Yesterday, we told you how Visa and AMEX now allow merchants to require customers up to a $10 minimum for credit card payments and how MasterCard will soon be changing their policy to allow for the same. We'd naively hoped that Discover -- who hadn't yet replied to our query -- would be the lone holdout, but... not so much.
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? This has been going on for awhile with credit cards. The fees are chewing up small business profits (gas stations, corner stores). Go get some cash why dont ya
ReplyDeleteDo you really think the ones who put every item they buy on a credit card and make minimum monthly payments will stop charging?
ReplyDeleteThe store has to pay the credit card company in order to let customers charge. Therefore I cannot blame a store for charging a customer a fee for charging under $10. They probably should make it $25. A customer can write a check for the less than $10 charge or better yet, pay cash.
When a successful society is based on credit, the cliff is always in site.
ReplyDeleteI have 2 credit cards. On Visa and one Mastercard which are only used for emergencies or vacation (to keep from carrying so much cash).
ReplyDeleteIf you're buying something for less than $10.00 and you don't have the CASH, maybe, just maybe you don't need that item anyway!
I could not imagine charging something so small on my credit card!
But maybe that's why I'm not in credit card debt to my eyeballs.
I RARELY carry a balance over to the next month on my card.
If more people did this, we'd all be better off!