Credit Card surcharges in America could be coming to Canada

[Old Yeller]

Like others have echo'd, if this comes to pass, I'll be cancelling all my rewards credit cards and just going back to debit.

My credit card will go from being my primary form of payment to a "use only in emergencies".

[_Q_]

Assuming 50% of transactions are either debit or cash, seriously, how difficult is it for a retailer to advertise "No Credit Card Surcharges!" and then go right around and increase the cost of everything by 2%. Likewise, if this bill doesn't pass in Ottawa, how difficult is it for retailers to just say everything increases by 2% without advertising the increase in price.

[yads]

Retailers will likely either eat the fee or offer a cash discount. As someone said, tacking on fees is going to create consumer animosity.

[Finny61]

Well if debit and credit is going to milk the consumer (on top of regular bank fees which is another argument), I guess the next best option is buy a safe and start paying with cash.

[Canehdianman]

Originally Posted by Daradon

Getting back at poor people hmmm?

Ouch.

Ouch indeed, I pay a lot of taxes every year.

[Daradon]

Originally Posted by Canehdianman

Ouch indeed, I pay a lot of taxes every year.

Yeah that's probably a lot worse than living in poverty. Or with a disability that prevents you from being in the top tax bracket, or...

Whatevs

[You Need a Thneed]

Places like MEC have always given a cash discount.

[Jacks]

[ ] 4% Surcharge for paying with credit card.
[ ] Mark up all prices by 4% and then give 4% discount if you pay by cash/debit.
[x] These two things are the same.

[GGG]

Originally Posted by Jacks

[ ] 4% Surcharge for paying with credit card.
[ ] Mark up all prices by 4% and then give 4% discount if you pay by cash/debit.
[x] These two things are the same.

But the second one is more awsome because I get a deal

[GP_Matt]

Originally Posted by fotze

The retailer pays a different fee to the bank depending on the card? Not American Express vs Visa, but between different types of Visa cards.

It is a weird system, but that is how I understand it.

Until they change it I will continue to collect my 2% cash back. Nothing beats making big purchases for work and getting reimbursed plus points.

[darklord700]

The retailers benefited a lot from the irresponsible spending attributable to using credit card. I don't think they should complaint about fees.

[sclitheroe]

Originally Posted by CaramonLS

But yeah, these Credit card fees take a major bite out of retailers.

I dunno, I'm inclined to think that many retailers are grateful for the record levels of consumer debt the banks have facilitated Canadians piling on. I have no doubt it helped the retail sector with the rough economy the last bunch of years.

[Wormius]

Originally Posted by Bring_Back_Shantz

Yeah, but my two options are as follows:

1) Don't use my credit card and pay $100
2) Use my credit card, pay $100, pay off my credit card every 2 weeks, and get my travel reward points which really do add up over the year

Guess which one I'll choose?

Wait... Why do you pay off your credit card every 2 weeks?

[spetch]

Originally Posted by fotze

The retailer pays a different fee to the bank depending on the card? Not American Express vs Visa, but between different types of Visa cards.

Yes we (retailers) pay more for premium (RBC Infinite Avion, etc) than regular (RBC classic, etc). We also pay more based on the type of card (Amex, MC, Visa etc) based on the rate negotiated.

[wittynickname]

Originally Posted by Daradon

Yeah that's probably a lot worse than living in poverty. Or with a disability that prevents you from being in the top tax bracket, or...

Whatevs

Yep, damn those poor people who use credit cards when their car breaks down and it needs $2000 of repairs who then have to pay the $2000+interest just so they can manage to get to and from work every day safely.

[sclitheroe]

Originally Posted by Wormius

Wait... Why do you pay off your credit card every 2 weeks?

Payday

[DownInFlames]

I was going to say allowance day.

[Wormius]

Originally Posted by sclitheroe

Payday

I still don't understand. Are there credit cards that have to be paid off every 2 weeks instead of each month?

[Brannigans Law]

Originally Posted by Wormius

I still don't understand. Are there credit cards that have to be paid off every 2 weeks instead of each month?

No but I pay mine off every 2 weeks too. It lets me track my spending on a pay period to pay period basis. I guess I don't have to but... I prefer to.

[Canada 02]

new credit card fees? Could be worse. You could have cancer