Talk of The Villages Florida - View Single Post - Credit card fee
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Old 09-04-2022, 01:58 PM
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Quote:
Originally Posted by The Mountaineer View Post
Common practice for businesses all over America. Credit card company tacks on the 3.+% fee to transactions. Rather than absorb it, businesses tack on the transaction fee. Other businesses don't but simply charge you that much more for your food so that YOU and not them pay for YOUR credit card fee!
It's not "your" credit card fee. It's the fee the credit card charges the merchant. The merchant can absorb it, pass it on, or build it into their price structure---all have their pros and cons. YOU can choose to use cash, or YOU can choose merchants who don't blatantly pass it on (but you won't know if it was already built into their price structure. Most fees are under 3%, some are higher. There are also laws governing these transactions as well as agreements between the merchant and the bank. Most of these appear to be poorly enforced, at best. Also, I'm not so sure how "common" it is---prior to the pandemic I rarely saw the fee added except at gas stations.