I like my rewards Visa more than I like Kroger. Good luck with that ban, guys.
I wish credit card fees would come down, they're ridiculously high and increase the price of doing business, which increases the prices you pay for items.
Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
81–90 of 389 posts
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#82Earlier quoted context omitted.
There are a bunch of different sites, but I have used this one: https://www.pay1040.com/
Oh wow, so I have to give them my name, address, phone, and SSN just to process a credit card payment? That's not worth it...
... How else would the IRS know how to credit your payment without that information?
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#83Earlier quoted context omitted.
Oh wow, so I have to give them my name, address, phone, and SSN just to process a credit card payment? That's not worth it...
... How else would the IRS know how to credit your payment without that information?
The sibling comment asked the same question 2 hours ago. See my reply there.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#84Earlier quoted context omitted.
That hotel is still doing cash accounting though. If there isn't much at the front desk, how about the bar? The restaurant? A business that has any type of daily cash accounting is still going to need to balance the register at the end of the day, reestablish change to open with, have arrangements for transport, &c. Bad employees can still pocket a tenner on occasion. Sure, some smaller places with barely any cash pr…
> That hotel is still doing cash accounting though. If there isn't much at the front desk, how about the bar? The restaurant? Many hotels have neither of these.
Do not know where you are staying but I have not seen a hotel without a bar in a very long time. That is if the hotel is chain hotel (not motel).
To the original point, if I am staying in the hotel and I go to the bar I would just sign to the room and not pay cash.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#85I like my rewards Visa more than I like Kroger. Good luck with that ban, guys.
I wish credit card fees would come down, they're ridiculously high and increase the price of doing business, which increases the prices you pay for items.
Most people that care get a substantial portion of those fees back (either as cash or rewards). So in reality, those fees are a tax on the poor, the un-creditworthy, and the financially illiterate.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#86In Denmark we have a national payment system called Dankort. All issued Visa cards also work as Dankort. Transaction fees on Dankort is one tenth of visa, and all payment terminals default to Dankort. This saves Danish retail a lot of money while still ensuring they we can buy stuff online and when traveling using visa.
To be clear that’s due to laws in Denmark that require its acceptance and granting it a particular monopoly status?
I’d be curious what the issue rate between the Dankort & the Kroger Plus Card. It’s conceivable that Kroger has the market heft to do with selling power what Denmark did with law.
As context Kroger employees about the same number of people as 1/10th of Denmark though I have no idea how that translates to ability to change card usage.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#87Earlier quoted context omitted.
Your SSN is essentially your Tax ID number, so I'm not sure how else you would expect them to pay your taxes on your behalf.
Well I kind of hoped I could pay IRS directly rather than through a middleman, or get a clear, no-loophole guarantee of some sort that they would do nothing with my SSN other than transmit it to the IRS. (Or through TurboTax, which I've unfortunately already used anyway, meaning they already have my info.)
The IRS doesn't accept credit card payments. That's why it's farmed out to third-party companies like the one I linked to.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#88Earlier quoted context omitted.
At least those "$5.00 or $20.00 minimum for credit cards" signs that you see often in coffee places and bars will go away. They are probably illegal (or against contracts) in most states, but you see them very often.
> They are probably illegal (or against contracts) in most states, but you see them very often. Minimum purchase requirements for credit cards were explicitly legalized in the US in 2010 as part of Dodd-Frank. Merchant agreements are not legally allowed to prohibit them.
Thanks for share this. It is news to me as that used to be prohibited by the CC.
"2010 law: up to $10 minimum OK. The law says that merchants can set a credit card minimum purchase of up to $10, as long as they treat all cards the same. It also allows the Federal Reserve to review and increase the minimum payment amount."
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#89Earlier quoted context omitted.
I wish credit card fees would come down, they're ridiculously high and increase the price of doing business, which increases the prices you pay for items.
Most people that care get a substantial portion of those fees back (either as cash or rewards). So in reality, those fees are a tax on the poor, the un-creditworthy, and the financially illiterate.
I assume they meant merchant fees.
Re: Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban
#90Earlier quoted context omitted.
So you hate getting something back for choosing one payment method over another when there's no indication that retail stores would lower their prices if credit cards (and their transaction fees) were wiped out?
There is some indication of that - gas stations have seemed to be leading the push here, with "cash-only" prices, but you'll also see places with CC fees or minimums (as much as the providers try to crack down on this).
This goes through cycles every few years. We seem to be in the cash discount part of the cycle now. Then stations discover they don't like losing customers who want to pay by credit but are getting "ripped off." Admittedly apps may make things different this go-round.