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How can an auction
moonshine
Member Posts: 8,471
reflect a 4% discount for cash or check??
Price reflects a 4% cash or check discount, credit cards do not apply for the discount and must add 4
Price reflects a 4% cash or check discount, credit cards do not apply for the discount and must add 4
Comments
Credit cards COST the seller a lot of money. Credit card companies are happy to skewer the seller with swipe fees, percentages of the sale and charge backs for fraud. Credit card companies screw the seller and the buyer into a stupor.
How do you think Bank of America and Chase can afford to pay for the huge buildings, salaries of the top brass and all the bad loans they made??? Let me clue you in, they pay for it in charging 38 bucks to bounce a check, 4% "service fees" on accepting credit cards, $39.00 late fees and 29.90% punitive Gotcha interest rates for being one day late on your payment.
Send a Postal Money order and don't worry about it.
I'm sure someone is going to charge a 'tax collection and disbursement fee'.
Just spent 700 at a local mom and pop. They didn't charge me 4%. I drove 40 miles because I've used them before. They don't bargain. This is the price or this is my offer.
Always better than other dealers first offer and almost always better than their last offer too.
seems only online sellers do the 3/4% thing never at a brick and morter
Don't kid yourself; that cost is already factored into their price. When my friend Ron and I had out gun shop everything was priced to reflect a 3% CC merchants fee that we would have to pay so if someone walked in and paid cash on a big item we were 3% ahead (and Ron smiled for ten minutes). Big box stores can cut a better deal on fees but even then those fees amount to huge money. The main reason that stores like Target want you to get a credit card from them is because that they don't have to come across with any merchant fee on their own plastic. Up until this year it was technically against the regulations for merchants to charge a different rate for using a credit card (they had to agree to this when they came on board with the card) so the "discount for cash" was the SOP. It is my understanding this has changed and merchants can now openly charge a fee for accepting plastic.
Nancy Pelosi made a small fortune on the VISA IPO; don't expect Congress to reduce bank fees.
Neal
seems only online sellers do the 3/4% thing never at a brick and morter
We have 1 Brick n Mortar that does this, another one calls it non member pricing.
Guns shows are where this nonsense came from. I remember not so long along credit cards were king because they got the money that day unlike checks and they didnt have to keep so much cash on hand
now it's easy way to steal