Upgraded to Tesco finest card

chekka

We were promised £75 compensation plus a hamper - guess what? they credited our account with £50.
can they get nothing right???????? :mad:

chekka

we're still waiting for Tesco to give us the full compensation they promised. not good.

OCDOCD

How did you get through the rest of the holiday without any money btw?

sarahlaw_2

Little do you realise but from the retailers point of view we have just accepted a tecso plat card and the merchant services charged us 2.3 % to accept it instead of the 1.8% I am pretty sure that retailers will not be able to keep kfunding bank charges in this recession!.
Work it out if you pay a holiday balance of £8 or £10,000 the fees to the retailer are astronomical! We can not see the difference on the front of the cards, so how are the retailers supposed to know which card is at the higher fee! We have asked the bank merchant services to explain the difference but surprise surprise they cant tell us !!!! You would think they would know what they are charging!

zorber

sarahlaw wrote: »

Little do you realise but from the retailers point of view we have just accepted a tecso plat card and the merchant services charged us 2.3 % to accept it instead of the 1.8% I am pretty sure that retailers will not be able to keep kfunding bank charges in this recession!.
Work it out if you pay a holiday balance of £8 or £10,000 the fees to the retailer are astronomical! We can not see the difference on the front of the cards, so how are the retailers supposed to know which card is at the higher fee! We have asked the bank merchant services to explain the difference but surprise surprise they cant tell us !!!! You would think they would know what they are charging!

Sorry sarah but i dont care how much they charge you to accept my plastic. You need to factor it into your price if that makes you uncompetitive then you need to rethink your margin.
As a customer i want to use my plastic for both loyalty spends and protection.
As a customer i wish to pay the lowest price possible to save me money as a retailer you wish to maximize the profit from your customers. If you cant cope with paying the charge then decline credit cards, though this will loose you business.

Yes places like holiday companys and car dealerships refuse credit cards unless you pay the fee as they work off very low margins typically 5-10% and less in some cases.

I dont know what your business is but you have a choice to accept the cards or not, i will always use them as they pay me to do so, i fully realise that it is a money making machine for them but ultimately its upto you if you accept them or not.

Catslovelycats

I've got one of these cards and am thinking I might be better of with a cashback card than one that just rewards me with points to use with Tesco... It's been great and I use it for everything, but for various reasons, this card doesn't really have the same appeal any more.