adam.riggins - Latest Comments in Minimum Purchase Required

Re: Minimum Purchase Required

Adam — Mon, 21 Dec 2009 17:24:30 -0000

I don't think it's an official law, but credit card companies have policies against it.

Re: Minimum Purchase Required

Tiffany — Mon, 21 Dec 2009 15:09:11 -0000

So is there a law for this, because I think that this is ridiculous

Re: Minimum Purchase Required

Adam — Mon, 28 Sep 2009 21:58:49 -0000

that's true, and if you pay it off, it can help your credit. It's a smart thing to do!

Re: Minimum Purchase Required

Jason — Mon, 28 Sep 2009 21:37:55 -0000

I pay for everything with my Credit Card because then I can track my purchases and even my budget using sites like Mint.com. Plus, I get great rewards point on it, and that's undeniable extra cash in my hand every month or so. As long as you set up alerts on the card site to help you know exactly what your balance is (and be sure you don't charge money you don't have the cash to pay for), it's smart.

Re: Minimum Purchase Required

Adam — Mon, 28 Sep 2009 14:52:01 -0000

That's a good point. I have been trying to carry cash around more so I know EXACTLY how much I have to spend on stuff.

Re: Minimum Purchase Required

Adam — Mon, 28 Sep 2009 14:51:33 -0000

I didn't know that! I kind of like it when they ask for my ID, I have to admit...

Re: Minimum Purchase Required

Matt — Mon, 28 Sep 2009 14:44:02 -0000

I think you should just pay with cash. There is no fee to withdraw cash (providing it is at your bank). Besides, maybe this will make you really think about if you should buy the drink. I have been in stores wanting a drink or candy bar, etc. and they have a minimum charge. I end up not buying anything realizing that I didn't need it. In that regard, the plan has backfired.

Re: Minimum Purchase Required

Diane — Mon, 28 Sep 2009 14:34:20 -0000

It is definitely breaking the card holder's agreement when merchants pull this stuff. Did you also know that they're not supposed to check IDs either?

http://www.privacyrights.or...

Re: Minimum Purchase Required

Adam — Mon, 28 Sep 2009 11:42:16 -0000

Great perspective, thanks for posting. I would imagine it would be a bit different from the business owner side of it...

Re: Minimum Purchase Required

seven — Mon, 28 Sep 2009 11:36:58 -0000

Interesting. I am a business owner, so I can see it from both sides. Before I bought my coffee shop from the previous owner, she had established a $3 minimum purchase rule. I did away with it, mostly because I feel bad making people buy more than they want. It's been something I struggle with though, because I have a per-swipe fee on top of the percentage, so if someone buys a $1 muffin, I only get like 80 cents of that by the time all is said and done. So it's better for me if they buy more, because then I am selling more product AND it makes the swipe fee a little less important. But honestly, I haven't noticed a huge difference since I stopped with the minimum... it's not breaking me or anything, and like you said, it's built into the price of the product. It IS good to know that it's against the TOS to set a minimum though... I had no idea.