SandyinMonterey
DIS Veteran
- Joined
- Feb 1, 2013
Anyone else see/hear the story on NBC Nightly News with Lester Holt last night? It said some retailers like Amazon, Target, & Home Depot does not want to accept credit cards with rewards programs because of high sweep fees. That stinks.
That makes sense. But it seems like I did see a story the other day about some retailers that were going to stop taking Visa credit cards or just Visa all together.Well, they might not like it, but I don't think the major card companies will allow them to discriminate among the brands. If a store agrees to accept Visa, they need to take ALL visas. If these retailers stop accepting major credit cards, they will lose a TON of business.
That makes sense. But it seems like I did see a story the other day about some retailers that were going to stop taking Visa credit cards or just Visa all together.
That makes sense. But it seems like I did see a story the other day about some retailers that were going to stop taking Visa credit cards or just Visa all together.
That was it. But from what I read, the stores are really the ones having to pay for the rewards on the cards because of the high swipe fees? Basically, passing it down to the consumer?The only news story to that effect that I could find is that Kroger stores have stopped accepting Visa cards.
The only news story to that effect that I could find is that Kroger stores have stopped accepting Visa cards.
Well not exactly Kroger.Kroger has not stopped taking Visa cards.
Foods Co in NorCal or something did as Kroger negotiates their costs for Visa processing.Kroger has not stopped taking Visa cards.
Anyone else see/hear the story on NBC Nightly News with Lester Holt last night
My guess is it would just be more specific, for example there is Visa then Visa Signature...signature are the good rewards cards.My question is how would they know if it was a ‘rewards’ cc or not?
PLUS - a lot of Banks’s are offering rewards for using your debut card - so aren’t they also going to restrict debit cards?
My guess is it would just be more specific, for example there is Visa then Visa Signature...signature are the good rewards cards.
There is Mastercard and Mastercard platinum as well.
Appearantly it pertains to Foods Co, which is a subsidiary of Kroger, and it's only ones in California.
I can confirm FoodsCo has stopped accepting Visa, both at their grocery and their gas station. I do almost all my grocery shopping there, and usually get my gas there too. I tried a Visa card by accident the first week after they made the change, and it was not accepted.
The store and gas station seem just as crowded as before, and no one seems to be having a fit over having to use cash or a Mastercard, Discover or AmEx instead of a Visa.
Personally, once I found out they would no longer be accepting Visa, I just got a Mastercard that gives me the same 3% back on gas I was getting on the Visa I usually used, and an AmEx that gives me the 3% back on groceries that that same Visa would give me.
They accept AmEx but not Visa? I thought AmEx had the highest merchant fees?