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Old 06-18-2008, 01:46 PM   #21 (permalink)
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Originally Posted by RealtorTommy View Post
Walmart does the 3 cents off if you buy their card inside.......
Walmart is the one that irritates me the most.

Using a debit, and the system defaults to "debit mode". You have hit "cancel" a few times in order for it to switch over to "credit mode".

I remember that Walmart has a massive lawsuit against Visa/Mastercard over the debit/credit issue. They originally refused to process debit cards as credit cards, saying they were going to charge a penalty, or refuse to do them that way.

But Visa countered that they were legally required to be able to process them that way. This is why you can, technically, but they make it extremely difficult to do.

Its all pretty silly anyways.
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Old 06-18-2008, 02:08 PM   #22 (permalink)
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Whats great for me is my card is an old style ATM card from my bank. No Visa or MC logo. I didn't think I could use it like a debit card at retailers but I can, so I have never gotten a debit/credit card. Cash back with no ATM surcharge is great.
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Old 06-18-2008, 03:11 PM   #23 (permalink)
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If not they do it anyways

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I'm fairly certain in Indiana that you can't charge credit customers more simply becaues they use a credit card. My dad runs a funeral home, and tried to do that. yeah it's only 6% or something, but it's 6% of a $3-10,000 transaction. That's a cost that is instead passed on to cash customers because he can't treat anyone differently. how crappy is that?
Many stations in the SB-Mishawaka area do the 5-10 cents off the posted price if you use cash. Which is fine by me since I top off at the end of each night's deliveries.
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Old 06-18-2008, 03:27 PM   #24 (permalink)
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Interesting.

Maybe banks push for "credit" processing, verses "debit" because they think it might produce more negative balances? (Being harder to keep track of purchases). Thus more penalty charges?

I've read that banks typicall get 50% of profits specifically from penalty charges. hmmm
Most retailer contracts work this way:

Debit Card: Flat fee (~.30)
Credit Card: Flat fee + % (~10-30 cents + ~2-3%)

It's in the retailer's interest for you to use cash or debit. It's in the bank's interest for you to use it as a credit card (even if it comes out of a checking account)

And yes, I've started to see independent gas stations here in NJ charge more for Credit. Which I don't really mind IF it's obviously marked on the Pumps. I ended up paying an extra 20 cents a gallon the other day when I was "tricked" by the cash price up on the Huge Sign and a very tiny sign on the pump that showed the credit price....
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Old 06-18-2008, 03:27 PM   #25 (permalink)
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Giant Eagle here does a 10 cents off after every 50 or 100 dollars spent.

Last time we used the built up savings, I filled up an explorer on emapty, and 3 gas cans (for the bikes) with 91 octane, and for under $30.

Took me back to see the cost of regular at that pump go from 3.89 a gallon to .99
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Old 06-18-2008, 03:59 PM   #26 (permalink)
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As for not charging extra for a credit transaction, all the retailer has to do is up the price to cover CC fees and give a "cash discount" and that part of their contract with the CC processer is cicumvented.
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Old 06-18-2008, 04:45 PM   #27 (permalink)
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As for not charging extra for a credit transaction, all the retailer has to do is up the price to cover CC fees and give a "cash discount" and that part of their contract with the CC processer is cicumvented.
You are correct. It was deemed illegal to charge more for credit card customers, so instead they give a "discount" to cash customers which is allowable. The net result is still the same.
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Old 06-18-2008, 05:20 PM   #28 (permalink)
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Even ExxonMobil, the world's largest integrated oil company, is getting out of the retail business. On June 12, the Irving, Tex. company announced it would be selling all of its 2,225 U.S. filling stations and convenience stores
Hey, It looks like that chain e-mail worked after all.
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Old 06-18-2008, 08:55 PM   #29 (permalink)
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Sorry I'm not carrying $80 with me to fill up everytime and my Debit card will cut off at $50 and I have to reswipe...(stupid system they have here) My only option is a CC...So they'll have to deal
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Old 06-19-2008, 03:21 AM   #30 (permalink)
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I buy $500-$700 a week in gas in my work truck. More if I have to buy gas in Socialist Republic of Kalifornia. All charged to a credit card. There is no way I would pay cash. I would miss out on all the Thank You points. Maybe in a year I wll be able to trade them in on a Ipod.
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