Cowgirl
Well-Known Member
Yep, I know I don't go to that store nearly as often anymore. I only go to get gas now and then, and if I happen to have cash on me. I don't see how it helps anyone to have the minimum.
Minimum for credit card purchase
- Thread starter Chasey_Lane
- Start date
Yep, I know I don't go to that store nearly as often anymore. I only go to get gas now and then, and if I happen to have cash on me. I don't see how it helps anyone to have the minimum.
Chasey_Lane
Salt Life
dn0121
New Member
Good articles that Im going to mention to my caterer. (Of course now watch my food taste nasty.)
Charging Customer to Pay with a Credit Card and Passing Credit Card Fees to Customers
Charging a Minimum on Credit Card Purchases
Charging Customer to Pay with a Credit Card and Passing Credit Card Fees to Customers
Charging a Minimum on Credit Card Purchases
itsbob
I bowl overhand
If you were a business owner and it cost you <>$.40 a transaction to process a credit sale, would you set a minimum?
Or would it be acceptable for them to buy a $.50 candy bar on credit?
theArtistFormerlyKnownAs
Well-Known Member
For some reason, these ladies appear to prefer that the company raise all their prices to compensate for the credit fees...so even the debit and cash customers suffer.
Not sure I understand WHY, but that's what I got from their comments
Cowgirl
Well-Known Member
I'm not a small business owner, but I'd probably think that if I set a minimum purchase amount, I'd be losing a good number of customers. It might be worth selling a $.50 candy bar or $2 soda in order to keep those customers coming back. Haven't you heard of big box stores taking losses on certain items just to get people into the store?
kwillia
n/a
Don't you think businesses that have gotten to the point they felt they needed to require a miminum purchase for credit transactions have mulled all this over already...
GWguy
*
Don't you think businesses that have gotten to the point they felt they needed to require a miminum purchase for credit transactions have mulled all this over already...
Maybe not, because a number of places I go will take a credit card, but not a debit, even tho it's the very same card and account. If they had reviewed their options, it sounds like debit is cheaper for them to process. Maybe there are some up-front costs to be "debit ready".
Cowgirl
Well-Known Member
Don't you think businesses that have gotten to the point they felt they needed to require a miminum purchase for credit transactions have mulled all this over already...
I don't know. :shrug: All I know is that they shouldn't be doing it. If they REALLY wanted to make a point or get rid of the fees, they could stop accepting all credit cards. When credit card companies realize they're losing business from merchants maybe they'll lower the fees and everyone will be happy.
It's their choice to accept cards, so I have a hard time feeling sorry for them.
itsbob
I bowl overhand
A $.40 cent loss on a sale isn't a big deal to company raking in 100 Billion a year. Selling roll of paper towels at a $.25 loss isn't a big deal when you're dropping $200 in groceries.
On the other hand, how many $.40 losses can a small business barely paying their bills take, especially when it's your only purchase? And then telling them they HAVE to make the sell and take the loss? Ludicrous.
itsbob
I bowl overhand
I don't know. :shrug: All I know is that they shouldn't be doing it. If they REALLY wanted to make a point or get rid of the fees, they could stop accepting all credit cards. When credit card companies realize they're losing business from merchants maybe they'll lower the fees and everyone will be happy.
You should buy the next mom and pop store that comes up for sale. Quit your day job, and do exaclty that.
Oh, the Rod and Reel is for sale, you should jump on that and implement your business plan..
Cowgirl
Well-Known Member
I don't want to own a store.
But thanks. I also wanted to mention that nobody forces someone to start or own a small business. 