Originally Posted by Rodnok1 (Post 1992488)

Credit card fees cost businesses alot of money... American express is the highest IIRC.

Originally Posted by FLEXjs (Post 1992513)

It's been common here in Canada for certain venues to not accept credit cards or to add fees for their usage.

I remember for many many years Costco and Grocery Stores would not accept credit cards. They finally do now but I am guessing they must have some special arrangement where they pay lower fees than restaurants, retail, and other higher margin businesses.

Most convenience stores here will not accept credit cards and will even add a nominal amount for debit cards for sales under a certain value.

Years ago we bought all new appliances and I really beat them up on price and got a good deal, provided we paid cash. We paid 80% in store cash (debit) and I held back 20% until delivery. We had no choice but to pay that balance on delivery via credit card so we had to add back 2.5% on the 20% balance.

There's nothing forcing any business to accept credit cards. They usually do because it means more sales, but they sacrifice 2-3% profit. For some businesses, like grocery stores, that 3% can be a significant amount of their net profit.

As long as they are up front about their policies I see nothing wrong with it.

Cash is King.

Originally Posted by FLEXjs (Post 1992513)

There's nothing forcing any business to accept credit cards. They usually do because it means more sales, but they sacrifice 2-3% profit.

Originally Posted by dvarapala (Post 1992607)

I always pay with a credit card, pay it off in full every month, and collect all the cash back rewards. :yesnod:

Originally Posted by dvarapala (Post 1992607)

Actually they simply jack up all their prices by 3% to cover the processing fees, In effect the people who pay cash are subsidizing the people who use credit cards. This is why I always pay with a credit card, pay it off in full every month, and collect all the cash back rewards. :yesnod:

Originally Posted by 99 pewtercoupe (Post 1992648)

This. About the only thing I use cash for is tips to Porter and various service workers where the tip is usually just a couple of bucks

Originally Posted by Stangkiller (Post 1992512)

At this point cash may be more expensive for a business to receive. It’s more likely to be stolen/lost, then has to be deposited to the bank in order to make any bill payments.

Originally Posted by StorytellerStealth (Post 1992778)

The last few years have seen several businesses that do not accept cash credit or debit cards only. Mostly in food coffee shop type businesses cuts out employee cash theft.

Originally Posted by 04 commemorative (Post 1992782)

:confused5:

Originally Posted by StorytellerStealth (Post 1992778)

The last few years have seen several businesses that do not accept cash credit or debit cards only. Mostly in food coffee shop type businesses cuts out employee cash theft.

Originally Posted by Frankie the Fink (Post 1992755)

With 87,000 new IRS agents and this adminstration wanting to track every $600 transaction I think cash will be around for a LONG time...