Florida State Park feeding frenzy
I am currently playing the game for spots next winter and doing pretty well at it but a question came to mind. How much money does FL make on the money our credit card payments that they get to hold ...
Forum Discussion
bucky wrote:Why would a government entity get a lower rate on credit card fees? The are not a high volume user. No government agency runs more credit card transactions than Walmart, or Amazon, or probably even the local convenience store. You MAY have one or two transactions with the state via credit card each year, you probably use your card 100 times at the local grocery store in that same period.
I'm not fussing, just stating that that is a huge amount of money upfront that could be invested and should be. After the first year it's all gravy. We used to invest money from the business over the weekend and made bank on it. I'm sure their Comptroller knows how to maximize assets.
I'm also pretty sure that credit card fees are drastically reduced for state and local governments. As is electricity etc.
All of that being said if it had been up to me when we retired I'd have been your neighbor in FL, but you can't separate a Mama from her cubs.
As for "After the first year it's all gravy", I am not sure what you mean. Since reservations are only allowed up to 11 months in advance, the deposit money would be applied to each stay before that year passes. Any money in deposit at that time would be new deposits for the next 11 months, deposits on which a new processing fee was paid. You never get ahead. Like I said before, deposits cost money, they do not generate income. They are necessary only because without them people would abuse the system. They are a cost of doing business, period. They never were and never will be a profit center.
