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Visa authorizes credit card fees to be passed onto the consumer
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petsfed


Apr 7, 2013, 5:59 PM
Post #26 of 31 (587 views)
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Registered: Sep 24, 2002
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Re: [USnavy] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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USnavy wrote:
I've climbed at over 50 destinations around the globe, but no I have never seen that before... Like I said above, I avoid places who add surcharges to credit card purchases. Over 90% of gas stations do not impose additional fees to customers who opt to use their Visa so I have no issue with avoiding the 10% who do.

Don't spend a lot of time on the interstate, do you? I passed nearly a hundred such signs between Laramie, WY and Portland, OR about 10 weeks ago. I've seen them along I-80 between Salt Lake City and Reno, on I-5 between Seattle and Sacramento, and along I-10 between Los Angeles and Albuquerque. They are literally everywhere that truckers fuel up.

Edit: I forgot, I've also seen it on I-90 between Buffalo, WY and Rochester, MN, and also on I-25 between Buffalo and Albuquerque. Should I go on? The only possible way you haven't seen signs like this is because you're not paying for gas on these trips and you're specifically looking away whenever you pass a truck stop, anywhere.


(This post was edited by petsfed on Apr 7, 2013, 6:19 PM)


USnavy


Apr 7, 2013, 6:37 PM
Post #27 of 31 (575 views)
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Registered: Nov 5, 2007
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Re: [petsfed] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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petsfed wrote:
USnavy wrote:
I've climbed at over 50 destinations around the globe, but no I have never seen that before... Like I said above, I avoid places who add surcharges to credit card purchases. Over 90% of gas stations do not impose additional fees to customers who opt to use their Visa so I have no issue with avoiding the 10% who do.

Don't spend a lot of time on the interstate, do you? I passed nearly a hundred such signs between Laramie, WY and Portland, OR about 10 weeks ago. I've seen them along I-80 between Salt Lake City and Reno, on I-5 between Seattle and Sacramento, and along I-10 between Los Angeles and Albuquerque. They are literally everywhere that truckers fuel up.

Edit: I forgot, I've also seen it on I-90 between Buffalo, WY and Rochester, MN, and also on I-25 between Buffalo and Albuquerque. Should I go on? The only possible way you haven't seen signs like this is because you're not paying for gas on these trips and you're specifically looking away whenever you pass a truck stop, anywhere.
I was being sarcastic. I was trying to imply what I have been around the block a few times and thus I have most obviously seen the signs countless times.


petsfed


Apr 7, 2013, 8:51 PM
Post #28 of 31 (567 views)
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Registered: Sep 24, 2002
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Re: [USnavy] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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And your expectation that all sellers just eat those costs is the main reason why Walmart continues to force out small sellers. Avoiding stations like that means that you avoid stations that give you the option. Everywhere else, you're forced to pay that extra fee, whether you use a card or not.

I don't really care if I have to pay extra to use my card, because ultimately I will have to pay extra, either by being forced to shop at some place like Walmart when the little guys *that I like* get forced out of business, or by paying up front for that cost. If the easy solution is to spend more at shop, then that's what I'll do. I've had people get pissed off that I wouldn't let them run their card for a 10-cent teabag, but if I did that, we'd be paying the customer's credit card company 15 cents for the privilege.

Think of it this way: as your income increases, your cost of living, as a percent of that income, decreases. Thus, if you have to pay $30 a month on your electric bill, in addition to your cost per kilowatt (which is how every electric company in the country does it), that fact doesn't sting as bad if 1) you make $5 grand a month and 2) your cost from kilowatt hours is a lot more than $30. But if your usage is a couple of bucks and you're making minimum wage, that fee makes a serious difference.

The simple fact of that matter is that the Walmarts, REIs, Safeways of the world are in that "fees aren't an issue" category, but they end up dictating the prices for smaller companies where the fees *are* an issue. You think Miguel's is happy when you lay down your card for one carabiner, even if REI doesn't give a shit? That's money out of their pocket, and it wouldn't be if you'd just gotten cash when you'd deposited your paycheck.

To the topic at hand, what I understand this to mean is that Visa will allow merchants to charge a different fee for Visa transactions vs. Mastercard transactions (for instance) and to specifically cite it specifically as a "Visa" fee, rather than the general credit card fee.


curt


Apr 7, 2013, 9:32 PM
Post #29 of 31 (561 views)
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Registered: Aug 26, 2002
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Re: [petsfed] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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petsfed wrote:
...Think of it this way: as your income increases, your cost of living, as a percent of that income, decreases. Thus, if you have to pay $30 a month on your electric bill, in addition to your cost per kilowatt (which is how every electric company in the country does it), that fact doesn't sting as bad if 1) you make $5 grand a month and 2) your cost from kilowatt hours is a lot more than $30. But if your usage is a couple of bucks and you're making minimum wage, that fee makes a serious difference...

Heh. You have perhaps unwittingly stated the utility function of money--a well established economic principle.

Curt


petsfed


Apr 7, 2013, 9:40 PM
Post #30 of 31 (556 views)
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Registered: Sep 24, 2002
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Re: [curt] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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curt wrote:
Heh. You have perhaps unwittingly stated the utility function of money--a well established economic principle.

Curt

One that I was struggling to express in a way that USnooby would understand.

It was quite intentional.


scrapedape


Apr 9, 2013, 5:39 AM
Post #31 of 31 (511 views)
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Registered: Jun 23, 2004
Posts: 2392

Re: [petsfed] Visa authorizes credit card fees to be passed onto the consumer [In reply to]
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petsfed wrote:
I was struggling to express in a way that USnooby would understand.

Good luck with that.

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