Cool idea. Never thought of it.I have seen it but it is not as common as it once was.
There is a workaround however:
How To Buy Gas With Credit Card And Still Get The Cash Price
The gas station I usually go to added a discount for cash. The prices posted high on the board are cash prices. Down at the street level, there is a smallthefinancebuff.com
I'm pretty sure that's an agreement between the credit card companies and the gas stations that was reached 10-15 (maybe more, time flies) years ago when the gas stations threatened to stop accepting credit cards. The gas stations only make a margin on the volume of fuel they sell, which doesn't fluctuate with the price of the fuel, but the credit card companies take a percentage of the total sale. When the price of fuel spiked the gas stations were paying more to the credit cards than they made for selling the fuel. It was mostly used in the truck lanes where they regularly ring up $500.00 sales. In the US the agreements between the CCs and merchants prohibit both cash discounts and credit surcharges practically everywhere else.
I chased this practice years ago. From your $5000.00 example, if you are paying by credit card, the merchant simply passes on to you what the credit company charges him.The net effect is he still gets his $5000.00. all things being equal. I called the credit card company and they told me there is nothing in the credit card agreement between them that prohibits this practice. I totally understand where the merchant is coming from, especially if his credit card sales are a small volume of his sales, but if I can find another merchant that does not pass this cost of doing business on, then I just shop there.It is a matter of choice from both sides.
Consumer Protection will punish credit card shenanigans
<p>Santo Domingo.- The Consumer Protection Agency (Pro Consumer) warned Fri. that the practice of some commercial establishments of charging commission or surcharge to users who pay with credit cards is “illegal and abusive.” It announced that businesses that incur in this irregularity to the...dominicantoday.com
Ok so the government says a business can not charge you more for using a credit card.
But can they offer a cash discount ?
In other words the price is 5000 pesos on that item and you pay 5000 with a credit card but if you use cash then it's 4600 pesos ?
Would that be abusing the law ?
Of course in the US, Canada or Europe the price is the price either way - but here almost all appliance stores, or cell stores offer discounts for cash - seems to me they are still punishing credit cards
