Apmex Charges?

KUCH

I was wondering why Apmex increases it's sell price when you use a credit card? Any thoughts?

derryb

The credit card company gets a cut of all processed transactions. That's how they make money. Apmex is wanting you to cover the CC Co.'s cut (and probably more).

cjmezz

my local B&M is +3% if you pay with a credit card......they said they have fees they have to pay if they use your credit card

mhammerman

Hummmm...It couldn't be the 2%-3% swipe fee that the banks rake off of the cc purchases could it; APMEX has to pay that on your purchase so they pass it back to you...seems fair? This little fee happens on all credit card purchases and is paid to the issuer. My coin shop charges 2.5% for cc purchases and for good reason. Darned near everything you buy, cc or not, costs a couple of percent more so the banks can rake you for using the convenience of their charge cards. There's a big doo dah going on in congressional hearings about trying to limit them to a few cents maximum, per purchase. Government fighting the banks; mostly made for tv, "to keep you safe". For us cash users, we still pay the same price as the cc users but atleast we don't get all the unsolicited mail, the notices of change in contract, the unsolicited phone calls trying to sell you some more card services, the fees and penalties associated with the use of cc's in purchases.

So, there you go.

Got CASH?

MrBear

All other things being equal, you're better off using plastic than cash. You don't have to carry a lot of cash on you. It's easier to track your spending. Buyer protection. You get points. Etc. Now, it's rare that all other things ARE equal. Many people can't handle the "buy now, pay later" concept and run up lots of debt, etc.

I have a buddy who doesn't have any credit cards (makes tons of $$ in his business, but isn't responsible enough to remember to always pay his bills) and he's always walking around with $1000-2000 in cash on him. Last week he was sort of bragging to me about how he's been able to get along JUST FINE without needing credit cards. I neglected to mention that two days prior, he asked me to order a MacBook Pro for him from Amazon, with my credit card, so that he could save on taxes.

KUCH

I thought it was illegal to tack on fees to cover credit card charges from the banksters?

Next time, I'll ask the retail merchant for a 2-3% discount when paying in cash!

Got cash

Spooly

Try getting a hotal room or rental car without a cedit card! It's a necessary evil.

gsa1fan

<< <i>Try getting a hotal room or rental car without a cedit card! It's a necessary evil. >>



The ONLY reason I got a debit card was this exact thing.

RMLTM79

<< <i>All other things being equal, you're better off using plastic than cash. You don't have to carry a lot of cash on you. It's easier to track your spending. Buyer protection. You get points. Etc. Now, it's rare that all other things ARE equal. Many people can't handle the "buy now, pay later" concept and run up lots of debt, etc.

I have a buddy who doesn't have any credit cards (makes tons of $$ in his business, but isn't responsible enough to remember to always pay his bills) and he's always walking around with $1000-2000 in cash on him. Last week he was sort of bragging to me about how he's been able to get along JUST FINE without needing credit cards. I neglected to mention that two days prior, he asked me to order a MacBook Pro for him from Amazon, with my credit card, so that he could save on taxes. >>



That's why theres debit cards. I mostly keep cash on me but in the case I need to buy something online for say, $42.65, I just deposit $43 through my ATM and I'm set. I'm all for cash and not giving big banks my business but like others said, for certain things you just really need a card.