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College and University Discussion
Reply to "Do any top 30-40 school / top SLACs accept credit card payments for tuition?"
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[quote=Anonymous]Payments 101: Every company – gas station, hotels, grocery stores, restaurants, etc.- have to pay a 3-5% charge to the credit card company for the privilege to accept a credit card as payment - this is why your credit cards can give you 1 to 2% back in rewards. There was a time when a company like Costco would only accept A specific card because they had garnered a deal where they could pay a lower exchange rate. Walmart today does not accept Apple Pay, because they would end up paying Apple/Goldman Sachs a significant percentage which would eat into their profits. Even today some small budinesses like gas stations and salons do not take CC for less than five dollars. Also, recently, I have seen popular chain restaurants charge a credit card fee. I think that’s new though. [/quote]
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