Quote:
Originally Posted by KevinC
I think this is a shitty policy. Yes, there is a cost associated with credit card payments. But rather than slap a fee on the customer (which at 3% is higher than what they're paying, assuming they didn't choose some hideously overpriced provider), so they're not only sticking you for their overhead, but making further profit. IMHO What they SHOULD do is just price their products/services accordingly and not charge anything extra. If I were about to pay a $2k service department charge there's NFW I'm eating a $60 "fee" on top of that - I'd go to the local bank and get $2k in SINGLES and pay them that way, just to make a statement. You know who doesn't slap a fee on me? My coffee shop. He has to bake it into his cost. Customers would absolutely revolt at a fee like this. And he's taking in exponentially less cash.
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That's the thing, though: they
were building this into their pricing – they'd have been crazy not to all these years. It's just that now someone got the "bright" idea to keep the prices where they are (and raise them), but pass that 3% onto their customers assuming they'd just swallow it. Which it seems they are – I mean hell, we've got people
defending the practice. Great way to instantly grow your margins with approximately zero effort.
Again, if retailers don't like the fee the answer is simple: don't accept credit cards. Problem solved. Except, of course, that they may not enjoy the consequences and find out that that 3% fee wasn't so bad after all.