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If you are old like me you remember when stores had minimum purchase limits for credit cards, and some places (esp. gas stations) would charge different prices
by Finnucane 7y ago
If you are old like me you remember when stores had minimum purchase limits for credit cards, and some places (esp. gas stations) would charge different prices for cash or credit. The credit card issuers have strongarmed the retailers to curb those practices, so the only rational response for a service that would be entirely dependent on them would be to have a minimum for everything.
- senordevnyc 7y agoThis is still very common in NYC. Most small restaurants and retailers here have credit card minimums, typically $5-10.
- bitwize 7y agoI still see minimum credit purchase signs, especially in restaurants, cafés, and the like. Generally, they're small -- like $5 or $10 -- making purchase of all but the most trivial of items exceed the limit, but they're technically there.
- scarface74 7y agoLaws have been passed in some places where the credit card companies are not allowed to ban minimum prices or different prices for cash.
- thaeli 7y agoThis is no longer a violation of the merchant agreement. The card brands used to ban minimums, but now merchants are allowed to require a minimum payment for credit. Too many cash-based businesses who just would not bother with a credit card machine at all if they weren't allowed to stay cash-only for small transactions, and the card brands want to be in as many storefronts as possible.
- antod 7y agoIn NZ, those minimums and surcharges are coming back and relatively common. Retailers are getting vocal about the "evils" of credit cards companies too.
- bacon_waffle 7y agoAnd many places simply don't accept credit card payments. I find it interesting, because EFTPOS (like a debit card in the US) seems to be far-and-away the most popular way to pay for small items and is accepted virtually everywhere.