comments

Cut local merchants a break with cash

Reader Input
-A +A
Just a thought about helping Colfax businesses. I usually use credit cards to pay for almost everything more than a couple of dollars. Reasons include: not having to carry cash for security reasons, not having to run to the bank too much to get more cash, and having only one check to write per month. It costs U.S. merchants over $30 billion per year to accept credit cards. If you buy a candy bar for $1.50, it costs the merchant about 28 cents to accept your credit card. Average cost to merchants is 2- to 3 percent for larger purchases. Big retailers like Walmart are charged the least because they are big enough to make deals with credit card companies. Since there are no really big companies like Walmart in Colfax, you can bet that our small local merchant friends pay the highest percentages. These fees go to big banks outside our community and provide no local benefits. Colfax businesses happily accept credit cards, but it certainly has got to hurt. I figured this out a couple of years ago and I now pay cash for everything I buy in town. I had some auto body work done at Hickey’s a couple of weeks ago and they even gave me a little cash appreciation discount. I can’t see burdening our friends and neighbors who do business in town with an unnecessary expense when it is so easy to avoid. I hope more of your readers will join me in this small gesture of community kindness toward Colfax merchants. Chris Bushman, proud Colfax consumer