kwillia
n/a
What about debit cards? I'm thinking those under $10 should be using their debit cards.
Minimum for credit card purchase
- Thread starter Chasey_Lane
- Start date
lovinmaryland
Well-Known Member
I agree!
I used to go to the liquor store next to pizza hut in leonardtown exclusivley until he started imposing the $10 or more purchase on credit card/atm purchases. Now I go to Sunoco :shrug:
check your pmr please
itsbob
I bowl overhand
you may be right as to what the credit card company charges, but there has to be a middle man somewhere. Some account that tracks your transactions, money changes hands.. accounts are updated.
Credit card machines are (I think) provided by a bank that provides the service, they in turn charge a fee to use the machine, manage the account, and, i would assume charge you for each transaction unless you meet a certain minimum credit sales per month.
Visa may get 2% (maybe more maybe less) but that's probably nothing compared to what the bank is going to take out of that $1.89 purchase.
Chasey_Lane
Salt Life
Interestingly, the percentage I came up with is right on target. A combination of all fees accounts for 2% typically. So, that $1.89 fountain soda would cost the merchant $.04.
Interchange fee - Wikipedia, the free encyclopedia
theArtistFormerlyKnownAs
Well-Known Member
LusbyMom
You're a LOON :)
I have had my business for 2 years now. Not ONCE has anyone used a debit card. I ask everytime and it's always "credit". Their are still fees for debit cards but they are not as high as credit transactions.
misshelper
New Member
Nope, not at all. I'm actually looking forward to the next time I'm asked for id or that I didn't meet the minimum purchase requirement.
I have no problem with my id being checked when I use a CC.
tyky
eieio
me too and luckily we don't get too many credit card payers but we still have to pay monthly and we are charged for transactions and a percentage.
I still don't understand why someone would turn down a customer for being under 10.00 since it's better than no money at all and you know there is a mark up otherwise they wouldn't be in business.
misshelper
New Member
That's absurd.
It costs the merchant money to take credit cards, so they should be able to place a minimum purchase to cover those costs.
People who carry $0 cash irritate me
I carry no cash.
Chasey_Lane
Salt Life
If it has a credit card logo, I believe it is still considered a credit card and merchant fees apply.
I use my debit card for almost everything since I'm another person that doesn't like to carry cash. My debit card is convenient; cash isn't.
LusbyMom
You're a LOON :)
Most of our transactions are credit cards. But like you said you can't turn business away. Our transactiosn are normally very large and we take a big hit.
R
remaxrealtor
Guest
You are RIGHT on Bob....but some people would like everything to be exactly to their liking with little consideration of any effects that may have. I cut and pasted a days sales:
01/21/09 $1,864.69 $0.00 $0.00 $0.00 $0.00 $372.93 $0.00 $39.25 $1,452.51 The $1864 was the total sales and the ACTUAL drop after fees is the end number...$1452....That's significant when you are trying to keep people employed.
Cowgirl
Well-Known Member
D and I do use our Visa debits. Aren't they processed the same way?
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Chasey_Lane
Salt Life
I do have a problem with it. And besides, it isn't up to a store to determine if I'm the credit card holder. If my wallet is stolen and someone is out their using my funds, the obligation is with the card holder; not American Eagle.
misshelper
New Member
That's up to you. We are all different.
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GWguy
*
Having worked in retail, I'm sensitive to the businessperson and the fees that are charged. I carry cash and use it for small purchases whenever I can, but there have been times when you reach in your pocket for what you thought was a $10 bill only to find a single. At that point I use my debit card. If they don't take it, I walk out without a purchase.
R
remaxrealtor
Guest
Wow....not a shock, but still, wow....
Chasey_Lane
Salt Life
I can use my debit card as credit and have. The funds come from the same source.
Chasey_Lane
Salt Life
Wow! Like totally.
LusbyMom
You're a LOON :)
Yes they come from the same source. But if you process it as a debit and use your pin number then the charges are less. If you use it as a credit card and sign the charges are more.