Typically every rewards card has that wording printed on it. And since the great majority of these transactions are electronic I can't imagine it would be that involved to determine how to process them.
Would you patronize a store named say "Fair-Mart" that posted and promotes the following:
We don't expect you to pay for items in the other persons cart so we also don't expect you to pay bank fees and "rewards" that are not applicable to your transaction so those additional costs are directly added only to those transactions.
How would it be a penalty if customers had to pay for what they get? If someone has a "rewards" card the merchant is providing additional value in the purchase?
Do you think that folks should pay for what they get?
Not sure what if anything that has to do with CC transactions.
The CC company is. The CC user has a contract with the CC issuer, which they're both in compliance with. The merchant has a contract with the CC clearance house, which they're both (presumably) in compliance with. No one is being forced to do anything. What's not to like?
Sure, they do when the bill comes. Everone follows the terms of their contract.
The merchant contracted to accept CCs. No one forced him to. Think about it some more.
Well, it could be that I pay for just about everything with my debit card so I don't have to deal with getting change, waiting while they count it out, jingle the coins around in my pocket, etc.
I slide my debit card, push a few buttons and I'm done. It's quick and easy...I'm impatient.
I've got no problem carrying cash when there's a need for it and I usually have $40 - $50 in my pocket at any given time, but rarely do I need to have $200+.
Indirectly, yes. When I think I want a little cash, I use the cash back feature of my debit card and get $40 or $50 back from the cashier. Grabbing 2 twenties out of the register is pretty easy for most cashiers.
Even if they offered it, I'd never ask for $200.
Incidentals can be bought with a debit card, you know.
I don't have to stop at the bank *ever* to take out cash. I get my cash at the same place I pay for my purchases - the store's cashier or self check out registers. So having $200 in my pocket saves the minuscule amount of time required to have the cashier hand it to me. There's no "stop at the bank" saved.
Besides, it isn't about the current $200 anyway. If I buy something for $16.57 on my debit card and return it, that's coins in my pocket that I don't need. In fact, when I returned the $200+ items, it was on multiple receipts and the cashier processed each return as a separate transaction. I had well over a dollar's worth of coins in my pocket and a bunch of singles when I was done. Who needs that?
You posted a link for Home Depot in Canada. I live in the US.
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Returns within 90 days of purchase and with a valid sales receipt will be exchanged, refunded in cash, credited to your account or refunded via The Home Depot store credit.
and
Receipts for purchases made with credit, debit or check within the last 90 days may be located in our system. Ask a store associate about receipt look up.
So, even without a receipt, a receipt for a debit card purchase can be "looked up", making it subject to the first policy, where it states that returns can be "refunded in cash". They do say "credited to your account" but it's never happened to me. I'm guessing they mean an account that a business might have, not the account that my debit card is attached to.
I don't think so. Ultimately the purchaser is the one who pays for the goods and all overhead and expenses related to selling them.
Currently if two folks walk in to purchase something and customer "A" has a rewards card and customer "B" pays cash both are paying towards the cost of the transaction. Since the cost of "rewards" and the costs of handling cash are all rolled together customer "A" is only paying for part of their rewards while customer "B" is helping to pay for customer "A"s rewards.
I noticed many of them are not interested in paying a tribute to timmy geitners "too big to fail" buddies so they will talk regarding price if you offer cash/check as payment. So you end up with a better final price.
You lost by going for the ad hominem attack. I get it that you like to imagine there is no cost to anyone for your "rewards" since it is just "overhead". But do you really think the tooth fairy is paying for your "rewards"?
Remember that contract thing you mentioned?
Sorry most knowledgeable one, please explain in detail how someone besides the customer ultimately pays for the goods and the cost of selling them that they purchase?
I'm not a Democrat. I know money doesn't grow on trees. Costs are paid out of the seller's profits. He can't raise the price because someone down the street can then sell at a lower price. Simple economics.
Fine. Go for it. Since they don't, you're SOL. Sorry, the only vote you get is to take your business elsewhere. Stop whining.
One word: competition. Now, go back and take a rudimentary economics course.
I believe that's wrong. Many businesses do offer cash discounts (e.g. gas stations). They are *not* allowed to pass-on costs but they can discount from advertised prices.
Not really, just your interpretation. But you do discredit yourself when you choose to insult people.
You do know there are two ways to adjust prices to achieve the same results right?
I will mention that to some folks I know who are part of a 400 store co-op who recently negotiated a deal with a new credit card processor that specifically allows for them to offer cash discounts. It also allows for them to issue their own gift cards which the CC will not get a cut of.
So much for your self proclaimed expert status.
Why the need to make yourself look silly with the constant personal attacks?
Yes, thats why merchants are renegotiating contracts where possible. There was a local case like you describe. A local family has some local stores and they decided to offer a cash discount at the register. It went to an upper level court who affirmed the decision against them.
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