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100% of day-to-day charges are on AmX Platinum. Debit card used to pull cash on occasion, c. monthly if that for those very few personal transactions that need to be paid that way.
Someone rips off AmX card and makes bogus charges about every 18 months. Their fraud dept catches it promptly and informs me, last time was a couple months back. I don't ask how, nor do I care. New number issued. I update my password keeper which is under encryption that cannot be cracked except by ChiCom / PLA hackers I guess. If they're after me, all is lost anyway.
Another non-problem solved. They'd have noticed a $5,700 cup of coffee in 2.2 second and told Starbucks to pound sand. Not my concern anyway.
Ok, I am a person who "tried" to pay the utility company $11,500 using online banking. Did you know that if you accidentally hit a comma instead of a period, it totally transforms the amount? Yes, it asked me to confirm, and I still missed it. Fortunately, I overdrew so I didn't have to try to claw the $$$ back from the the utility company.
So that's partially my point. Unless she had $5700 in the bank or that much in overdraft protection, how did this get paid? I had $5k in overdraft protection, and they still didn't advance me the additional amount.
My other point is whether she monitors her account at all. I knew about my mistake the day before I got the OD notice from the bank because I saw it online. I refunded the overdraft protection, which did kick in but didn't prevent the OD, before I got the notice. It cut down on the daily interest charge.
The bank did waive the overdraft fee (my first), but not the CC interest, which is what the OD protection was tied to. They did waive the second month's interest, based on two-cycles, when I called to ask whether I had been punished enough.
Yeah, I know you get your little points. And you need to spend x amount to get your bonus. And you need to justify spending a yearly fee for a card because you need to impress people at dinners. But we're all paying a tax for those credit cards through higher prices. Do you really think your points are saving you money? How do you think those CC companies make a profit?
Even worse are those tech companies trying to get into payments like Apple and Google. What is that about? I know what it's about - they smell the easy money. They want a cut of every transaction like the CC companies do. We're going to have 5 or 6 middleman companies scraping a cut out of every transaction. So easy to make money off you people with your little egos... "but I have to have the platinum/plutonium/infitizontonium card!"
It is just as nonsensical to tell people don’t use their credit cards for the points as it is to say don’t buy gas so it will go down .
We get thousands of dollars a year in rebates via points and there is zero reason to give that up as prices ain’t going fown unless they do away with credit cards so that ain’t happening.
Those who pay cash pay the same prices we pay with our credit cards only we get rebated back and they don’t. So they are paying for it and getting nothing in return.
So you can keep paying cash while the rest of us get money back
Those who pay cash pay the same prices we pay with our credit cards only we get rebated back and they don’t. So they are paying for it and getting nothing in return.
So you can keep paying cash while the rest of us get money back
Credit cards charge merchant/processing fees which can be as high as 3.5%, depending upon the network (and other factors). Hence, most retailers won't accept credit cards for a cup of coffee or a minimal purchase - particularly considering their processing fees relative to debit cards are considerably lower. You'd have to give up your (minimal, if any) 'rebate points' in said scenario.
Last edited by CorporateCowboy; 03-23-2021 at 04:58 PM..
Reason: typo
Credit cards charge merchant/processing fees which can be as high as 3.5%, depending upon the network (and other factors). Hence, most retailers won't accept credit cards for a cup of coffee or a minimal purchase - []particularly considering their processing fees relative to debit cards are considerably lower[/b]. You'd have to give up your (minimal, if any) 'rebate points' in said scenario.
Do you have any ability to factually support this statement?
Do you have any ability to factually support this statement?
Yes - lol, the Supreme Court ruling which protects retailers who impose a credit card minimum purchase requirement (I can't remember if it's $10 or $20) or surcharges relative to their costs. In the case of small business (or convenience stores where small purchases may be the bulk of business i.e. coffee), it can be difficult to clear much of a profit on those transactions.
Yes - lol, the Supreme Court ruling which protects retailers who impose a credit card minimum purchase requirement (I can't remember if it's $10 or $20) or surcharges relative to their costs. In the case of small business (or convenience stores where small purchases may be the bulk of business i.e. coffee), it can be difficult to clear much of a profit on those transactions.
They may not do so on debit card purchases.
I asked you for factual support for your statement. This response doesn’t in anyway support said statement.
I will quote it again to make it easier for you to isolate
Quote:
Hence, most retailers won't accept credit cards for a cup of coffee or a minimal purchase
Post something that support that most retailers impose a minimum
Credit cards charge merchant/processing fees which can be as high as 3.5%, depending upon the network (and other factors). Hence, most retailers won't accept credit cards for a cup of coffee or a minimal purchase - particularly considering their processing fees relative to debit cards are considerably lower. You'd have to give up your (minimal, if any) 'rebate points' in said scenario.
3% on 100 2 dollar sales is the same as 3% on 2 100 dollar sales
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