No credit card fees

[Bartswife]

I'm thrilled I can pay our balance of our cruise off on our credit card and get the loyalty points which will amount to quite a lot. We are going with P&O send their website is stopping charges on the 11th.

[Inky]

Excellent news . Prefer to make pmt on credit card as it offers protection on payment if the company goes bust. It is more secure as the aternative previously with Charter was personal chq or chaps pmt to avoid the credit card fee.

[k100dmk]

The fees you have listed for your merchant account are quite low. We were quoted much higher and in the end we just decided not to have one. Most of our customer pay via bank transfer as the amounts are high.

American express fees used to be ridiculous, now they have lowered them I'm suprised more businesses don't accept them but most contracts don't come with American express as standard.

From a business owners perspective it does have to be added on somewhere. They shouldn't ban businesses charging, they should limit the profit merchant banks can make on a transaction. Look at the ludicrous fees banks charge to make a transfer into another currency compared to say transferwise.

On the plus side it means I can pay off my holidays with my Amex and get a lot of miles so that's a slight bonus.

[lmartin]

Originally Posted by k100dmk

From a business owners perspective it does have to be added on somewhere. They shouldn't ban businesses charging, they should limit the profit merchant banks can make on a transaction.

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They kind of tried this already - from 2013: moneysavingexpert/ne...ampdown-begins

But it didn't work, hence the ban I guess.

[Guest]

Originally Posted by geoffa

All round its unfair - the card companies take a small percentage of each sale from the seller, then they charge you the card holder interest if you don't pay off your account in full. They are getting it all ways. Amex was not popular with retailers because of their higher cut - although I believe this has been lessened of late. The "cut" was also the reason many corner shops wouldn't accept cards for under £10.

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It is fair. If you pay in full it costs you nothing but you don't have to pay for ages and also get added purchase protection. The credit card companies have to cover the costs of their operation, and you have signed up to the charges if you don't pay on time.