jgedmond
Silver Member
- Joined
- Aug 23, 2019
- Messages
- 236
- Location
- Piney Woods of Texas
- Tractor
- 2011 Mahindra 3616, 2016 Toro MX5050, 2019 Kioti NX5010C
The CC company has to get your 2% from somewhere and take a percentage for themselves. There are many CC transaction companies all with differing "discount rates" and differing terms for the business. 5% is one of the really high ones, but it is that high because of your 2% rebate card. The CC transaction company I am familiar with charges a different discount rate on every card. We don't know what the cut will be until the end of month statement.
The dealer stated the 5% rate without knowing what CC I was using. I just figured that they had a lousy CC processor that charged high fees. From what you are saying, maybe that is the maximum they could pay at the end of the month and not necessarily what they will actually pay on my transaction.