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The Water Cooler
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Credit card "tax"
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<blockquote data-quote="SoonerP226" data-source="post: 4065593" data-attributes="member: 26737"><p>I'd bet that most places you're seeing that are smaller businesses. The fees don't seem like much, but they can take a big chunk out of their bottom line--you have to remember that the percentage isn't taken out of the cost of the item, it's taken off the top.</p><p></p><p>A friend used to own a LGS, and he figured it up one day. If a customer came in and ordered a rifle, you had the cost of the rifle (including the shipping & handling to get it delivered), plus the minimal fee he charged for handling the transaction, plus the vig that the tax man took. When you added all that up and the credit card processor took their percentage out of the total, they were actually making more on the transaction than he was, which meant he was actually taking a loss on it.</p></blockquote><p></p>
[QUOTE="SoonerP226, post: 4065593, member: 26737"] I'd bet that most places you're seeing that are smaller businesses. The fees don't seem like much, but they can take a big chunk out of their bottom line--you have to remember that the percentage isn't taken out of the cost of the item, it's taken off the top. A friend used to own a LGS, and he figured it up one day. If a customer came in and ordered a rifle, you had the cost of the rifle (including the shipping & handling to get it delivered), plus the minimal fee he charged for handling the transaction, plus the vig that the tax man took. When you added all that up and the credit card processor took their percentage out of the total, they were actually making more on the transaction than he was, which meant he was actually taking a loss on it. [/QUOTE]
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