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——-Customer Credit Card Fees #6530746
05/03/19 12:30 PM
05/03/19 12:30 PM
Joined: Feb 2014
Posts: 7,194
Louisiana
Aix sponsa Offline OP
trapper
Aix sponsa  Offline OP
trapper

Joined: Feb 2014
Posts: 7,194
Louisiana
How are the credit card fees handled whenever you receive payment by credit card?

Some stores include the fees in their prices. Other places make you feel like you’re shopping low prices, only to add the fee at checkout. What have your experiences been between the two ways of dealing with the fee... include in price or add at checkout?


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Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6530822
05/03/19 02:35 PM
05/03/19 02:35 PM
Joined: Feb 2015
Posts: 371
MN, USA
star flakes Offline
trapper
star flakes  Offline
trapper

Joined: Feb 2015
Posts: 371
MN, USA
It does not matter as a consumer, no one saves anything because all costs are passed on to the purchaser. If it is not credit cards, then some vendors soak people for shipping in base rate costs.

In my experience in doing business with plastic, I view the cut by the vendors like Paypal or the credit card companies as a business cost. They employ people too and it is a service which makes my selling simpler. They itemize, they provide a degree of protection from fraud and I can manage accounts quickly.
Cards like Discover which I use, pay me cash back at various rates, so I do earn the exchange back too in some ways.
There is also the reality that card rates are a business expense, so therefore a deduction on income tax.

What I dislike are the bean counters who refuse to use cards because it costs them a few dollars. The rates are around 1500 dollars per 50,000 in transaction income. Yes that is a very nice firearm, but the deduction in taxes means I have a part of that to purchase what I want to. Sellers who antagonize buyers end up having less sales to other vendors who make things easy for the consumer. In weighing the business end, I do not see the mania some sellers have in paying a charge to use a service, which in most cases they pass along to the consumer. It is though money and you find out what people really are like when it comes to a few pennies. I have had people who were extremely polite go animal when they thought a transaction they paid for went to another seller. Other times, for instance, I had a very sweet lady make a mistake by electronic paying 6000 dollars for a 60 dollar transaction. She simply alerted me and I refunded and could not have been more nice about her mistake, as that was a great deal of money to make a mistake on.

After my credit card number was stolen in using a California vendor, I almost always now shop through store fronts like Ebay and Amazon, even if they are liberal, as they protect the ID. It all comes down to though, that no one is forcing a seller to sell things and no one is forcing a consumer to buy things. I make a point of using the system in place as it is efficient and cost effective, in someone in the hinterlands can market globally. I benefit from it, and I do not complain that other people in these services charge for it, as they employ people who need jobs too.
I never thought I would be a person who thought cash and checks were a hassle, but when you run businesses it is not really feasible or time effective to use paper. Granted on ADC or other projects if people offer cash, I do not turn them down, but in e commerce it is cards with costs, even when the vendor charges me a 1.50 extra for a service.

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6531080
05/03/19 09:25 PM
05/03/19 09:25 PM
Joined: Oct 2011
Posts: 222
Schenectady, NY
E
EatenByLimestone Offline
trapper
EatenByLimestone  Offline
trapper
E

Joined: Oct 2011
Posts: 222
Schenectady, NY
We charge the same price regardless of the method they choose to pay.

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6531266
05/04/19 08:31 AM
05/04/19 08:31 AM
Joined: Jul 2008
Posts: 1,274
mequon, wisconsin
P
Paul Winkelmann Offline
trapper
Paul Winkelmann  Offline
trapper
P

Joined: Jul 2008
Posts: 1,274
mequon, wisconsin
I make as much money using my credit cards for my purchases as I spend for excepting customer's cards. It's a break even deal if you do it right.

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6532528
05/06/19 02:48 PM
05/06/19 02:48 PM
Joined: Apr 2010
Posts: 98
NM
H
HD_Wildlife Offline
trapper
HD_Wildlife  Offline
trapper
H

Joined: Apr 2010
Posts: 98
NM
Aix,

When we first took them we passed on the fee for Square at the time (2.75%) to them if they wanted it that way.

If they paid cash or check of course 0% added fees, the option was listed in our contracts.

Eventually we had more checks than credit cards and sometimes we'd just eat it if someone wanted to go that route.

As a business expense its perfectly legit if they want to use credit card to pass it on, and I've never had one client actually
complain about that as it is stated up front.

With govt. clients who needed to use their purchase card, we had to setup a bank related credit card account in our case
with BOA, who charge us a fee monthly to have the thing whether we use it or not, so with govt. folks the fee gets added up
front as that is their method of payment period.

With residential I don't sweat it anymore, but in the end its up to you as a business owner to decide if the 2.7% or 3% plus
comes out of your end or theirs.

Some folks put so much into a quote that is misc. from things I've seen over the years that that credit card fee is the least of
it, size of job, etc....

For a $2,000.00 job you'd be giving up around $60.00 with most vendors.

To each his own in the end, but totally legit to pass it on

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6532978
05/07/19 11:10 AM
05/07/19 11:10 AM
Joined: Jul 2008
Posts: 1,274
mequon, wisconsin
P
Paul Winkelmann Offline
trapper
Paul Winkelmann  Offline
trapper
P

Joined: Jul 2008
Posts: 1,274
mequon, wisconsin
Nobody charges me for using my credit card; Why should I charge someone else? I'm not sure what cash even looks like anymore. And I've always got my credit card statement to prove my purchases if necessary. Credit cards are the best thing that ever happened to businesses. If someone steals my credit card number, it doesn't cost me anything. If they steal my cash, it's gone!

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6536545
05/12/19 10:59 PM
05/12/19 10:59 PM
Joined: Dec 2006
Posts: 1,354
Central IA
TRapper Offline
trapper
TRapper  Offline
trapper

Joined: Dec 2006
Posts: 1,354
Central IA
cost of doing business and getting paid faster

Re: ——-Customer Credit Card Fees [Re: Aix sponsa] #6540217
05/19/19 08:48 AM
05/19/19 08:48 AM
Joined: Aug 2007
Posts: 1,109
Monroeville NJ
J
Jonesie Offline
trapper
Jonesie  Offline
trapper
J

Joined: Aug 2007
Posts: 1,109
Monroeville NJ
just part of the doing business, I prefer checks if asked how I would like payment, but more and more folks only do business by card or online. If I need to I adjust my pricing I will. You can bet the stores have put the increase in the base price so the cash and check buyers are paying it also.


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