Credit card companies charge retailers up to 6% of the cost of the transaction. They tempt you to use credit by sometimes offering 1% cash back or points or something. Meanwhile, the retailer has jacked up the price of the merchandise by 6% or whatever the credit card company takes off the top and the consumer ends up paying up to 6% extra in order to get 1% back or whatever. Now, when we most need some credit, the card companies slash our credit limits, while at the same time asking for a bailout from the government footed by the taxpayer. I for one plan to pay off my cards and cut most of them up into a million pieces and use cash or debit. Any thoughts?
I know that larger retailers pay less (1-2%). Not sure how much smaller retailers. But my friend owns a restaurant and he pays up to 5% depending on the credit card.
There is a fee for a retailer to use a debit card, but it is a flat fee. Unlike a credit card transaction, which is a percent of the purchase.
Posts Tagged ‘Companies’
How should we repay credit card companies for lowering our credit limits?
Why do credit card companies always offer me crappy cards?
like 0% for 1 year. what good is that? i always pay in full. that’s nothing. like it’s a scam anyways. there are always restrictions and fine prints. anyways. i need cards that give me good cash back. not low interest rates. i already got cards like that for visa and mastercard. but is there a good one for american express?
How To Identify The Best Companies To Work For
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Which Would You Rather Have? Public Option Or Run The Insurance Companies Like Utility Companies?
Public option creastes a non-for-profit entity that competes with insurance companies that are for-profit.
In case no one here knows, a utility company like, Electricity, has a natural monopoly and the governement fixes prices for the company.