nanog mailing list archives
Re: OT: Credit card policies (was Re: Dear Linkedin,)
From: Stephen Sprunk <stephen () sprunk org>
Date: Sun, 10 Jun 2012 13:49:46 -0500
On 10-Jun-12 13:33, Jay Ashworth wrote:
From: "Michael Thomas" <mike () mtcc com>On 06/10/2012 11:22 AM, John T. Yocum wrote:A merchant can offer a cash discount.I believe that the law just recently changed on that account. I believe that what Barry says was the old reality.Perhaps, but Cash/Credit for gas dates back to before I moved to Florida in 1981.
Merchants have always been allowed to offer a cash discount. The ban is (was?) on surcharges for card purchases. In practical terms, this means that if you post only one price, it must be the card price, not the (possibly lower) cash price.
Even Further Off-Topic, isn't "debit" supposed to be "cash"? Why do I pay the Credit price for it?
The "credit" price is subject to the merchant's discount rate, regardless of the nature of the particular card used. The "cash" price is the part of the "credit" price left after the discount rate is applied. Say gas is $4/gal and the merchant's discount rate is 4%. That means the merchant only gets paid $3.84/gal for card purchases. If the merchant charges cash customers $3.84/gal, which is legal, they get paid the same amount of money. However, it is illegal for the merchant to post /only /a price of $3.84/gal and then charge card users $4/gal to cover the card discount; that's an illegal surcharge. S -- Stephen Sprunk "God does not play dice." --Albert Einstein CCIE #3723 "God is an inveterate gambler, and He throws the K5SSS dice at every possible opportunity." --Stephen Hawking
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Current thread:
- Re: Dear Linkedin,, (continued)
- Re: Dear Linkedin, Barry Shein (Jun 09)
- Re: Dear Linkedin, Jay Ashworth (Jun 09)
- Re: Dear Linkedin, Lyle Giese (Jun 09)
- Re: Dear Linkedin, Joe Greco (Jun 10)
- Re: Dear Linkedin, Mikael Abrahamsson (Jun 10)
- Re: Dear Linkedin, Barry Shein (Jun 10)
- Re: Dear Linkedin, John T. Yocum (Jun 10)
- Re: Dear Linkedin, Michael Thomas (Jun 10)
- OT: Credit card policies (was Re: Dear Linkedin,) Jay Ashworth (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Michael Thomas (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Stephen Sprunk (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Robert Bonomi (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Stephen Sprunk (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Joel jaeggli (Jun 10)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Robert Bonomi (Jun 10)
- Re: Dear Linkedin, Barry Shein (Jun 09)
- Re: OT: Credit card policies (was Re: Dear Linkedin,) Barry Shein (Jun 10)
- Re: Dear Linkedin, Robert Bonomi (Jun 10)
- Re: Dear Linkedin, Robert Bonomi (Jun 10)
- Re: Dear Linkedin, Jay Ashworth (Jun 10)
- Re: Dear Linkedin, Owen DeLong (Jun 10)
- Re: Dear Linkedin, Joe Greco (Jun 10)