After last week’s announcement that retailers may start charging credit card users more for the privilege of paying with credit versus cash, Kroger has announced that it’s considering posting two prices on the shelf for the products it sells — one for cash, one for credit. From WCPO ABC 9:
Kroger, the nation’s largest grocery chain, told The New York Times that it is considering charging Visa and MasterCard users more to use their plastic to buy groceries. This could be the first major change after the recent settlement between Visa and MasterCard with retailers. Under the agreement, stores would be allowed to pass along “swipe fees” to consumers for the first time.
Kroger says it is exploring the possibility of giving cash users a discount at the register, or posting two prices for everything: one being the cash price, the other the credit card price.
Merchants will now be allowed to charge credit card customers 2 percent more, which is the “swipe fee” that is typically picked up by business owners. Some small online retailers are already starting to enact this, according to the Times.
If enacted at Kroger, this means a $100 grocery purchase would cost $2 more if you use a credit card.
hwendt12 says
What I still don’t QUITE get about this whole thing is the debit vs. credit ‘thing’. If you use a card, don’t they get charged either way?? Or is it a different fee for a debit card vs. credit card?
GB777 says
I personally would start writing checks again. We all know how long that takes!
rswehrle says
I am in So. Cal. and many of the gas stations in my area already charge different prices for gas depending on cash or credit. It is very unfortunate that our society has become so dependent on our credit cards that we can not be weened. I think that we will soon be seeing a whole new generation of cash users. I for one know the convience of “debit/credit” cards, but I am also really “cheap aka frugal” that I would hate to just give away my money because of convience. CASH IS KING!!! LONG LIVE THE MIGHTY GREEN BACK!!! I bet most kids today don’t even know who is on the one dollar bill.
Bagnat says
Isn’t this illegal?
Rocketmom60 says
I always use a debit card and will continue if I don’t have to pay extra. If they charge higher price for debit, I’ll go back to cash in a flash. Only use debit for convenience. I can always swing through the bank or (free) ATM machine for cash.