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fspilot747
Topic Author
Posts: 3455
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"Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 2:44 am

I fell out of bed with a throbbing headache today (no, I don't drink), and had 30 minutes to get to class, which is a 10 minute walk. I threw on my Michigan hoodie (which is like staple wear here), brushed my teeth, and stumbled into class nauseated. I sat through class which wasn't so bad and then went to go eat breakfast because I was really hungry.

I'm sitting there enjoying some french toast and eggs, and then go up to the counter to pay. I whip out my Visa, and, for the first time since I've been here I hear the words "we only take cash." So I think to myself, "why in god's name would someone on campus only take cash." Nearly every student here sleeps with their credit card. Then I almost blurted it out, but was like..."um...check?" "nope just cash."

I left my stuff there, walked the two blocks to the nearest ATM (where I recieved a crisp "new 20," bill, which, believe it or not folks, ACTUALLY balances on your finger like in the commercial. Anyways, then I paid and left.

My question is, how can a business survive with just cash. I mean, wouldn't it make sense to accept credit cards and checks for the sake of business?

This was more of a rant, which most of you here don't like to hear but I did it anyways. Makes me feel better, and its all about ME today. ME ME ME ME.

FSP

 
fritzi
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 2:53 am

Thats how it was in Austria when I moved here in 1990. It was pretty much impossible to use credit cards at restaurants and other stores. That meant you always had to carry a wad of cash in your pocket which is a pretty bad thing to do.
Today everything has changed. Every place you go to now takes credit cards.
 
Sabena332
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 3:00 am

I had a similar experience last week, my car was at my Volkswagen dealers garage for the yearly inspection, when I picked it up one day later I wanted to pay with my Visa card because Visa debit my bank account on every 25th of the month. The guy there told me that he only accept cash or debit card, so I had to pay with my debit card. Not a big deal but when I use this card, they debit my bank account one day later after I paid with it, when I had paid with my Visa, I had still a few days time until my bank account gets charged.

To make it short, I can also not understand why some shops don't accept credit cards.

Patrick
NZ1's mother is a disgusting crack-whore and his father is a worthless alcoholic!
 
777236ER
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 3:02 am

Credit cards usually always incur a fee for the shop accepting them.
Your bone's got a little machine
 
777fan
Posts: 2256
Joined: Wed Jan 04, 2006 12:09 pm

RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 3:16 am

There is a family restaurant near where I live that will take checks, but no credit cards.

I know there is a transaction fee that the business is charged for each time a customer pays with a credit card, but you are correct in that almost everywhere, you can use your plastic!

Rgds,

Greg
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JBirdAV8r
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 6:00 am

Credit cards usually always incur a fee for the shop accepting them.

In all places in the US I've seen, it's 1%. Hardly enough to get all bawled up over...sheesh.
I got my head checked--by a jumbo jet
 
USAFHummer
Posts: 10261
Joined: Thu May 18, 2000 12:22 pm

RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 7:05 am

JBird- I think it depends from card to card...we know a few business owners and they say that AMex has a very high transaction fee (from a shopowners perspective) compared to Visa which means less profit off Amex transactions...that is part of the reason some places dont take AMex but most do take Visa...

Greg
Chief A.net college football stadium self-pic guru
 
desertjets
Posts: 7693
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 7:06 am

You got your breakfast on campus right?

As far as I have seen I have never seen an on-campus eatery that took credit cards. They'll take cash and whatever debit/meal plan card they have, but never plastic.

Some fast food places have begun to accept plastic. Though the McDonald's here doesn't take them. While the actual costs incurred by accepting plastic is probably marginal given a place that does a healthy stream of business, oftentimes limiting yourself to being cash only has its advantages. The money from your sales is there, you don't have to wait for Amex, Visa, MasterCard, Discover and so on to send you the money each month. Closing out the tills at night is simpler if it is just cash, as opposed to having to deal w/ credit card receipts and checks. And if anything, it doesn't hurt to ask before you buy.
Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
 
dinker225
Posts: 984
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 9:46 am

My local McDonalds doesn't take credit cards. Went for breakfast one day and they wouldn't take my card. I had to walk away hungry since I had no cash. Shocking how a world wide corporation like McDonalds can live without taking credit cards.

