We use our credit cards alot, pay them up at the end of the month so its like a free loan.
what i dont understand is this, when we use them in shops, bars, restaurants, etc. there is no surcharge, but when you use it for holidays, flights, changing cash, then it is charged at around 2% extra.
why?? is it just another rip off by anything to do with a holiday??? |
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"its a cost that is charged to companies by credit card companies some choose to swallow this some not ,you have to pay a charge for using them to tax you car and also pay your utility bills x"
what a swizz  |
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"We use our credit cards alot, pay them up at the end of the month so its like a free loan.
what i dont understand is this, when we use them in shops, bars, restaurants, etc. there is no surcharge, but when you use it for holidays, flights, changing cash, then it is charged at around 2% extra.
why?? is it just another rip off by anything to do with a holiday???"
The holiday company's probably negotiate a rate of 1% with the card company then charges you at 2% so they make more money  |
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Companies can choose whether they surcharge, but recent law changes state that the charge should be the actual charge incurred by the company. Obviously huge corporations can negotiate much lower % rates with their card companies than small businesses can. It is an option that businesses have, just as it is optional for us to trade with specific businesses. Report companies that you feel are charging more than is right for card use to trading standards. I avoid doing business where I can with rip-off merchants. At worst the charge should be split somehow between me and the business, so its not just me footing their bill. |
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By (user no longer on site)
over a year ago
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"We use our credit cards alot, pay them up at the end of the month so its like a free loan.
what i dont understand is this, when we use them in shops, bars, restaurants, etc. there is no surcharge, but when you use it for holidays, flights, changing cash, then it is charged at around 2% extra.
why?? is it just another rip off by anything to do with a holiday???"
Ok it costs all round what ever you do with money to commercial handle it.
Credit cards is 2.5% though not always but its on average that for a company to process a debit card I think is still 37p a transaction. Saying that it costs to bank cash from paying in to securicor to take it to the bank so it costs for all forms.
Many companies swallow this cost others on a margin won't if profits are minimal though I don't see the justification with holidays but there you go they do.
Just an addition on this you do know some credit cards pay cashback on spending santander and others do a card that will pay up to 3% back which can add up though you pay an annual fee but if you spend a bit it saves a lot. |
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"It's similar to some ATM's charging upto £1.75 to withdraw cash and some smaller shops charging 50p for a transaction on a Debit Card  "
Not sure if anyone has posted o this bit, the recommended charge for ATM should only.be £1.50 but certain shops don't believe in this. |
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By (user no longer on site)
over a year ago
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Not having a credit card cost us an extra 6% deposit to secure the mortgage on our house.
After 5 hours going through the application and proving we can afford it more than 5 times over we were still declined
Being sensible bit us right on the arse
|
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By (user no longer on site)
over a year ago
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"Not having a credit card cost us an extra 6% deposit to secure the mortgage on our house.
After 5 hours going through the application and proving we can afford it more than 5 times over we were still declined
Being sensible bit us right on the arse
"
That's absolutely ridiculous they did that why on earth want 6% more just because you have a card or not? |
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By (user no longer on site)
over a year ago
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We use ours for everything to get a avios points (old Tesco club card points) pay of end of month. Then get days out free with points. Been to lego land and London zoo on them free over kids hold. |
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