Keep Track of Rising Prices

[Steve S]

That’s the latest thing… add 3% to use credit or debit.

 

[wyrman]

That’s the latest thing… add 3% to use credit or debit.

We have quit going to places that do that. We have a mexican restaurant that we've been going to for at least 15 years, they started adding the fee for cards, we no longer give them our money.

 

[Steve S]

We have quit going to places that do that. We have a mexican restaurant that we've been going to for at least 15 years, they started adding the fee for cards, we no longer give them our money.

I also have started to avoid those places with the surcharge.

 

[Steve S]

Not latest, always been there. I worked in IT at Chase Visa. As far back as the late 80s CC companies charged merchants 3% on every transaction. Its how they made there base money. Consumer interest was just the icing on the cake.
AMEX customers never paid interest, but AMEX made their money by charging merchants more per transaction which is why a lot businesses wont take AMEX.
Merchants are now passing the cost to consumers.
Thats credit. Now why debit too? Because every debit transaction goes thru visa, and they getting their cut.
Interesting side note. Visa has processing center in Cumberland, MD, Las Vegas, NV, and somewhere in Bumfark, SD. So everytransaction is posted in all 3 Simultaneously.
So even if one or two is put out of action (nuclear war, natural disaster, etc) you will still get a bill for the charges.

Merchants used to figure the cost of the CC transaction into the price of the item. If a customer paid cash, they got to keep the extra 3%... Now they add it on... but who knows if they still include it in the price and are charging an extra 3%...

 

[Golfman25]

Used to be against the Credit Card agreement to pass the transaction fee on to the customer. That is not the case any longer, which is why we are seeing it more and more.

 

[wyrman]

Yep, oh you wanna hear some shit, our Dem county exec got a plastic bag ban passed. And if you forget to bring your own, merchants have paper bags for a nickel.
So those piece of crap aholes at McDonald’s are now taking on 5 cents to every order for the bag. But didn’t they always use paper bags? Yes, but now they can.

Our governor instituted an .8c grocery bag tax, that is unless you're on welfare, then you get all the plastic bags you want for free.
This is all in the name of climate change.