So who misses the penny?

[Smallc]

I get charged 2% per MC or VISA usage. It's not really a big deal. I use my Credit Card at most other retailers.

[Boges]

And those of you that are using those cashback cards at small, independent, locally-owned businesses are screwing the vendor out of roughly 3-5% of his or her profits. I've nothing against those cards if you're going to use them at major retailers, but when everyone starts using them it puts a lot of pressure on small local businesses.

Simple, don't accept CC's then. Don't blame the consumers for utilizing services available to them.

If I really wanted said good or service, I can always use debit.

Edited February 7, 2013 by Boges

[Bonam]

And those of you that are using those cashback cards at small, independent, locally-owned businesses are screwing the vendor out of roughly 3-5% of his or her profits. I've nothing against those cards if you're going to use them at major retailers, but when everyone starts using them it puts a lot of pressure on small local businesses.

Nope, they're not getting screwed. By accepting credit cards, those stores attract more customers. If they feel the trade off isn't worth it, they are free not to accept credit cards.

[TimG]

Nope, they're not getting screwed. By accepting credit cards, those stores attract more customers. If they feel the trade off isn't worth it, they are free not to accept credit cards.

CC provide a service to justify their fees but I object to the rules that prevent a vendor from offering discounts to people who pay cash.

[shortlived]

CC provide a service to justify their fees but I object to the rules that prevent a vendor from offering discounts to people who pay cash.

Or put in a credit card surcharge like some businesses do. Problem solved.

They are tax deducatable business expenses anyway.

Edited February 7, 2013 by shortlived

[Boges]

Or put in a credit card surcharge like some businesses do. Problem solved.

They are tax deducatable business expenses anyway.

A CC surcharge would never work. No one would ever use them. I'd rather just use my debit. You get 2% cashback or some other reward but you have to pay a 2% surcharge. If I was a CC company I probably wouldn't want to be associated with such a company. I have seen companies that offer incentives to use cash, but that's different.

[msj]

They are tax deducatable business expenses anyway.

I have many small business clients where every year we discuss the CC/DC fees they pay as those fees grow exponentially.

To say, hey, I know this shows up as a $12,000 expense but after tax savings of $1,620 (13.5% corporate tax rate in BC) it is really only costing you $10,380, does not really make them feel any better.