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(MSN)   Those of you who think you're so smart when use your credit card to rack up reward points, stores are on to you. Get ready for the "Credit Card Checkout Fee"   (money.msn.com) divider line 15
    More: Obvious, credit cards, interchange fee, issuing bank, MasterCard, Consumer Action, rewards programs, visas  
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19720 clicks; posted to Main » on 22 Jan 2013 at 9:40 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-22 09:47:10 PM  
3 votes:

GAT_00: dugitman: I would be surprised if they do.

Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?


I'm going to pay by check.
2013-01-22 10:51:34 PM  
2 votes:

GAT_00: dugitman: GAT_00: Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?

I've been a business owner for 20 years and make a modest living selling product to customers for reasonable prices. I also have (essentially) the only specialty stores of my kind in the area. I'm proactive in the community, spend locally as much as possible, and contract out any work I need with customers able to do it. Most small business owners are much like me. Not some kind of Uruk Hai  scouts for the local Chamber of Commerce

Flab: GAT_00: dugitman: I would be surprised if they do.

Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?

There's more than one grocery store - including a farmer's market - in my area, so this hypothetical scenario will remain just that, but for the sake of playing along....  I would wait until the only grocery in my area* does it before getting my panties in a bunch, at which point, I would figure out if it's cheaper to withdraw a certain amount in cash from the bank every month for groceries.  In the meantime, I will continue to use my credit card as much as I can since I rake in 2-3 times more reward dollars than the annual fee.

But you charge as much as you can without dropping demand, right?  That's the basic tenet of capitalism.  Maximize your profit as much as possible.  That's all capitalism is when you come down to it.  So if you don't have competition, why wouldn't you enact this fee?  If you can get more money from the fee than you lose in customers, why wouldn't you?


Thought it for a long time, but never cared enough to comment. GAT you're an idiot.
2013-01-22 11:24:07 PM  
1 votes:

BadReligion: Meanwhile you could be out your mortgage money or your car payment because someone drained your account. With a credit card, the bank is on the hook for any fraud, and you are out nothing. Credit cards also tend to offer great rewards, I was paid about $1000 in rewards last year, and paid $0 in interest.


If you are running that close, you're doing it wrong.

/Financially independent
//Still like to fark the Man.
2013-01-22 11:04:42 PM  
1 votes:

RandyJohnson: GAT_00: dugitman: GAT_00: Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?

I've been a business owner for 20 years and make a modest living selling product to customers for reasonable prices. I also have (essentially) the only specialty stores of my kind in the area. I'm proactive in the community, spend locally as much as possible, and contract out any work I need with customers able to do it. Most small business owners are much like me. Not some kind of Uruk Hai  scouts for the local Chamber of Commerce

Flab: GAT_00: dugitman: I would be surprised if they do.

Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?

There's more than one grocery store - including a farmer's market - in my area, so this hypothetical scenario will remain just that, but for the sake of playing along....  I would wait until the only grocery in my area* does it before getting my panties in a bunch, at which point, I would figure out if it's cheaper to withdraw a certain amount in cash from the bank every month for groceries.  In the meantime, I will continue to use my credit card as much as I can since I rake in 2-3 times more reward dollars than the annual fee.

But you charge as much as you can without dropping demand, right?  That's the basic tenet of capitalism.  Maximize your profit as much as possible.  That's all capitalism is when you come down to it.  So if you don't have competition, why wouldn't you enact this fee?  If you can get more money from the fee than you lose in customers, why wouldn't you?

Thought it for a long time, but never cared enough to comment. GAT you're an idiot.


Wow, such substantive analysis.  Your voice was totally missing from the conversation.
2013-01-22 10:37:06 PM  
1 votes:
So if the fee is greater than my reward points, I won't use the card. Unless you just priced yourself out of the sale because I can get it cheaper from Amazon and get 3% back form them.
2013-01-22 10:29:18 PM  
1 votes:

dahmers love zombie: Tom_Slick: Just like my stupid power company, pay online $2.00 fee, take $98.00 in ones and change to the drive through, no additional fee.

$98 electricity bill?  Is that what I got from your post?  Please tell me that was simply an example.  Pretty please?

/haven't had a power bill lower than $200 in twelve years


Dude, wow. We're generally around $130-$150 for gas and electricity combined. You running a server farm or something?

/Winter gets expensive because of the heating, get a few $250-300 bills a year
2013-01-22 10:17:32 PM  
1 votes:

Flab: Plus there's a likelyhood that they're also your cousins, in-laws or neighbors.


Or all three.
2013-01-22 10:16:31 PM  
1 votes:
if my local food store or wal-mor decides to slam a doosh charge on CC users they will feel my wrath. $250 worth of goods all over the belt? whoops what's this sign? I object! See ya! yes i will be back to do it again tomorrow. i have that kind of time.
2013-01-22 10:15:53 PM  
1 votes:
Which is why it's always best to shoplift from those stores instead of using that CC!
2013-01-22 09:55:59 PM  
1 votes:

Tom_Slick: Just like my stupid power company, pay online $2.00 fee, take $98.00 in ones and change to the drive through, no additional fee.


SCREW THIS. i AM GOING ALL BILLY MAYS NOW. THIS IS SOMETHING THAT NEEDS TO END IMMEDIATELY. THE BANK I HAVE MY CAR LOAN THROUGH CHARGES ME A $5 CONVENIENCE FEE TO PAY ONLINE. IT SAVES THEM MONEY, YET I GET PUNISHED. NOW THEY GET A PIECE OF PAPER WITH A MONEY ORDER INSIDE WRAPPED IN DUCT TAPE 20 TIMES OVER. THIS SHIAT REALLY NEEDS TO STOP YOU GREEDY BASTARDS.
gja [TotalFark]
2013-01-22 09:50:52 PM  
1 votes:

Rapmaster2000: Xetal: I bet one of the grocery stores in the area won't do this. That will be the one I'll probably shop at.

Grocery stores have razor thin profit margins. You're already paying it, so you'll need to find the one that does charge so you can pay the lower, non-transaction fee amount with cash.


^^THIS^^

I will hit the ATM of my bank prior to shopping.
Then the banks can all collectively bugger each other blind.

/bastards-the-lot-of-them
2013-01-22 09:34:28 PM  
1 votes:
*I reserve the right to put extra asterisks in my just to mess with people's minds.

/That or I badly edited it...
2013-01-22 09:10:24 PM  
1 votes:

GAT_00: dugitman: I would be surprised if they do.

Why?  Businesses are corrupt, greedy farks.  And if the only grocery in your area does it, what are you going to do?


Yes, all business are corrupt, greedy farks. And you wonder why I think you're a conspiracy nut.

/not that you can see this as you have me on ignore
2013-01-22 07:22:21 PM  
1 votes:

bingethinker: Actually, the store's cost for handling credit cards is already rolled into their prices, and therefore they charge you even if you pay cash.


I blame the Jews.
2013-01-22 07:12:01 PM  
1 votes:
Actually, the store's cost for handling credit cards is already rolled into their prices, and therefore they charge you even if you pay cash.
 
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