Salary packaging card......

S

shilly20

Member
Hey guys,

Just wondering if anybody knows of any online dealers that don't take the 2.5% credit card fee on silver purchases??? I have a salary packaging card which I get paid on so it's effectively a debit card with a MasterCard logo on it, have used it for eBay purchases but you get screwed by higher prices there anyways.....any ideas on how to use the card to buy silver without having to pay fees much appreciated.
 
Given that the percentage you're quoting is close to the dealer's margin on many bullion products... not many.
 
If you select Cheque or savings, the transaction will go through EFTPOS and a flat fee will be paid by the merchant(eg 40c) at most shops the merchant will just absorb this fee. However when Credit is selected a percentage on the total transaction is paid(eg 2%). So as long the dealer understands this concept they should let you use EFTPOS without an extra fee. Fees will vary though depending on the agreement the dealer has with the bank.
 
This is one item the the ACCC is looking at, as retailers are charging a 2% or 2.5% fee for visa\mastercard when it is actually is less than 1%
 
Restaurant near my work charges a flat $5 fee on CC transactions - including the $10 lunch special. 50% surcharge.
 
Hi Shilly, I use salary packaging also. I have often bought Silver using my normal credit card (Guardian in Melbourne only charges 1% additional or via Bullion Bourse).
As you will be aware paying off a credit card can be claimed back under category A expenses up to AUD $9000 per year. I am unsure how that would work using an actual salary packaging card, I download forms from net and send in receipts. However even if you have to pay an extra 3%, the money you claim back means around and extra 30% freed up to purchase more.

DrJ
 
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