Comments on: Charging You to Use Your Credit Card is Illegal

By: Tamara

Tamara — Tue, 12 Jan 2010 22:05:33 +0000

Is there some way to report companies that do this?

By: Brian

Brian — Tue, 05 Jan 2010 13:07:09 +0000

It’s amazing that people say “credit cards bring in more business”. It’s more like you are forced to accept them because people don’t have cash or their ATM cards on them. Or don’t have money in the bank, whatever. I wish we as a country could break this grip from Visa/MC, the more we unnecessarily use cards, the more we ALL pay 3-5% too much for everything we buy since these horrendous fees are built into prices.

By: Brian

Brian — Tue, 05 Jan 2010 13:01:16 +0000

The main problem is that the big credit card companies are a monopoly (triopoly) and squeezing ridiculous fees out of merchants. What’s wrong with merchants trying to encourage people to use more efficient methods of payment such as PIN debit or setting minimums? The evil people here are Visa and MC.

By: Haley McAnarney

Haley McAnarney — Sat, 14 Nov 2009 05:21:10 +0000

I own my own business but I use the owner of the buildings credit card machine and they charge me 4% for using there machine. I am trying to figure out if that is illegal too. Let me know if you know any information on this. I saw a statement on visa that it is illegal to deposit a booth renter or sole-proprietors money into your own account, so it sounds like it would be illegal considering they cut a check back to you….any thoughts?

By: RJ

RJ — Sun, 11 Oct 2009 15:00:19 +0000

I am a business owner and I am finding out that there are all kind of customers in this world. Some are sympatic and have no problems in paying an extra fee (50 cents, which obviously is not even close to make a profit or even close to cover all the CC fees), but some people are just being big time jerks and try to get anything for “free”; they complain, argue, scream, whine, you name it… for anything that it costs them more, even when they are just pennies (these are the people that I hate).

Anyway, my dilemna… should I keep absorbing these fees from CCs; or should I increase my prices which ironnically increases my CC fees too; or should I stop taking any cards…

Not an easy solution because why should I punish with higher prices to those people who pay with cash? or put it this way, why should my business suffer with the perspective that my prices went up? People’s minds won’t process the idea of “cash discount” idea before complaining about my increased prices. It will bother me to become a “cash-only” shop, I am trying to be creditable business (come on, who trust those businesses?). Besides, we are in recession and increasing prices is not what this country needs, business owners need to stay in business, keep spending and help each other.

So I am still looking for a win-win solution so I don’t have to pay too much in CC Fees, convence customers to use cash over CCs, definately not to increase my prices, and finally, not to break any laws or contracts!!

I hope this helps those people to realize that small business owners have the best intensions in doing business and not make a profit from subcharges, but we are tired to see your profits being taken away by this big CC companies.

I love this Blog, it has gave me more info on how people think about this topic.

By: Ed M

Ed M — Fri, 07 Aug 2009 12:35:24 +0000

My employer came up with a GREAT idea. I’m a sales rep and our company accepts both MC & Visa. I get paid a commission that is a percent of the gross margin of the sale (sale price less the cost of goods sold). My employer has started adding the credit card charges to the cost of goods sold thus passing on this cost to the sales rep. They also get to deduct this cost as a business expense on their income taxes at the end of the year.

That’s what I call a win-win!

By: Amanda

Amanda — Sat, 20 Jun 2009 03:25:32 +0000

Very mature Mark. Bullshit or not, the law is the law. As a business owner you are allowed to deduct those fees. If you don’t like having to pay them then don’t accept debit/credit cards.

By: Bobby

Bobby — Thu, 18 Jun 2009 22:21:23 +0000

This rule isn’t bullshit…. As a merchant you pay Visa/MC a transaction fee for each sale so you can accept those cards. Those cards bring in more customers and you make more money…. For every person charging a pack of gum with a Visa you have a person filling up their tank for $100, or buying a 6 pack.

You still come out ahead.

By: Mark

Mark — Sat, 13 Jun 2009 06:31:29 +0000

this rule is bullshit, as a merchant we are actually charged a fee each time we swipe credit cards. If we dont do minimums we would lose money on each sale…. does that make any sense?

fuck the law!

By: How useful of them!

How useful of them! — Wed, 10 Jun 2009 19:48:16 +0000

@Sandbags
Holy cow people in your area are complete jerkoffs and must be very bored during tough economic times to go around reporting small businesses to make them struggle more. Those are people’s lives they are ruining do they not realize that? Not just the owner but the employees of the business as well. I understand why other countries have such a negative view of some Americans now, self-serving, short-sighted and vindictive. Jeeze.