Dinker
Two rules in aviation, don't hit anything and don't run out of gas, cause if you run out of gas yer gonna hit something.
 
j_hallgren
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 3:09 pm

The fee to merchant can be as much as 3% as I recall...it depends on how much business the merchant does...more business = lower fees as I understand it...why some places don't take Discover it what bugs me...it's my favorite now due to earned cashback bonus...
COBOL - Not a dead language yet!
 
fly727
Posts: 1756
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RE: "Sorry, We Don't Take Credit Cards"

Tue Oct 21, 2003 4:03 pm

When I moved to the US I thought how silly the people were using a card (not always credit) for puchases of as low as 1.99 or amounts like that. I learnt later it was a very efficient way to organize your finances and now I do not doubt to do the same either here or anywhere in the States. The funny thing is that now, I'm the one getting the awkward looks everytime I pay things such as a pack of cupcakes and 5.00 in gas with plastic ! Big grin

RM  Smile
There are no stupid questions... just stupid people!
 
777fan
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Joined: Wed Jan 04, 2006 12:09 pm

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 1:10 am

J_hallgren,

You beat me to it, yes, it can be as much as 3% depending on which card and how much the business uses a specific company.

McDonalds, not sure why, maybe has something to do with the low cost of each meal!

Fly727, I have used mine for small amounts also!

Rgds,

Greg
DC-8 61/63/71 DC-9-30/50 MD-80/82/83 DC-10-10/30 MD-11 717 721/2 732/3/4/5/G/8/9 741/2/4 752 762/3 777 A306/319/20/33 AT
 
777236ER
Posts: 12213
Joined: Sat Aug 18, 2001 7:10 am

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 1:37 am

Even if it's as low as 1%, stores don't want to lose 1% of everything that comes through the til. It is a big deal to them.

As to McDonald's - credit card orders take too much time. Think of how long it takes to swipe the card, print out the slip, get the customer to sign, check the signature (important step: McDonald's are fucked if the signatures don't match and the spotty 18 year old doesn't catch it), then print of the reciept.
Your bone's got a little machine
 
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seb146
Posts: 23600
Joined: Wed Dec 01, 1999 7:19 am

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 2:36 am

Something that no one seems to get is: Stores that accept checks or cards have all the logos of all the cards they accept and also have the logo of the check authorization company all posted on their front door. At my restaurant, we do not have these logos anywhere and we also have a large sign on the drive-thru speaker box that says 'CASH ONLY.'

On topic: Yes, it does cost to accept cards and checks. Some banks charge the stores 25 or 35 cents per transaction plus the store must pay for another phone line or lines for the card machine and for the machine itself. Then there are the fees for returned checks. Sometimes the store loses money on those some of those checks due to fraud. So to cover those costs, they must raise prices to off-set the losses of those checks.

With 'fast food' places now accepting cards, they are slowly backing away from the 'fast' part as it takes time for the transaction to go through and if that card is declined, the customer pulls out another and another until one is accepted.

Cash is easier.

GO CANUCKS!!
You bet I'm pumped!!! I just had a green tea!!!
 
goingboeing
Posts: 4727
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 2:55 am

For those of you using a credit card to buy your Mickey D's treats... I sure hope that you are paying the things in full at the end of the month. You know how much a big mac really costs when it's spread over 5 years at 21% interest?
 
777fan
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 3:04 am

Maybe you could buy the Big Mac with a 6 months same as cash program!

 Big thumbs up

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bhill
Posts: 1887
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 3:45 am

I believe the marketing ploy for credit cards is that as more people have them and they are easier to use, more folks will patronize your business. I for one hate using cash..I do not like change jingling in my pockets. If a place does not accept plastic, I go elsewhere...

Cheers,

Bob
Carpe Pices
 
goingboeing
Posts: 4727
Joined: Sat Dec 04, 1999 1:58 am

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 4:34 am

Bhill - the sad fact is, credit card comapnies are maketing to college kids - big time. Too many of those kids don't have any idea of how much trouble a credit card can bring them. First it's used for clothes...then maybe a stereo...then fast food. And at $50 a month (minimum payment), it becomes oh so easy for them to "get what they want - now". When they graduate, they are among the millions who have outstanding credit card debt. I believe I read where the average American has credit card debt totaling $12,000. That's why I think it's a really big mistake to be putting fast food on a credit card - unless you are disciplined enough to pay the thing off - in full - every month. I know from experience. I was in big time credit card debt. I got it paid off. Now, I treat it like an extension of my bank account...if the money's not in the bank to buy what I want, the card stays in the wallet.

