or another.
We only use one card and that's paid in full monthly.
Sometimes using a card saves money.Pick up the phone and call toll free to the other side of the country. Order their whatever and charge it to my card. Don't have to buy a stamp to put on an envelope I bought to enclose a check that I that I had to pay for printing. Plus, delivered item is less expensive, before factoring in the cost of gas, to buy locally using cash.