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Author Topic: Minimums on Credit Card Purchases  (Read 2535 times)

Offline bosoxfan

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Minimums on Credit Card Purchases
« on: September 02, 2010, 08:19:19 PM »
A little known side effect of the Financial overhaul is the merchants can now impose a $10 minimum on CC purchases. i know this is already common at "community" stores, will we start seeing this at national chains?
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Offline Dan

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Re: Minimums on Credit Card Purchases
« Reply #1 on: September 02, 2010, 08:30:44 PM »
Quote from: bosoxfan on September 02, 2010, 08:19:19 PM
A little known side effect of the Financial overhaul is the merchants can now impose a $10 minimum on CC purchases. i know this is already common at "community" stores, will we start seeing this at national chains?
Source?
Never heard of this.
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Offline bosoxfan

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Re: Minimums on Credit Card Purchases
« Reply #2 on: September 02, 2010, 08:35:30 PM »
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Offline Dan

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Re: Minimums on Credit Card Purchases
« Reply #3 on: September 02, 2010, 08:46:23 PM »
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Offline aussiebochur

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Re: Minimums on Credit Card Purchases
« Reply #4 on: September 02, 2010, 08:53:15 PM »
"does not apply to transactions made with a debit card."

Not much good, but better then nothing...
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Offline Yordai Dooma

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Re: Minimums on Credit Card Purchases
« Reply #5 on: September 02, 2010, 10:09:36 PM »
Wouldnt be surprised if they all started doing this and then one company went with the "southwest airlines" mentality and allowed all purchases.
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Offline bosoxfan

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Re: Minimums on Credit Card Purchases
« Reply #6 on: September 03, 2010, 09:10:40 AM »
I would imagine that the volume of cc sales in chain stores means more profits by allowing any sized purchase rather than possibly eliminating smaller purchases all together
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Offline aussiebochur

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Re: Minimums on Credit Card Purchases
« Reply #7 on: September 03, 2010, 09:17:46 AM »
Quote from: bosoxfan on September 03, 2010, 09:10:40 AM
I would imagine that the volume of cc sales in chain stores means more profits by allowing any sized purchase rather than possibly eliminating smaller purchases all together
I don't think people will stop buying milk if they can't use a cc...
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Offline Chaikel

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Re: Minimums on Credit Card Purchases
« Reply #8 on: September 03, 2010, 10:27:12 AM »
but the price of training all those cashiers to differentiate between more and less than $10, would be astronomical.
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Offline Yordai Dooma

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Re: Minimums on Credit Card Purchases
« Reply #9 on: September 03, 2010, 10:29:42 AM »
Quote from: aussiebochur on September 03, 2010, 09:17:46 AM
I don't think people will stop buying milk if they can't use a cc...

it would not, but it would be really annoying as i never have cash on me. The 3-4 points would not matter to me as much.
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Offline Avid Reader

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Re: Minimums on Credit Card Purchases
« Reply #10 on: September 05, 2010, 11:47:41 AM »
Quote from: aussiebochur on September 02, 2010, 08:53:15 PM
"does not apply to transactions made with a debit card."

Not much good, but better then nothing...

Actually that's a big one for us guys squeezing 3 cents at the gas pump...
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Offline Dan

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Re: Minimums on Credit Card Purchases
« Reply #11 on: September 05, 2010, 12:00:41 PM »
Quote from: Avid Reader on September 05, 2010, 11:47:41 AM
Actually that's a big one for us guys squeezing 3 cents at the gas pump...

C'mon, never more than 2 cents  :D

Has anyone been able to do a 1 cent squeeze?
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Offline Avid Reader

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Re: Minimums on Credit Card Purchases
« Reply #12 on: September 05, 2010, 01:16:40 PM »
Quote from: Dan on September 05, 2010, 12:00:41 PM
C'mon, never more than 2 cents  :D

Has anyone been able to do a 1 cent squeeze?

On a rare occasion I get a 2 cent, but never less. I wonder if it has anything to do with which gas station you use.
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