Status of Everything Attachments

[2manyrocks]

LOL. Your reasoning and mine are polar opposite. So you believe that it's okay for someone to make a sketchy purchase for the sole reason that the CC company will take the hit for them?

Oh, and your reasoning is simply because they can afford it. SMH

Why are you making inferences about what I believe or don't belief that exceed the scope of what I posted?

Many CC companies are based in South Dakota because South Dakota has no usury law limiting the amount of interest that can charge on credit card balances. For credit card companies, it's a numbers game that overall they are going to be highly profitable charging high interest rates on outstanding credit card balances in spite of some losses from whatever protection they may provide to their customers.

 

[workinonit]

So that makes it right? People that can't afford to pay their CC bill end up paying for Joe Shmoo's grapple from EA. That's my point.

 

[D2Cat]

yeah, hard to shed a tear for the CC crooks who are in the business of usury.

CC companies are in business to provide funds for folks who can not manage their money. They have to have things NOW, and willing to pay the interest to get it. Hard to shed a tear for those who need them!

 

[tradosaurus]

CC companies are in business to provide funds for folks who can not manage their money. They have to have things NOW, and willing to pay the interest to get it. Hard to shed a tear for those who need them!

I guess you support pay day loans? Usury is a sin.
You might also support preying on the elderly and the poor because they can't manage their money.

 

[34Willys]

There were a lot of home owner insurance companies that operated in the same business mode of way overcharge and invest that overage to make a killing that you'll never have to tap into.
Oops, that business plan went up in smoke.
The credit card companies have a much more lucrative system drawing income from both retailers and buyers for every transaction.
And, as a former business owner, please don't brag about your free airline miles that is paid for with extra percentage fees charged to the retailer. I would see a .6% to 1.3% decrease in my profit with those cards.
Patrick

 

[Oaktree]

CC companies are in business to provide funds for folks who can not manage their money. They have to have things NOW, and willing to pay the interest to get it. Hard to shed a tear for those who need them!

I often use a CC and I manage my money just fine. I use a CC because it's convenient, sure beats carrying a big roll in my pocket and, partly because I get cash back giving me a slight discount on a product or service.
I pay my bill in full every month.

And, as a former business owner, please don't brag about your free airline miles that is paid for with extra percentage fees charged to the retailer. I would see a .6% to 1.3% decrease in my profit with those cards.

As a business owner, you could choose to either not accept CCs, and/or give cash customers a discount equal to the amount of the swipe fee. If you do/did any online sales accepting CC is pretty much a must.

 

[steve tym]

As a business owner, I surcharge customers 3% when they use a CC because I don't want to loose 3% on sales for those that use CC's. People that use CC's pay for there own points. Think the big store don't know what they pay the CC companies and build that into their pricing? Shame on you.

 

[kennyd]

In one of the 2-series groups on FB a guy just asked about EA, he was trying to order a grapple. It's crazy that the word is not really out yet and the website is still functioning (except for the payment gateway).

 

[34Willys]

My auto shop was in very rural and poor part of California. Many clients unable or unwilling to pay largish bills with cash, and illegal in California to surcharge for using credit card. Profit margins are super tight in auto repair business, so discounting for cash?, way out of the question.
Patrick

 

[jyoutz]

My auto shop was in very rural and poor part of California. Many clients unable or unwilling to pay largish bills with cash, and illegal in California to surcharge for using credit card. Profit margins are super tight in auto repair business, so discounting for cash?, way out of the question.
Patrick

I never use cash anymore other than for purchases of $20 or less. If a business wants to charge me extra, I will patronize someone else. It’s becoming rare that they try to charge extra for credit cards. I pay my bill every month and don’t carry a balance.