Credit Card Fees passed through from merchant

[Anonymous]

Get rid of rewards. They make people feel good but are counterproductive in the long run.

[Anonymous]

Fees are going to sky rocket under trump

Repukes have already removed the caps.

Just like prescription drugs.

[Anonymous]

Anonymous wrote:You want to be mad at Vendors / businesses like Arlington Soccer Association. Travel soccer fees are around $2,500 for the year. To charge by credit card, it was roughly $150 fee to use a credit card, well in excess of the credit card processing fee. I actually wrote a check since I could not justify that "convenience fee."

It's either that or add $150 so your fee is $2,650 - either way, the bank and the registration platform get a cut, it's not like that $150 goes to Arlington Soccer

[Anonymous]

Anonymous wrote:

Anonymous wrote:But how do they justify charging as a PERCENT?

The merchant pays a percentage of the total transaction to the card processor. In addition to that, they pay a fixed fee.

That's insane then. Because the cost of processing is completely independent from the price of the service/item.
So people will NOT find it more convenient to use a credit card at all, thus negating the utility of a credit card payment.
Many people use them because it's electronic and protected. Not because they can't afford something and need to finance it. If that need goes away, is ACH as protected? Will companies accept checks in the mail and the wait times and processing involved in that?

[Anonymous]

Anonymous wrote:Fees are going to sky rocket under trump

Repukes have already removed the caps.

Just like prescription drugs.

Heard the opposite. They might cap interest rates on CC fees at like 10%-15% max because of predatory lending from banks.

[Anonymous]

Anonymous wrote:I get that the merchant faces processing fees and prefers a check. When I can, I write a check. I still have checks.
But how do they justify charging as a PERCENT? It should be a flat transaction fee! So the more I spend, the more it costs them to process my credit card? We tried to buy online tickets for a charity gala, and of course they don't want credit card fees to offset their fundraising, but as we clicked up to "platinum table tickets" or whatever, the fees for the tickets went up to like $250! Guess who didn't buy charity tickets.

Wow, you are DUMB. The credit card company charges the percentage, you idiot, they're just passing that along. WOW.