Go-NoGo
Recycles dryer sheets
- Joined
- Oct 24, 2016
- Messages
- 433
My Chase Freedom (no fee) card rebates 3% for restaurant charges.
Citi Custom cash gives 5% back on your top spending category, but limited to $500/month spend.
My Chase Freedom (no fee) card rebates 3% for restaurant charges.
Heat is free in Texas most of the year. It was 85 today. 100+ temps are coming soon.Next thing you know they’ll start charging for the heat and electricity.
Or your table!Next thing you know they’ll start charging for the heat and electricity.
I was charged an additional 3.75% fee over Christmas when I purchase a gift card at a local steak house. I questioned it and they pointed to the sign on the register counter informing customers of the fee details. I decided to pay in cash and let my friend who eats there often know about the charge. I suppose I don't care if I know in advance, I'll just pay in cash. I rarely eat out so it shouldn't impact me to much.It will be interesting to see if these credit card fees are allowed in California now that the AG has confirmed that the new junk fee ban applies to other types of restaurant surcharges. No more hidden fees. Junk fee law bans restaurant surcharges
Kansas. But also a lot of states have rules/laws against charging credit card fees. Here in Kansas they actually prosecute businesses who get caught doing this. Everybody says the workaround is to offer "cash discounts" but I have yet to receive a receipt from any business that shows I received a discount for paying in cash, I just wasn't charged their "convenience fee" that they add when paying with plastic.What state has this law?
I have the same card, but it only does cashback rewards for restaurants THIS quarter, and it's for 5%, not 3%. Starting next quarter, it's back to 1%.My Chase Freedom (no fee) card rebates 3% for restaurant charges.
What about the convenience to the establishment of not having to handle cash? The cc fees don't seem as simple as the fries. This is also an issue for DW who says "what are we going to do when we get to a cashless society?" - something that seems to be more and more encouraged these days.. . . my main point is that the credit card cost is no different than the cost of a packet of french fries. If you want the convenience of using a card or you are hungry for french fries it is the same. You should pay the cost of what you want, not expect others who do not want the card or the fries to subsidize your consumption.
And I do not even have a debit card... I made the bank give me an ATM only card. You can ask for one if you want.Well, at least, that's what I remember Clark Howard explaining on his TV show about 20 years ago. Since then, I only use a debit card at my bank's ATM machine.
I just use the debit card as an ATM card, so it doesn't really matter to me. I make purchases with credit cards.And I do not even have a debit card... I made the bank give me an ATM only card. You can ask for one if you want.
This suggests a strategy to save some money. Outsmart them by paying cash and keeping the old lower price.The first time I am charged a fee is the last time I will go to that place...
They KNOW that the vast majority will use CC and they are just not raising their price...
+1. Customers pay the CC fees regardless, but raising prices is better than another fee IMO.Credit card fees are just a way to increase revenue without raising the price. Most businesses don’t really care for cash because it requires extra handling and on occasion gets lost or comes up short.
This is one of those ideas that spreads like sparks from a fire. When one business sees another doing this, they do it too.
I wish they would just raise the price, but many businesses, especially small ones, are afraid to do so.
The idea that merchants could charge more to the holders of premium, perks-rich cards, which are expensive, might also deter consumers from using them. Some experts question the viability of the practice given the potential for consumer backlash.
I’ve heard that variable CC fees are on the way. If you use a premium, high cost to the store owner CC, you might pay a higher fee. Supposedly Australia already does this.
Handling "cash" is not a big deal and in most cases is not optional. I say "cash" because handling checks is the same as cash.What about the convenience to the establishment of not having to handle cash? The cc fees don't seem as simple as the fries. This is also an issue for DW who says "what are we going to do when we get to a cashless society?" - something that seems to be more and more encouraged these days.
Interesting article and food for thought, thanks.Clark Howard has an interesting article on how we could soon see variable charges for using a CC:
Major Changes To Credit Card Rewards Are Coming Soon
It appears things could get interesting in the next few month when deciding which, if any, CC to use when making a purchase.
Yes, this is true - cash payers have been financing the kickbacks that the CC customers received. This is what ultimately convince me to switch to cc payments as far back as the nineties.If they were baked into the price then the people who paid with cash or debit have been getting ripped off for years.
As someone who once managed a retail store for a large well-know chain, handling cash is a big deal. It requires two people to count it, when the person with a gun comes in they go for the cash (not the credit card payments), and it tends to disappear (credit cards don't, they are "captured" by the credit card terminal). As for checks, they have bad check losses (which are greater as a percentage than disputed credit card sales). So I will have to disagree with you.Handling "cash" is not a big deal and in most cases is not optional. I say "cash" because handling checks is the same as cash.
I pay some bills electronically that don't add any fee for electronic transactions directly from checking account, such as water bill, natural gas bill, and electric bill. Comcast actually gives me a $10 deduction to autopay from checking account. At one point, natural gas billed to the credit card, but they took away that option years ago.Locally there is a huge push for cash. The county and municipal utilities charges massive extra fees to process any form of electronic payment... I calculated it was close to 10% extra if used to pay property taxes last month. Our vet tacks on a CC fee, most restaurants, all gas stations, and a lot of the locally owned stopped accepting CCs entirely.
I guess some people automatically assume credit card charges are baked in and never change, even if those charges may have been erased long ago by several other cost increases that weren't reflected on the bill..I really don't understand why everybody is commenting "CC fees have been already baked into prices, why charge fees now?". Read the news. Businesses, especially restaurants, have been ransacked by higher costs. Labor either with min wage increases or people just refusing to work (restaurants here routinely close early due to no staff... 2 long time cafes closed permanently in the last year because the couldn't hire). Do you really need a reminder of higher food costs?