Are big donors going to want to use their credit cards to make donations tomorrow?

[libertybrewcity]

Regarding the SUPERPAC moneybomb tomorrow, I can understand maxing out to the campaign at 2300, but I don't think a lot of big donors are going to want to charge 1 million, 100k, or even amounts like 50k to a credit card.

I don't have a credit card so I don't know exactly how the fees work, but isn't that a huge extra expense? I know I get offers all the time with something around 10 or 20% interest rates.

And then on top of that there is a percentage taken off of donation from the company before it goes to the PAC. Something like 1-3%? On a million dollar donation, 3% would be 30k gone instantly.


Am I totally off? I hope the campaign has a way that people can wire money or confirm checks or something tomorrow.

Just a thought. What do you guys think.

[bluesc]

I was thinking that when I checked the site about 10 minutes ago.

I'm sure the RevPAC have some way for big donors to transfer funds offline, or a wire transfer, as you said.

I can't imagine someone donating 100k over my CC. Then again, I'll never have that luxury :p.

[smartguy911]

I see recurring charge option on the donate website. I think they will get more people who can donate on monthly basis instead of all at once.

You are right about credit card fees and usually cc merchants are charging around 2-3% per charge. I do hope they will put wire transfer information for those who wish to pay 50k, 100k etc

[VictorB]

I"m guessing that big donors have already sent checks / transfers and RevPac will add that to the ticker accordingly. There is also a PayPal option which allows one to transfer money straight from a bank account.

[steph3n]

Sure people make big donations on their credit cards and pay them off, ever hear of an Amex Centurion card? Get mileage reward points, and more.

[libertybrewcity]

I"m guessing that big donors have already sent checks / transfers and RevPac will add that to the ticker accordingly. There is also a PayPal option which allows one to transfer money straight from a bank account.


Sure people make big donations on their credit cards and pay them off, ever hear of an Amex Centurion card? Get mileage reward points, and more.

cool, well that helps a lot. thanks!

[FriedChicken]

A rich guy I know (unfortunately not a RP supporter) makes big purchases (like vehicles) with his CC so that he gets the skymiles. He doesn't let the costs roll over.

BUT it's still a shame to see a % of the money go towards the CC company. If I was rich I'd probably know how to get around all this ... I hope they do.

[Esoteric]

Regarding the SUPERPAC moneybomb tomorrow, I can understand maxing out to the campaign at 2300, but I don't think a lot of big donors are going to want to charge 1 million, 100k, or even amounts like 50k to a credit card.

I don't have a credit card so I don't know exactly how the fees work, but isn't that a huge extra expense? I know I get offers all the time with something around 10 or 20% interest rates.

And then on top of that there is a percentage taken off of donation from the company before it goes to the PAC. Something like 1-3%? On a million dollar donation, 3% would be 30k gone instantly.


Am I totally off? I hope the campaign has a way that people can wire money or confirm checks or something tomorrow.

Just a thought. What do you guys think.

If you pay your bill, or have a 0% introductory rate, you don't pay any interest. The processing fee for RevPac would be about 2-4%, depending on the type of card.

[runningdiz]

Regarding the SUPERPAC moneybomb tomorrow, I can understand maxing out to the campaign at 2300, but I don't think a lot of big donors are going to want to charge 1 million, 100k, or even amounts like 50k to a credit card.

I don't have a credit card so I don't know exactly how the fees work, but isn't that a huge extra expense? I know I get offers all the time with something around 10 or 20% interest rates.

And then on top of that there is a percentage taken off of donation from the company before it goes to the PAC. Something like 1-3%? On a million dollar donation, 3% would be 30k gone instantly.


Am I totally off? I hope the campaign has a way that people can wire money or confirm checks or something tomorrow.

Just a thought. What do you guys think.

You only get charged the interest rate if you don't pay it off every month. If you pay off the credit card every month you don't have any fees.