LakeCumberlandBoaters.com

Just curios how many marinas are charging extra for the use of credit cards ?

None that I am aware of... At least those that I frequent on the West End.

I have not noticed any either.

OK thanks for the replies. LFM seems to be the only one then . I totally understand why they do but was wondering about the others.

If a business tells me there will be a charge to use a credit card, I don't do business with them. I had brought well over 100$ worth of flowers for spring planting to the checkout and was told there was a charge to use my card. I said no way and left, then called and reported them to Master Card for charging an extra fee. This was a few years back. Didn't think card companies allowed a business to charge the customer.

The law changed late last year that allowed businesses to charge credit card fees.

Some gas stations have been doing it for years with a cash price and a card price. Please if any Marinas are doing this please let us know.

I have been debating it for larger purchases. The seller absorbs all the costs and liability when taking a credit card for anything sold. 3% (or therabouts) can add up pretty quickly on a large ticket, and it is basically going to the user to pay for their points program to begin with. I wish I could get by without taking cards at all, but that will not happen.

We have negotiated our rates to around 1.28% but in our busy season it really adds up.

The trouble with getting a "rate quote" is they use averages. It depends on the card what the rate ends up being. A Visa Gold card issued by Capital One carries a totally different rate than a Visa card from an issuers bank, and that is different again from a Visa debit card used with a pin vs without a pin. I won't even venture into AmEx territory. I refuse to take those rediculous things.

I use a credit card to protect myself, there are actually people out there, that take advantage of others. A credit card "keeps me from getting screwed"...

Credit card fees were a huge part of why I sold my business. Since my store had gas the fees were huge. It averaged $0.10 per gallon that I lost when a credit card was used vs. cash. That was when the retail was in the $3.50/gallon range. It is also why many places put a minimum (i.e. $5.00) on credit card transactions. Some of the fees are straight % rate, others have a flat rate transaction fee plus a % rate.

It is so confusing that my credit card statement for the store was 34 pages long. The rate is even higher for all of our 'rewards' card. The credit card companies don't pay for those, the retailers do, and now the retailers are finally allowed to pass those fees on to the consumers.

You may not like it, but it could be the only way your favorite stores stay profitable, and thus, open. Think of it as a user fee.