Convenience Fee

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skyhightree1

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Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.
 

M-5

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skyhightree1":10bi8ngz said:
Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.

so the company should be responsible for the 2.5% that the CC company charges them to process your card????
 

dun

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M-5":7tufzyvb said:
skyhightree1":7tufzyvb said:
Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.

so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business
 

M-5

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I have customers that act just like you so I just raise their price by 4% and they feel warm and fuzzy.

how do you think these CC companys can afford to offer miles and rebates. The retailers are paying for it. Its not going to change anytime soon and you will start seeing it more often or you will notice a higher price on goods and services to cover the fee.
 

M-5

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dun":gsg6cwyh said:
M-5":gsg6cwyh said:
skyhightree1":gsg6cwyh said:
Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.

so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

The vendor and supply business does not operate like a retail establishment. When you sell off of quotes and bids you price the jobs to at fair market value. That is cash price and when the job is sold you expect payment in cash or check and they whoop out a CC to pay for 50k of material and your bottom line just took a 1250$ hit. Retail stores are make 40% + on people so they can eat 2.5 %
 

Cross-7

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We give a 2% cash/check discount if paid by due date.
Credit card transactions do not get the 2% discount.
So it takes care of the CC fee and an insensitive to pay on time.
 
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skyhightree1

skyhightree1

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dun":3ayk5qb4 said:
M-5":3ayk5qb4 said:
skyhightree1":3ayk5qb4 said:
Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.

so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

I agree..

M-5":3ayk5qb4 said:
I have customers that act just like you so I just raise their price by 4% and they feel warm and fuzzy.

how do you think these CC companys can afford to offer miles and rebates. The retailers are paying for it. Its not going to change anytime soon and you will start seeing it more often or you will notice a higher price on goods and services to cover the fee.

I would rather you have done that then come up at the end and say by the way im charging you a convenience fee a end charge of a convenience fee tacked on is like a instant punishment for doing business with you... It reminds me of a buyers premium at auctions ... I stay away from those too..
 

Nesikep

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When there's a buyers fee at an auction (usually 20%), I cut my bid by 1/3rd.. an item I"d pay $100 for I'd now go to $70 or so since there are taxes on the buyers fees!

I do think the way Cross7 does it is good, a discount for cash/cheque if paid on time
 

M-5

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skyhightree1":1qh4v33f said:
dun":1qh4v33f said:
M-5":1qh4v33f said:
so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

I agree..

M-5":1qh4v33f said:
I have customers that act just like you so I just raise their price by 4% and they feel warm and fuzzy.

how do you think these CC companys can afford to offer miles and rebates. The retailers are paying for it. Its not going to change anytime soon and you will start seeing it more often or you will notice a higher price on goods and services to cover the fee.

I would rather you have done that then come up at the end and say by the way im charging you a convenience fee a end charge of a convenience fee tacked on is like a instant punishment for doing business with you... It reminds me of a buyers premium at auctions ... I stay away from those too..
Dont go to DMV or any permit or courthouse office they charge about 4%
 

Cross-7

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Nesikep":3bzl2byq said:
When there's a buyers fee at an auction (usually 20%), I cut my bid by 1/3rd.. an item I"d pay $100 for I'd now go to $70 or so since there are taxes on the buyers fees!

I do think the way Cross7 does it is good, a discount for cash/cheque if paid on time


Only problem I've run into is on large quotes 2% can be quite a bit.
My competitors quote bottom dollar and I quote with a 2% discount
The math is simple enough but people are people and don't always factor in the 2%
Either that or they know they aren't going to pay in 30 days
 
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skyhightree1

skyhightree1

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M-5":25ppu7bd said:
skyhightree1":25ppu7bd said:
dun":25ppu7bd said:
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

I agree..

M-5":25ppu7bd said:
I have customers that act just like you so I just raise their price by 4% and they feel warm and fuzzy.

how do you think these CC companys can afford to offer miles and rebates. The retailers are paying for it. Its not going to change anytime soon and you will start seeing it more often or you will notice a higher price on goods and services to cover the fee.

I would rather you have done that then come up at the end and say by the way im charging you a convenience fee a end charge of a convenience fee tacked on is like a instant punishment for doing business with you... It reminds me of a buyers premium at auctions ... I stay away from those too..
Dont go to DMV or any permit or courthouse office they charge about 4%

I carry cash there its only a matter of time probably before they start adding a fee on that.
 

callmefence

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We quit accepting credit cards because of this very reason. With our average invoice running about 4000.00 the 2.5 to 3 percent the cc company charged us was just to much a hit. If I know you or know of your reputation I'll finance the work myself. When I buy from someone who charges the fee I understand why. And just pay another way.
 

Dave

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There is a small bakery over in the Okanogan area that has a sign over their cash register requesting people pay with cash or check. It states that the fees they paid for CC last year were something like $24,000. Big hit for a small 2 person business.
 

callmefence

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dun":25an0m2z said:
M-5":25an0m2z said:
skyhightree1":25an0m2z said:
Is it just me that gets instantly pizzed off when a company decides to start charging a " Convenience Fee " when you pay with a debit card or credit card. I will switch vendors if they do that because seems to me you don't want to deal with my money or business.

so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

So A business should just automatically charge everyone 4 percent more to cover the cost of those who use credit. That sounds like a helluva deal. Maybe that's what I should do.
 

greybeard

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That's what gas stations do--there's a cash price and a credit price and people think the cash price is 4-5ȼ lower per gallon. It's not. That's the regular price--the cc user gets charged more is all it is.
 

Jogeephus

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greybeard":1ksq9eke said:
That's what gas stations do--there's a cash price and a credit price and people think the cash price is 4-5ȼ lower per gallon. It's not. That's the regular price--the cc user gets charged more is all it is.

That's how my hardware store does it. Sign right there by the register. The choice is yours.
 

dun

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callmefence":3djegkjs said:
dun":3djegkjs said:
M-5":3djegkjs said:
so the company should be responsible for the 2.5% that the CC company charges them to process your card????
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

So A business should just automatically charge everyone 4 percent more to cover the cost of those who use credit. That sounds like a helluva deal. Maybe that's what I should do.
No, what they do is raise the price on everything b about 1/2 of 1%. But it also depends on the profit margin for the business.
 

callmefence

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dun":2ubutb41 said:
callmefence":2ubutb41 said:
dun":2ubutb41 said:
If they are too stupid to not have already jacked up their regular price to cover that fee they shouldn;t be in business

So A business should just automatically charge everyone 4 percent more to cover the cost of those who use credit. That sounds like a helluva deal. Maybe that's what I should do.
No, what they do is raise the price on everything b about 1/2 of 1%. But it also depends on the profit margin for the business.

So spread the expense between the cash customer, the credit customer and the business owner. And give it to the credit company. :bs:
By charging the credit customer the expense they are causing, you give incentive to pay cash. And the credit company to lower it's fee to the merchant and make it's money of interest, as it should be.
 

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