3% transaction fee for using Ford Reward Visa to make purchase?

[Hardening2753]

This is not about the Ford visa at all. It's certainly the credit card policy at your dealership and the OP's.

As another reply stated, when a credit card is used the merchant pays a fee. Many dealerships pass that fee through if you try to use a card for a downpayment or entire purchase. This is especially true given the prevalence of rewards and cash-back credit cards today. If there were no fee any person could put down a deposit with their credit card instead of cash, then the next month pay the card off. Over a decade ago I stopped using my debit card except in emergencies and I run everything through a rewards card that I pay off every month. Everyone should do it, if they have the diligence to pay off each month and not allow a balance to build.

Correct. However, companies put out their own credit cards to about paying the need to have a fee. So when you use the Ford credit card with Ford, the fee is less or none at all compared to using a regular bank issued cc. Stealership just wanted a 3% cut for no reason

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[Darnon]

Correct. However, companies put out their own credit cards to about paying the need to have a fee. So when you use the Ford credit card with Ford, the fee is less or none at all compared to using a regular bank issued cc. Stealership just wanted a 3% cut for no reason

The Ford Visa is still just a regular bank-issued CC. It's through First National Bank of Omaha.

 

[Hardening2753]

The Ford Visa is still just a regular bank-issued CC. It's through First National Bank of Omaha.

Correct but when it is sponsored as the official credit card of a company, that company gets a discount on the fees from the bank to process the credit card

 

[mitchwkr]

This is not about the Ford visa at all. It's certainly the credit card policy at your dealership and the OP's.

As another reply stated, when a credit card is used the merchant pays a fee. Many dealerships pass that fee through if you try to use a card for a downpayment or entire purchase. This is especially true given the prevalence of rewards and cash-back credit cards today. If there were no fee any person could put down a deposit with their credit card instead of cash, then the next month pay the card off. Over a decade ago I stopped using my debit card except in emergencies and I run everything through a rewards card that I pay off every month. Everyone should do it, if they have the diligence to pay off each month and not allow a balance to build.

We do the same. We have a 2% cash back card and we charge everything possible on our card and pay it off each month. I've built up a cash back account of 2,500.00 and growing. Free money.

 

[TTrip]

Howdy,

question for whoever got this Ford Visa card : can it be used at a Ford dealer right after getting approved (or one has to wait until it arrives in mail)?

Thanks

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