Quote:
Originally Posted by joey2665
Let’s say you lose 200.00 per year in bad checks that would cover the cost of about 15,000 in credit card charges.
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True, but that doesn't take into account the rest of the gross receipts that are reduced by 3 to 5% because of credit card fees. If you are operating a business that profits 15% of their gross a year the credit card fee is a big hit. If you have a $50,000 month you could lose $1,500 to $2,500 in credit card fees. And, you have to wait a month for your money.
A friend of mine who had a small independent gas station and C store lost money every time someone used a credit card. He had to stay competitive but the markup on gasoline is not that high. He finally gave up and took the tanks and pumps out.