Quote:
Originally Posted by rsmlp
Credit card fees on master card or visa are less than 2%, hardly reason for not accepting them given their convenience. That said, we remain big VK fans.
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I have to disagree with your 2% fee statement. As a business owner I see these fees every month. The fee structure varies with the card Issuer (MC, Visa, AMX, Dis.) and the style of rewards that the card offers. It is even different for a business , personal, or govt. card. Yes the merchant is helping the credit card company underwrite your rewards in the form of a higher "merchant discount fee". I've seen total card discounts vary from 2% to almost 5% depending on the card, a 2% total discount is almost never the case 3-1/4 to 4% is more the norm when you add all the fees up.
I don't blame VK for their reluctance to accept cards. I don't think anyone would care to just give away up to 5% of their income to with no real return on that investment. If VK has lines out the door during peak hours the lack of CCd acceptance can't be hurting their business volume to a great extent. Good for them. I wish I didn't need to accept cards, I could put the savings into something with a return to my business.