F'ing BP credit card surcharge

[XRVrider]

If you want to use your credit card, you will pay somewhere for the privilege, why should the business you shop at pay for your choice of payment method. They get charged it and are now legally passing it on to those with the choice. If you dont like this then its still very simple, just use eftpos or cash. There are now Q cards, Farmers cards, Farmlands cards... and a heap of others... they are only in existence because they make money off you, this new law has just highlighted it.

[McJim]

Speaking from experience this has been badly managed by the retailers. They should have raised ALL of their prices then offered a discount for Cash and Eftpos users. It's exactly the same thing but from this perspective it's fair. I don't use a credit card so why the fuck should I have to stump up extra cash to pay for all the borrowers that cannot manage their own cash flow? Major credit cards in New Zealand charge an annual user fee. Go to UK or US and you will not find this user fee anywhere. Major credit card issuers charge exorbitant interest from their cardholders. It has been a bit of a duopoly in the past which has allowed these companies to overcharge both sets of users (retailers and cardholders). About time the playing field was levelled. But what would I know? I'm only a qualified credit professional from the UK so don't take my word for it.

[sefer]

You seem to be under the belief that these place do not get charged a similar fee for both cash handling and eftpos transactions, which they pass on through their products exactly the same way as they pass on the credit card charges. Add to that the retailers convenience of not having to have handle, store, and transport large amounts of cash.

My point still stands, given that the credit card fees have dropped, and will do so further, and they are now pass the fee onto the customer anyway, did you see a single price decrease to account for the companies no longer footing this fee?

[XRVrider]

My point still stands, given that the credit card fees have dropped, and will do so further, and they are now pass the fee onto the customer anyway, did you see a single price decrease to account for the companies no longer footing this fee?

Um why should they drop their prices, they were always charging the same, just now they dont have to give some away. Seems only fair to the seller to get the price they asked for, not a bit less got you popped the credit card onto the counter.

[sAsLEX]

I don't use a credit card so why the fuck should I have to stump up extra cash to pay for all the borrowers that cannot manage their own cash flow? .

Utilising the interest free period that credit card companies offer and leaving your cash in an interest earning account then paying the credit card bill before it accrues interest charges is actually a recommended cash flow management technique.

http://www.consumer.org.nz/reports/b...volving-credit

[sefer]

Um why should they drop their prices, they were always charging the same, just now they dont have to give some away. Seems only fair to the seller to get the price they asked for, not a bit less got you popped the credit card onto the counter.

Please, surely you don't actually believe that they have just been "giving away" their credit card fees. Any company that did would be a very badly managed one. All costs, whether they are staff, bank, power, product, or bank fees are build into product cost, that's how retail works.

[JimO]

Please, surely you don't actually believe that they have just been "giving away" their credit card fees. Any company that did would be a very badly managed one. All costs, whether they are staff, bank, power, product, or bank fees are build into product cost, that's how retail works.

same with supermarkets charging for the previously "free" plastic bags.....free my arse

[newbould]

same with supermarkets charging for the previously "free" plastic bags.....free my arse

Before or after we free Tibet?


Where have the smilies gone when you reply with quote???????

[XRVrider]

Please, surely you don't actually believe that they have just been "giving away" their credit card fees. Any company that did would be a very badly managed one. All costs, whether they are staff, bank, power, product, or bank fees are build into product cost, that's how retail works.

Not all. Ring up a travel agent and ask them. They always add it later, whether House of Travel, Flightcentre, United. They all do it, and it can be very large sums of money where the fees mean hundreds and they would actually lose money beacause of tiny margins of profit... not good for business. (1 or 2 special circumstances where they get the airline to wear it)

[mazz1972]

User pays, fair enough I guess, as annoying as it is. It's been happening in some other countries for years.

But it's only fair if retailers adjust prices accordingly by lowering them, even if it is only by a sniff. Otherwise the add on charge for credit card users is just another income stream.

[breakaway]

Okay I just read this thread, and apparently its "just been made legal" for the retailers to charge this extra?

This sort of credit card surcharge has been standard practice most computer parts shops throughout New Zealand. There was a time when almost all shops charged 3% extra on top of your total order amount as a 'convenience fee' for credit cards. However, they soon realised that they were losing out business to stores who weren't greedy for the 3% and decided to knock off the surcharge.

Whole 'surcharge' business is dodgy as fuck if you ask me.

[imdying]

I'll just go back to buying my gas in multiples of $20 notes (as that's what the hole in wall spits out), which means no more buying the extras (Red Bull, pies.. the things they make their proper profit on) that I do on my credit card. So good luck with that petrol stations.

[Blackflagged]

If you sold your motorbike, for say $6000.
And the buyer wanted to pay by paypal.
You the seller would wear the 3% $180 fee?
Or the $5900 cash offer.

[sefer]

I'll just go back to buying my gas in multiples of $20 notes (as that's what the hole in wall spits out), which means no more buying the extras (Red Bull, pies.. the things they make their proper profit on) that I do on my credit card. So good luck with that petrol stations.

I'd suggest everyone does this. Not only are they going to lose income on those extras, but their costs are likely to actually increase due to the extra money transportation and handling fees. They really aren't thinking ahead here for both the above reasons, and also the extra issues with having even larger amounts of money, both in safe and in register (got to make up change as well as what's taken in).

Actually if any of my local gas stations start doing it, and I can't avoid them I might just start finding large amounts of loose change I need to get rid of.

[Usarka]

About time i ditched the fucking credit card anyway. Too easy to spend money - just put it on the card.

No money, no banana thickshake or happy finish from the homeless bum around the corner unless I kick him in the balls and steal his tin cup full of coins and run like a bastard.