Comments on: Banks vs Retailers: The Battle For Card Usage

By: Consumer purchase battle over defaults « Nudge blog

Consumer purchase battle over defaults « Nudge blog — Wed, 30 Sep 2009 02:03:40 +0000

[...] purchase battle over defaults By nudgeblog Barry Ritholtz takes note of an ongoing battle between retailers and credit card companies over the processing fee [...]

By: morrisplus

morrisplus — Wed, 30 Sep 2009 00:44:43 +0000

Never own a debit card, if info. is compromised by a retailer your bank balance can be cleaned out in a flash.

Carry an ATM card and credit cards only.

By: manhattanguy

manhattanguy — Tue, 29 Sep 2009 17:18:17 +0000

I stopped using credit card 2 years ago. Only time I use is when I make car reservations where I am forced to use my credit card. My debit card gives 2 points for every dollar spent.

By: dasht

dasht — Tue, 29 Sep 2009 17:18:12 +0000

@ blueoysterjoe, you ask “There was a time when gas stations routinely charged less for those paying cash than those paying credit cards. Whatever happened to that?”

Three things I’ve observed.

First, gas stations in many areas discovered that they are happier having less cash on the premises. One fueling station (biodiesal, not gas) near where I live actually won’t accept cash. If you want to pre-pay multiple purchases with a check they’ll charge a payment card for you.

Second, gas stations stopped trusting in “fill first, pay second”. Now it’s “overpay or exact pay, then fill, then get change (if any)”. So they have extra costs there for handling cash, too.

Third, the habit of charging for cards is alive and well in urban “corner liquor stores” which are primarily cash businesses. They often make extra profit on card fees.

-t

By: Greg0658

Greg0658 — Tue, 29 Sep 2009 16:39:24 +0000

ps cvienne … I throw the register clerks curve balls too .. my regular stops wait for my change to come out before entering the bills only … but I try to show them the subtraction method … $12.82 bought with $15 cash and a late 7 cents (nickel and 2 coppers) .. register says I get back $2.18* .. I use the subtract method on them 2 penny = 80 cents & nickel = a quarter .. pool players like quarters
* or the add back method (nickel and 2 coppers) ups 18 cents to a quarter

By: blueoysterjoe

blueoysterjoe — Tue, 29 Sep 2009 16:33:49 +0000

There was a time when gas stations routinely charged less for those paying cash than those paying credit cards. Whatever happened to that?

By: Greg0658

Greg0658 — Tue, 29 Sep 2009 16:23:29 +0000

Mannwich Says* “And not to mention that stores (and small restaurants) going to cash-based transactions makes it easier to cheat on one’s taxes. A quiet revolt is happening.”
and Joe Retail Says “last couple of trips to Europe (particularly in Germany) that a number of small retailers and restaurants no longer take credit cards”

Way and Way Not to help pay for the worlds military police force (maybe / not sure / that Geitner’s job)

* and I’ve thought of that angle too .. I play by the rules (and don’t have an Elite pile to show for it)

By: cvienne

cvienne — Tue, 29 Sep 2009 15:50:16 +0000

I always pay in cash…

Why?

Because it amuses me to no end to see the confused look on the cashiers face (the one who undoubtedly “twittered” their way through math class) when they have to figure out how much change to give me…

You see, it’s not as simple as looking at the register to see how much change to give. I always FOIL them by handing them EXTRA change to get a rounded out return in larger bills, or coins…

(i.e. if the purchase comes to $11. 16, I’ll hand them $22.26, and watch their faces as they figure it out)…

cvienne has to get his gags somewhere… And it’s not just correcting spelling errors!

By: donna

donna — Tue, 29 Sep 2009 15:32:08 +0000

Or, at times, something called “cash”.

By: donna

donna — Tue, 29 Sep 2009 15:31:44 +0000

Some of us foil them all and use these archaic things called “checks”.