Price is MORE with a Credit Card? - No dice!

[PvtPyle]

That 3% is calculated in my figures, since if someone reports me for the fee, I'll lose my privleges. Credit Cards fees are MY LARGEST expense every month. But the agreement you signed says you CAN NOT IMPOSE FEES OR MINIMUMS FOR ACCEPTANCE OF CREDIT CARDS.

But if the vendor uses an online service like ProPay (heaven forbid anyone give those coorked SOBs any business though), there is nothing the CC company can do about it.

[Double Naught Spy]

ReZin and waterhouse, those who complain about the credit card issues and who want to tell you what your agreement is with the company to take credit cards are simply folks ignorant of the whole credit process, suspicious of you because apparently you are trying to rip them off for 3%, and ignorant of the business. They assume that you are making a lot of money on each transation and often will be clueless as to the fact that just because you are making X % gross profit on the sale of an item, that your net may be much lower. All they know is that you paid $900 for a gun and are sellling it for $999, so you obviously could be knocking off another $50 and still come out way in the profit. They don't seem to understand that gross profit isn't the same as net profit. So another $29 would come out with the credit card and now you are down to $20 gross profit from which you will be paying rent, utilities, salaries, retirement, profit sharing, your 7.5% contribution to each employees social security, etc. All of a sudden, that gun that cost you $900 to buy just lost you $40 when you sold it for a gross profit of $20.

It is annoying to deal with such folks because all they care about is how well they are making out on the deal and they could not care less about how you come out on the deal. They are fine with you losing money because they don't work for you.

[Moonclip]

I kind of like to use credit at the local gun chain just to piss them off as they have no difference in price for credit and they usually have poor service but I can't avoid going to them for certain items occasionally that others may not stock.

[joab]

A deal is a deal.
Don't enter into it if you have no intention of upholding your end of the deal.
Calling it a discount for cash is a cheesy cop out

[MechAg94]

Personally, I like the fact that I can get a lower price using cash. If all gun shops use the "advanced" business plan proposed, we would all be paying extra like we do with most other products. If they didn't show cash prices, the sticker price would be 3% higher, but I would still be able to get the lower price more than likely. (I think have actually seen prices listed as $ + 3% before)

I think the whole premise of this thread is a bunch of complaining for the sake of complaining. If you don't like it, open your own gun shop and do it the way you want. Cheapskates will go to the other store for the "cash" price.

[MechAg94]

Originally Posted by joab

A deal is a deal.
Don't enter into it if you have no intention of upholding your end of the deal.
Calling it a discount for cash is a cheesy cop out

No offense, but who the hell are you to be concerned about that. It is none of your business. If you feel so strongly about it, report them.

Me, I like paying 3% less. In the end, you will gain nothing if credit card companies suddenly start enforceing this particular rule. The only thing accomplished would be to force the guy with cash to pay more.

[craig]

having a cash price and a credit price wouldn't bother me a bit. sounds like a good idea to me. that way i could decide if i really need [want] that gun that bad. i just wish the sellers would post both prices. figuring out 3% in your head can be a drag sometimes.

[Atticus]

They don't seem to understand that gross profit isn't the same as net profit. So

And business owners sometimes don't understand that they would not have the sale AT ALL if they were not offering the credit card option. The consumer is buying YOUR product and paying YOUR bills while paying the credit card company's interest as well. Bad bad customer. That attitude toward the customer is far too common at gunshops. The shop needs buyers...they don't need the shop.

[joab]

No offense, but who the hell are you to be concerned about that. It is none of your business. If you feel so strongly about it, report them.

I'm sorry, I must have missed the rule that said I had to agree with you before posting my opinion on anything.

[ServiceSoon]

http://www.fdic.gov/regulations/laws...0.html#6500167

S 167

"(2) No seller in any sales transaction may impose a surcharge on a cardholder who elects to use a credit card in lieu of payment by cash, check, or similar means."

[LiquidTension]

I wouldn't have a problem with posting two prices for stuff - that's what Green's does. Cash price, credit price. If you don't have cash, you pay more. Now, if they posted the cash price and then added 3% at the register that would be unacceptable.

[Ohen Cepel]

I have no issue with them charging for your privledge to use a credit card. It cost them so why shouldn't it cost you.

I don't expect them to ship things for free either.

It's part of the reason I prefer to do business in cash.

[Hawk]

I understand the seller's issues involved with cc fees.

That said, anybody that attempts to circumvent a binding agreement that they voluntarily signed not to surcharge credit cards makes me wonder how their ethics may affect their dealings with me.

Thus, I choose not to do business with sellers that surcharge credit cards.

I don't berate those that do. The seller has that right. I exercise my right to avoid them.

My Auction Arms list of sellers whose auctions I check is very short. They all take credit cards and don't surcharge.

Do I miss some deals that way? No doubt. My choice. But I can't see whining about those that do surcharge - just go elsewhere.

[hotpig]

Originally Posted by jason10mm

Does the 3% fee apply to DEBIT cards as well? I'd hate tothink that I'm hitting my favorite dealer with a 3% charge everytime he cuts me a deal on something, particularly if I could have brought cash just as easily.

I pay .35 per transaction plus 3.35%. Internet and phone sales cost more than swipping the card since there is a bigger risk.

Oh, you changed your mind? Yes I will credit you card for the full amout. They charge me .35 plus 3.35% again. Discover is the worse, they have their fingers in my bank account for verious fees all the time. I hope that I at least break even on sales that pay with Discover.

[Gordon Fink]

Let’s put this to the test …

Polish P-64 pistol for $139.95 (standard price) at AIM Surplus. http://www.aimsurplus.com/acatalog/P...18_Pistol.html

Polish P-64 pistol for $139.95 (cash-discount price) at SOG. http://www.southernohiogun.com/surplushandguns.html

Who do you think will make more sales?

