passing 3% credit card fees onto the customer?

[solv3nt]

Credit card companies are making money hand over first. I don't carry a balance, so they're making 3% of each of my swipes. Most people carry a balance with a minimum rate of 15%. Then you add in fees etc. And they're making a ton of money.

 

[GWS]

I noticed more and more sellers now expect the " customer" to pay for transaction fees of 3% for credit cards or debit. I always thought that was the cost of doing business? When I had a small business, I had to file every quarter and pay tax and fees. I didn't try to pass transaction fees onto the customer. Is this the new norm now on places like Gunbroker? Even FFL's are doing this.

Its a cost and those are always passed on to the consumers. Makes you wonder how dumb are the people screaming for corporations to pay their "fair share" of taxes. Are they so stupid as to think those corporations won't immediately pass those costs on to the consumer? e

It adds up quickly now that cash is no longer the predominant form of payment. I don't have an issue with this it's always been factored into prices, now they just might be letting you know that as a customer more openly.

This is why so many dealers offer "Discounts for cash"

 

[oremike]

When I was doing gun shows I'd discount 5% for cash.

 

[titsonritz]

There is, to each person that pays in cash there is a feeling of freedom from oppressive CC taxes/Fees.
Try it, more just might like it.

PS: I only have 1 CC and it is for large purchases.

Don't forget debt.

 

[Caveman Jim]

Don't forget debt.

Rarely use it if there is a fee… I ask every time I whip it out…

 

[TacticalPinky]

Rarely use it if there is a fee… I ask every time I whip it out…

 

[Stomper]

Nothing is free…

My company charges the 3% transaction fee for CC payments….. eat 3% on 5-8 figure totals? Yeah…. No.


Don't like it, pay cash, write a check, or do a direct electronic deposit transfer.

 

[American123]

Basically as a general rule:

If the company doesn't charge a CC processing fee, that means that all of their prices are already raised to account for someone paying with a CC. Basically, if you don't use your credit card to get money back, you are paying "extra."

If the company does charge a CC processing fee, their prices are not already inflated to account for someone paying with a credit card.

Either way, whining about it shows more ignorance to the situation than anything, from my viewpoint.

 

[American123]

Nothing is free…

My company charges the 3% transaction fee for CC payments….. eat 3% on 5-8 figure totals? Yeah…. No.


Don't like it, pay cash, write a check, or do a direct electronic deposit transfer.

Would you take paypal?

Paypal lets customers fund purchases via credit card, but it doesn't cost processing charges the same way a credit card processor does. My dad found that out when customers wanted to pay via credit card and he was only set up for cash/check. Now he will do, cash, check and paypal if the customers are willing to pay the additional 3% if they want to go that route and not consider it "friends and family."

 

[oremike]

Would you take paypal?

Paypal lets customers fund purchases via credit card, but it doesn't cost processing charges the same way a credit card processor does. My dad found that out when customers wanted to pay via credit card and he was only set up for cash/check. Now he will do, cash, check and paypal if the customers are willing to pay the additional 3% if they want to go that route and not consider it "friends and family."

Pay pal is not firearms industry friendly

 

[Knobgoblin]

Cash is king.

 

[Alexx1401]

I'm the same way, I only use my one CC for purchases big enough that I don't wanna carry that much cash around.

I have for a LONG time taken to using one as a check just because its so easy, protection, and points but, I pay it off. Now if I run into a store that offered me a discount for cash? I would walk in with cash. When we buy guns we do bring cash as they give the discount. I have not had my checkbook out of the safe in probably couple decades. The plastic is just safe and easy for me. If some store told me pay in cash and they knock the points off? Would have no problem with using cash with them. It is against the Terms a business signs up for when they agree to take plastic but, since the gun shops have been doing it for as long as I can remember I have to guess the banks are not willing to kick them off the ability to take the plastic by charging to use it.

 

[pogi]

My friends use to own a deli and coffee shop and someone everyday (more like 10+) would want to use a card to pay for a $2 cup off coffee.

 

[Stomper]

Cash is king.

And loose change is queen….

 

[Alexx1401]

My friends use to own a deli and coffee shop and someone everyday (more like 10+) would want to use a card to pay for a $2 cup off coffee.

That I would be embarrassed to do but, lot of the younger seem to be into paying for everything with their phone, even stuff that's just a couple bucks.
My cards have that "TapnGo" but I had never tried it till other night at work. Someone was trying to buy stuff from vending machine and it would not take cash. They asked me if I could help. They gave me the cash and I tapped my card to the reader. I see people doing this with their phones now rather than carry any cash. Guess I'm old as I feel I always have to have at least a hundred bucks with me all the time as just in case I need something. Not really sure why any more just habit I guess.

 

[Stomper]

That I would be embarrassed to do but, lot of the younger seem to be into paying for everything with their phone, even stuff that's just a couple bucks.
My cards have that "TapnGo" but I had never tried it till other night at work. Someone was trying to buy stuff from vending machine and it would not take cash. They asked me if I could help. They gave me the cash and I tapped my card to the reader. I see people doing this with their phones now rather than carry any cash. Guess I'm old as I feel I always have to have at least a hundred bucks with me all the time as just in case I need something. Not really sure why any more just habit I guess.

FYI- you can still have a good time with just a $20 bill on your person….

 

[DirectDrive]

On Gunbroker I avoid sellers that say they charge 3% for the use of a credit card.
I also avoid sellers that want a USPS money order.

A smart seller will say that they offer a cash discount and will not blabber about a 3% upcharge.
That's a win.

 

[solv3nt]

FYI- you can still have a good time with just a $20 bill on your person….

I was always confused at the strip club, for some reason the dancer didn't like me swiping my plastic.

 

[Knobgoblin]

And loose change is queen….

Why is coin money still a thing?
It's like the 1911 of physical currency.

Overwhelming response in ..4 ,3 ,2

 

[TacticalPinky]

Why is coin money still a thing?
It's like the 1911 of physical currency.

Overwhelming response in ..4 ,3 ,2

bubblegum, don't go to England.