Do the math...just one Mickey D type meal per day on a credit card comes out to about $35 a week. Over the course of a school year, that's over $1,000 - for just one "easy" meal per day. Then start adding in date nights, clothing, entertainment, gasoline, etc. and you can get so far in the hole it will seem like you'll never get out. And this isn't a slam at college students, but I don't think they are that disciplined about money - and the credit card will allow them to do things that they otherwise wouldn't do if it weren't so "convenient".
 
srbmod
Posts: 15446
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 4:47 am

Here's a sign of the apocalypse:



Starbucks now has a VISA credit card that can also be used as a Starbucks card (prepaid coffee card Big grin)

 
B-707
Posts: 503
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 5:22 am

My local chinese restaurant only takes cash. It's hard to miss the huge sign on the door "CASH ONLY" Right next to the sign. "If you overfill your carton, we'll charge you twice" The take-away buffet is great, but for Godsake don't let any noodles hang out of the box or you pay twice!

To get back to the point. I try to use plastic for all my purchases. I hate using cash unless I'm forced.
 
777fan
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 5:24 am

Ebay and yahoo also have their own visa cards now.......
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L-188
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 5:25 am

My favorite gun store now adds 3% to it's purchases if you use a card to cover the extra charges from the credit Card company

The gun store closest to my house doesn't take them at all.

Frankly I am not bothered, since I rarely pack my checkbook, it cuts down on "impulese" buys of toys.
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
Guest

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 6:35 am

In all places in the US I've seen, it's 1%. Hardly enough to get all bawled up over...sheesh.

It depends on the volume of business as well. It's a bit higher at many small businesses.

With Visa and Mastercard, I believe the retailer gets their money very quickly (within a day or so). With American Express, they have higher fees and send money less frequently (once a month perhaps).

Or perhaps the business is only declaring half that cash on their taxes (which is the more likely case).
 
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lapper
Posts: 1563
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RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 9:17 pm

Until a few years ago, Marks and Spencers here in the UK only used to take cash or their own store card. They then opened up to accepting debit cards and most recently credit cards. They've now gone the whole hog and introduced their own card!
 
777fan
Posts: 2256
Joined: Wed Jan 04, 2006 12:09 pm

RE: "Sorry, We Don't Take Credit Cards"

Wed Oct 22, 2003 11:28 pm

Sams Club is also interesting........they take cash, checks, Discover card, debit cards, but no other credit cards. Also, you can use your Sams club advantage card!

Nothing like the thrill of buying in bulk!

Rgds,

Greg
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Stretch 8
Posts: 2468
Joined: Fri May 28, 1999 4:00 am

RE: "Sorry, We Don't Take Credit Cards"

Thu Oct 23, 2003 2:01 am

Ann Arbor? Met my wife there . . . she is a UM grad. I matriculated at MSU. BTW, the Spartans will slap the yellow and blue silly next week in East Lansing.
Maggs swings, it's a drive deep to left! The Tigers are going to the World Series!!!
 
SophieMaltese
Posts: 2022
Joined: Sat Feb 17, 2001 2:08 pm

RE: "Sorry, We Don't Take Credit Cards"

Fri Oct 24, 2003 9:48 am

there is a restaurant in a suburb of New Orleans that only takes cash. Rumor has it it's a Mafia owned place. Who knows. I absolutely hate credit cards myself and would love to be able to do everything with cash.
 
covert
Posts: 1528
Joined: Sun Oct 21, 2001 1:02 am

RE: "Sorry, We Don't Take Credit Cards"

Fri Oct 24, 2003 11:15 am

Credit cards are expensive unless you have a high volume of sales at high prices. Otherwise, your profit will go to overhead and even in some cases you will run at a loss.
none
 
FrequentFlyKid
Posts: 1097
Joined: Thu Nov 22, 2001 5:04 am

RE: "Sorry, We Don't Take Credit Cards"

Fri Oct 24, 2003 1:26 pm

Go to any college campus in the country and you will find very little cash floating around. It's so much easier for us to use our debit/credit cards. For one, once cash is in your pocket its gone. Take a twenty for example. Break that and it's no more. Using my VISA check card from my bank is great. Keeps track off all my purchases, whether its two bucks at 7-Eleven or $500 at the bookstore. They are great! Credit, on the other hand, is a different animal...

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