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Sellers Why 3% for CC?

D@D
Why charge an extra 3% or more when using a credit card, is it cause the CC companys do?
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Comments

8 comments

Date Votes
  • dkb2003
    Yes it is and im not a dealer...That is why they say cash price. That 3% to them will kill a deal and they make nothing
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  • AZEX
    A good dealer will get a merch svcs co that lets them swipe your debit card and key in your pin on their machine.

    Usually, the total fees are less than a dollar for these types of transactions.

    Debit, Same as Cash. I have this sign up at my tables when I'm at a gunshow.

    D.
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  • D@D
    quote:dkb2003
    Posted - 01/27/2008 : 2:46:19 PM

    Yes it is and im not a dealer...That is why they say cash price. That 3% to them will kill a deal and they make nothing

    I wont bid if they charge for CC use.
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  • Spider7115
    A smart seller would base his selling price on a credit sale with the 3% built in and then give a 3% DISCOUNT for cash , money order, etc. That way, the buyer is getting a discount rather than being penalized for using his credit card. I never charge extra for credit cards - it's just a cost of doing business. Besides, if I leave the money in my PayPal account, they pay ME 4.59% annual interest so it helps to offset my fees. Besides, it's a violation of most credit card companies' user agreements to penalize buyers for using their card.
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  • MFI
    We get charged 5% for any card number I have to enter manually. Yes it is the cost of doing business but for us small guys with store fronts battling all the marts and Jim bob down the road operating his business out of his trailer, in the long run the fees add up. My auctions all state extra fee for CC of 3%. Thats the way it is bid if you like or use a money order which the majority do.
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  • CS8161
    If I am selling a gun and charging the customer 10% commision, then I only make 7% if the buyer uses a charge card.
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  • dkb2003
    quote:Originally posted by D@D
    quote:dkb2003
    Posted - 01/27/2008 : 2:46:19 PM

    Yes it is and im not a dealer...That is why they say cash price. That 3% to them will kill a deal and they make nothing

    I wont bid if they charge for CC use.
    THATS WHY U LIVE IN AMERICA...THATS UR RIGHT
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  • Permanently deleted user
    quote:Originally posted by AZEX
    A good dealer will get a merch svcs co that lets them swipe your debit card and key in your pin on their machine.

    Usually, the total fees are less than a dollar for these types of transactions.

    Debit, Same as Cash. I have this sign up at my tables when I'm at a gunshow.

    D.


    Debit is same as cash here...but I cannot eat the 3% with the profit margins I'm looking at. We offer a cash discounted price.
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