~G. Fink

[Beren]

I hope that I at least break even on sales that pay with Discover.

Just curious: if you can only hope to break even on Discover sales, at best, why accept Discover for payment?

[Euclidean]

Doesn't taking another form of payment increased the volume of business appreciably enough to justify a lower net profit on each transaction?

I understand small businesses sometimes can't be hassled to take plastic, but I'd sure try to if it was me.

[Sir Aardvark]

Credit Card fees are factored into every purchase; we all pay a little bit more money to cover this convenience.

I think you're being a little bit mean to this guy because he's being honest with you.

He gave you a choice: pay the cash price, or pay the 3% more credit card price.

Would you feel better if he just quoted you the 3% higher price as the actual price and did not give you an option? At least you were able to have a choice in this.

I do realize that accepting credit cards generally gives a rise in sales volume due to the convenience factor, but it still costs money to do this, and you can be certain that the cost of doing business is going to be passed on to the customer - at least this guy was trying to be fair and save you a little bit of money.

You could always request that he ship the product COD - lots of places do this - but then you have the hassle of going out and getting a money order and paying COD fees and money order fees. So....by the time you add up your fees to be paid and the time it takes to get the money order and all that, you might as well just suck up the 3% credit card fee and be happy with it.

[mrtgbnkr]

Originally Posted by jason10mm

Does the 3% fee apply to DEBIT cards as well? I'd hate tothink that I'm hitting my favorite dealer with a 3% charge everytime he cuts me a deal on something, particularly if I could have brought cash just as easily.

If you are using your DEBIT card and entering your PIN at the time the card is swiped, then no, your shop is not being charged a percentage of the purchase price. They are charged a flat fee for accessing the network, but it's usually less than $1/transaction...this is the reason that some stores have programed their PIN pad machines to automatically ask you for your PIN number, even if you tell the cashier you want to use the credit network. Wal-Mart is a prime example. Make a purchase, swipe your card, and you have to hit 'cancel' to select 'credit'...the impulse to enter your PIN is what they are counting on to save them some $$. The drawback from the customer side is that many banks charge you a fee to make a purchase using your PIN.

[Erinyes]

The shop in TN that my girlfriend and I picked out to get her first gun actually has three seperate prices on the tag. One for cash/check, one for credit card, and one for layaway. As opposed to my local GA dealer that upcharges for credit cards. Never really bothered me, though. The owner explained why they had to do that and I still frequent that store.

[hwp]

I have the feeling people that get bent out of shape about the 3% upcharge/discount (or whatever you want to call it) do a whole lot of living on credit.

I run credit on about 15 people everyday and the same trends show up over and over.

[Turtle Club]

[QUOTE=waterhouse]
I could mark all of my guns at "credit card price" and then everyone could pay that, whether they used cash or not. This being America and all, I like to give my customers a choice. Most tend to pay with cash or a money order to avoid this fee, and they don't seem to mind doing it. I don't "mark them up" for credit, I offer a discount for paying with cash.[QUOTE]

With the volume of transactions they VISA, MC Ect process everyday it costs them litarly $0.05 to process an indvidual transaction.

They get their money back though the fee, fincance charges to the consumer. Trust me, it does not cost that much on the Credit company;s end to do anything.

Let go though this. The consumer is taxed when they get thier pay check. Then they have to pay sales tax. Then a merchant thinks they can charge 3% for using a credit card. Then pay high interest rates, some pay anual fees...I think a fee for using the credit card is out of the question.

Hey why doesnt the governemnt pay the 3%? Then everyone wins.

Originally Posted by Rezin

I too own a business...
...Hell, you can't even check their ID for credit cards if they are signed (I think that too is stupid) but it's not MY policy.

So you are saying if the credit card is signed, but it says "Mrs. Jane-Marie Smith" but the person presenting the card is obviosly not an adult and male, you still cant check ID. Sounds a bit obsderb to me.

I had my AMEX Card Stolen. Someone charged $14,000 at Best Buy. The charged flat screen tv, suround sound speakers, DVD's, DVD Player, two video game systems.

I have "Check I.D." Written on the back instead of signing it.

The crook was stuipid enough to sign his own name, and he worked at the same strip mall in another store!!

The Loss Prevention survaience had his face on tape. It shows the cashier accepting the credit card. She even flips the card over, (so she saw where it said check id.)

Now when you sign the electronic box, it name as signed shows up on her screen. She even saw the name on the card, she saw "check id", she saw the name signed on the computer and thanked him by his last name.

Well, AMEX is an awsome company. They called me and asked about the charge. I had no idea. Within 2 days, they told me all the info about the tape, ect.

The guy ened up selling all the stuff and the cops never recorvered it. Not only did Best Buyget screwed out of the merchandise, the money but they paid me as well.

Best Buy offered me a arbitration settlement, for not going to court. They offered me under $1,000. I ended up getting $10,000 settlement from a 2day civil trail.

That's why you write check id, because if you write it, they are obligated to check. If they dont they are liable in a civil manner.

[Beren]

Best Buy offered me a arbitration settlement, for not going to court. They offered me under $1,000. I ended up getting $10,000 settlement from a 2day civil trail.

Wow. What was the basis of the case - how were you harmed? (Not contesting whether you were or not; again, I'm curious.)

[rbernie]

My FLG gives me a break on the price of something, and I give 'em a break by paying cash or using debit when I can. Sounds reasonable to me - dunno why everything has to be so confrontational to some people...

I *want* my FLG to be in business five years from now. Failing to understand the interdependant relationship dynamics between buyers and consumers is how so many communities are getting stuck with WallyWorld as their only option...

[Gordon Fink]

Oh, the irony!

~G. Fink