Dollar minimums for credit card.

R3DS!X

R3DS!X

Whatever that means
Went to go get lunch today at a local place and the total was $9 but when I pulled out my card they pointed to the sign that said $10 minimum for card.
What magic happens in the system after the $10 mark?
Is it really worth them loosing a sale?
Is it their fault for having a shitty POS system?
I hate carrying cash.
 
DynastySS

DynastySS

So slow it's criminal
R3DS!X said:
Went to go get lunch today at a local place and the total was $9 but when I pulled out my card they pointed to the sign that said $10 minimum for card.
What magic happens in the system after the $10 mark?
Is it really worth them loosing a sale?
Is it their fault for having a shitty POS system?
I hate carrying cash.
Click to expand...

They don't want to pay processing fees on small charges. There is probably a minimum charge they have to pay per swipe.
 
Killroy1999

Killroy1999

Well-known member
I thought that the mutant gets charged 2-3% to use credit. That is lot of what they do. It sucks.

On the filp side, it sounds like they are trying to up sale you to $10 because the minimum is usually $5.
 
AbsolutEnduser

AbsolutEnduser

Throttle Pusher
R3DS!X said:
Went to go get lunch today at a local place and the total was $9 but when I pulled out my card they pointed to the sign that said $10 minimum for card.
What magic happens in the system after the $10 mark?
Is it really worth them loosing a sale?
Is it their fault for having a shitty POS system?
I hate carrying cash.
Click to expand...

they may have a fixed charge per card


so if you are under 10, their profit is too low. And they "loose"


YMMV
 
rodr

rodr

Well-known member
Merchants are charged a fee per transaction (30 cents or so) plus a percentage (commonly 1.5% or more). It adds up.

Down here in Oz it's common for them to charge a bit more for credit cards and everyone understands. It's also a lot easier to pay for things with direct bank transfers which have no fee.
 
bikewanker

bikewanker

Well-known member
DynastySS said:
They don't want to pay processing fees on small charges. There is probably a minimum charge they have to pay per swipe.
Click to expand...

I thought we wanted to stick it to the man? Oh sorry only if it’s convenient.:twofinger
I’m guessing that 3% is significant to a small restaurant so I support them, especially these days.
 
R3DS!X

R3DS!X

Whatever that means
I don't get why they wouldn't raise their prices a little to compensate. cards are the most common way to pay now a days.
 
N

N4teTheGreat

Noob!
Seems like a weird way to handle it. In SF I used to carry cash but stopped during the pandemic. Plenty of corner bodegas will note that they add a small fee for card purchases or less than X amount which I don't mind paying. Seems like a better policy than losing a sale.
 
AbsolutEnduser

AbsolutEnduser

Throttle Pusher
R3DS!X said:
I don't get why they wouldn't raise their prices a little to compensate. cards are the most common way to pay now a days.
Click to expand...

Cuz giving money to an invisible middle man is the best. I do it all the time, like higher prices and enjoy paying more while getting rebates.
 
Alan_Hepburn

Alan_Hepburn

Well-known member
scootergmc said:
They can do what they want, and yes, businesses in CA can charge more for CC.
Click to expand...

For an example just look to the DMV - if you want to pay your registration using a credit card you get to pay the fee that the financial company charges for the transaction.
 
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