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1. Most places don't charge extra for a credit card payment. 2. Most cards have a cash-back arrangement, where you earn credits for what you spend. Together,
by RHSeeger 4y ago
1. Most places don't charge extra for a credit card payment.
2. Most cards have a cash-back arrangement, where you earn credits for what you spend.
Together, that means you're generally not paying anywhere even close to 3%.
- xur17 4y agoThey don't charge extra for credit card payments, but they pay the fee on the majority of their payments, so it's baked into their margin. The cash-back arrangement reduces this by ~1% in effect.
- lxgr 4y ago> The cash-back arrangement reduces this by ~1% in effect. For people with good credit, as the article mentions. It's effectively yet another tax on the poor.
- diffeomorphism 4y agoMost places charge extra for any payment because of the high credit card cost. So you pay the 3% even with cash. Same reason quite a few restaurants have a sign with cash only. Same reason lots of restaurants in Europe had cash, card only for 20€+, no credit card (EC card was <1% fee, credit like 3% so they said no thanks).
- Symbiote 4y agoIn Denmark it's not unusual for company credit cards to be charged extra, and foreign credit cards to be charged even more. (Before 2018, it could also apply to personal credit cards. It seems a step backwards to exempt them, as the national sysetem, Dankort, has much (much!) lower merchant fees, but now there's no incentive for people to prefer it to Visa/MasterCard.) Legoland example: https://servicecenter.legoland.dk/hc/en-us/articles/202589812-Which-payment-cards-do-you-accept- https://servicecenter.legoland.dk/hc/en-us/articles/20258981...