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Credit Card Companies, Scumbags

Discussion in 'Picture Framing Business Issues' started by UzZx32QU, Jul 23, 2008.

  1. nikfrz

    nikfrz SGF, Supreme Grumble Framer

    In my case, a man came in with a large framing order for his large home. At time of down payment, I was presented with a corp. card. I knew that the fees would be higher, but was blindsided when I got my statement at 5%. The fee was a combination of my regular discount rate, plus the corp. fee. Yes, the interchange fees are charged to the cc processor, but they are passed on to us merchants. If there are any out there that dont pass these fees on, I want to know about them.
     
  2. MarkyW

    MarkyW SGF, Supreme Grumble Framer

    This is a little off the exact topic, but...What gets me is when I hear or read where you can pay your taxes with a credit card. (BTW, I don't) It's not the government processing the charge, they contracted with some third party company. And they tell you that there will be a 2 or 3% convenience fee. Hold on. I don't think you or I can do that. We can't charge a different price for credit than cash. How come they can do that? :fire:
     
  3. Doug Gemmell

    Doug Gemmell SGF, Supreme Grumble Framer

    Silver Lining

    A small silver lining to the bad economy and nefarious CC practices is that we are seeing more people using their debit cards. Way lower fees for us.

    When paying, customers often ask how we would prefer to be paid. My order of preference is cash, debit, check, credit.
     
  4. nikfrz

    nikfrz SGF, Supreme Grumble Framer

    I, as well, are seeing more debit cards now. However, many of my customers that use them, want them run as credit rather than debit. Therefore, I am charged my usual discount fee. Also, many debit cards now are rewards cards. Seems that the banks have every angle covered to suck the blood out of all of us.
     
  5. JRB

    JRB PFG, Picture Framing God

    Your government only exists to help you and make your life much better than it would be without your governments help and input. I do hope you understand that all these taxes you pay are carefully spent so that you and your family will live much better lives. Sure there are double standards such as this fee you are referring to, but at least you know in your heart, that every penny will be carefully spent for your benefit.

    For you to be suggesting that your government would be giving preferential treatment to these large credit card processing companies, over the well being of American citizens is just plain ludicrous.

    Now go and hang your head in shame.

    John
     
  6. Jerry Ervin

    Jerry Ervin PFG, Picture Framing God

    John

    That entire statement should have been in green text.
     
  7. wpfay

    wpfay Angry Badger

    It is not the government that is charging the 2-3% service fee...it is the subcontracted clearing house. The government gets the same amount regardless of how you pay. The clearing house gets to keep the difference in what they collect and what they have to pay to the credit card companies. It is legal because it is a 3rd party providing an additional service.
    I know that doesn't amount to squat to the peson paying the taxes, but, if you are paying with a rewards card you get the benefit, and if you are paying with a non-rewards card, you know the cost up front. If you agree to the terms and pay with your card for the convenience, you have no room to complain about the cost.
    As for what the fedral gummint does with those taxes...that's a whole nuther thread.
     
  8. Pat Murphey

    Pat Murphey SPFG, Supreme Picture Framing God

    I can do all of my tax transactions in NJ, business and personal, with EFT at no cost. I can even schedule automatic estimated tax payments. The Feds should get their act together.
     
  9. JFeig

    JFeig SGF, Supreme Grumble Framer

  10. Pat Murphey

    Pat Murphey SPFG, Supreme Picture Framing God

    Thanks - It isn't mentioned in Turbo Tax as an option - my bad.
     
  11. realhotglass

    realhotglass MGF, Master Grumble Framer

    This makes me want to ask . . .

    Do US businesses do a lot of EFT (electronic funds transfers) for payments ?
    That's my preferred payment method, and many framers and other clients pay me this way now here in Oz.

    All I do is put my bank bsb and account number on the back of my invoices.

    I pay 95% of my suppliers in the same way.

    We also have Billpay, a different sort of electronic online system, but it has similar (although smaller) fees as merchant cc facilities to the recipient.
     
  12. Bill Henry-

    Bill Henry- SPFG, Supreme Picture Framing God

    Yes, especially utility companies like gas and electricity, but others like banks and credit card leaches are pushing fairly hard, too. Most extoll the virtues of automatic payments – easy, fast, convenient, etc.

    I’ve resisted mainly ‘cause I’m old fashioned, but don’t like the idea of “them” grabbing my money without a say, and sometimes cash flow is such that automatic payments would catch me high and dry.

    So, I still pay by check mostly.
     
  13. 2400

    2400 CGF II, Certified Grumble Framer Level 2

    I have never met a "nice" credit card company.
     
  14. jsuth

    jsuth CGF II, Certified Grumble Framer Level 2

    Here in New Jersey we have an attractive alternative to the credit card companies. It's called the mafia.
     
  15. Paul N

    Paul N In Corner

    Hey hey!! You cannot just lump those 2 together!

    One of them has honesty, integrity, you can rely on them and they keep their word.

    Which cannot be said of the credit card companies....:p
     
  16. Mike Labbe

    Mike Labbe Member, Former moderator team volunteer

    [​IMG]
     
  17. Framar

    Framar SPFG, Supreme Picture Framing God

    Good one, Mike - just shoot me now, TYVM....

    (At least I have resisted the cards with kittens on them!)
     
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