Canadian businesses can now charge credit card fees | Page 5 | General financial discussion | Discussion forum

canadian.100 said

The shoes were not Prada nor Ferregamo but they were a VERY decent pair of New Balance Running shoes (made in USA, not China) that needed some stitching reinforced just from normal usage after 5 years.

You had a pair of Running shoes that did not wear out over a period of five years?
Obviously, there wasn't much Running involved.

I burn through a pair in about 6 weeks.

pooreva: I weigh 100 Kg and ride a motorcycle daily. There is no shoe that will not require resoling at least once a year in my life.

As to quality - I used to buy Florsheim boots once in a while. When I asked about sole wear (previous pairs had lasted only a month or so), the seller said the soles wore out so quickly for most of his clients that they had the shoes resoled immediately after purchase. He assured me the show repair guy in the same mall would give me a discount if I brought in new shoes for soles.

So much for quality shoes lasting longer. But it should be no surprise - remember all those high-end winter boot tags: "This is a fashion boot, not a snow boot. We make no claims for their survival if actually worn in snow, mud or rain...")

(This does not apply to running shoes. I don't wear running shoes. They have too much grip on asphalt and can twist or break an ankle if they catch on the ground during low-speed maneuvers. And they melt on the pipes and stink. Tough to get off, too.)
RetirEd

pooreva said

Bill said
will lose its shock absorption capacity after about 600k, depending on your weight, etc so I keep a running diary to know when it's time

600k = 600,000???? What? kilometres, hours, days?  

Betting on "steps" ...

Yes, 600 km of running, walking less impact so probably last longer. Also depends on your weight, how lightly or not you tread, etc. I go through a number of pairs per year and then others are happy to have the castoffs for their casual use.

If everyone starts charging the CC fees I think the PC Money account card is a great alternative. It acts as a debit card but gives you rewards (PC points) and is accepted everywhere a mastercard is and you can also pay your bills with it and earn points. Also good sign up bonus.

Norman1 said
The PC Money account card may look like a debit card to the cardholder. But, it is not an Interac debit card to the merchant.

This is from one of their FAQ's:

How do I use the PC Money™ Account card in-store and at ATMs? Do I select Credit or Debit at a point of sale (POS) system?

Some Credit Card terminals and Debit machines do not distinguish between debit and credit. However, if you are prompted to choose, please ask the merchant to select "Credit" in order to use your PC Money™ Account.

I suspect it is a MasterCard prepaid card to merchants. Prepaid MasterCards have an interchange of at least 1.44%. So, a surcharging merchant will apply their credit card surcharge.  

Thanks Norman. That's what I was wondering when I asked the question in Post 63 on the 10th ...

Briguy said
I might be forced to pay bills of companies like Telus in the future with Can Tire bill pay to avoid the upcharge.  

Thanks for mentioning this. I've just spent the last hour reading up on this. I have a CT card and would get offers to have my bills paid on it, but I always ignored them as I'd only get 1% in CT $ vs the 1.5% I get from my other CC in real cash I can use anywhere.

This is certainly something worth looking into for the big bills like House taxes and a few others. I can always find something to buy at Canadian Tire 🙂

Loonie said
@RetirEd: Was the surcharge clearly displayed? Did they draw your attention to this "innovation"? Did you have clear option of debit instead?

I've been wondering this very thing. Since I've heard that a merchant can only surcharge as much as they are being charged by the CC company and the rates the merchant pays can vary depending on transaction type and a host of other factors, I don't think there can be a flat rate for CC payment vs not.

For example, I've read that "premium" cards cost merchants more. I don't know what constitues a "premium" card. But it sounds like a basket of goods paid with one CC may have a different surcharge than another CC.

I'm going to want to know what the cost is of using any one of my cards BEFORE I make a purchase. I wonder too if the surcharge for a given card could be different in different stores. Sounds like it could be.

Using a CC may still make sense, as I might want the extended warranty that the CC offers. But then which card would I use? My no-fee CC or my premium one? Which one would incur the lower surcharge?

I am concerned that I'm not going to have the information I would want before making a purchase. 🙁