Comments on: Poker Face: The Card Game Visa Is Playing With Your Money http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/ Everything That's Wrong With You And Your Money Wed, 08 Feb 2012 22:32:00 +0000 hourly 1 http://wordpress.org/?v=3.0.3 By: David @ MBA briefs http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/comment-page-1/#comment-3478 David @ MBA briefs Tue, 19 Jan 2010 16:51:58 +0000 http://weakonomics.com/?p=3651#comment-3478 My standard response is always "whatever's cheaper for you" although the salespeople usually give me a blank stare. I assume in most cases it costs the store more to process the credit transaction due to the merchant account fees with the credit card companies, but occassionally my bank's network won't work with their system and I have to ring it up as credit. And sometimes I charge my purchase as credit out of spite ;-) .-= David @ MBA briefs´s last blog ..<a href="http://feedproxy.google.com/~r/MBAbriefs/~3/ubORs_TuUng/" rel="nofollow">How to analyze stocks like a pro – part 5</a> =-. My standard response is always “whatever’s cheaper for you” although the salespeople usually give me a blank stare. I assume in most cases it costs the store more to process the credit transaction due to the merchant account fees with the credit card companies, but occassionally my bank’s network won’t work with their system and I have to ring it up as credit.

And sometimes I charge my purchase as credit out of spite ;-)
.-= David @ MBA briefs´s last blog ..How to analyze stocks like a pro – part 5 =-.

]]> By: Weekend Reading – Carnival’s Coming to Town Edition | HighYields.com http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/comment-page-1/#comment-3455 Weekend Reading – Carnival’s Coming to Town Edition | HighYields.com Fri, 08 Jan 2010 20:41:25 +0000 http://weakonomics.com/?p=3651#comment-3455 [...] Weakonomics – Poker Face: The Card Game Visa Is Playing With Your Money [...] [...] Weakonomics – Poker Face: The Card Game Visa Is Playing With Your Money [...]

]]> By: Weekend Reading – Carnival’s Coming to Town Edition | Darwin's Finance http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/comment-page-1/#comment-3453 Weekend Reading – Carnival’s Coming to Town Edition | Darwin's Finance Fri, 08 Jan 2010 13:12:17 +0000 http://weakonomics.com/?p=3651#comment-3453 [...] Weakonomics – Poker Face: The Card Game Visa Is Playing With Your Money [...] [...] Weakonomics – Poker Face: The Card Game Visa Is Playing With Your Money [...]

]]> By: Kevin M http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/comment-page-1/#comment-3452 Kevin M Thu, 07 Jan 2010 15:55:49 +0000 http://weakonomics.com/?p=3651#comment-3452 As a retailer, I'd rather deal with a 1% fee than a bunch of bounced checks or hauling cash to the bank every day. I think they just ignore or forget about those problems though, since they don't get a settlement statement like credit card processors send. I use my credit card for everything and don't think twice about it whether I'm at a big box or Mom & Pop store. Like KC said, the average credit card transaction compared to cash more than makes up for the fee anyway. As a retailer, I’d rather deal with a 1% fee than a bunch of bounced checks or hauling cash to the bank every day. I think they just ignore or forget about those problems though, since they don’t get a settlement statement like credit card processors send.

I use my credit card for everything and don’t think twice about it whether I’m at a big box or Mom & Pop store. Like KC said, the average credit card transaction compared to cash more than makes up for the fee anyway.

]]> By: KC http://weakonomics.com/2010/01/06/poker-face-the-card-game-visa-is-playing-with-your-money/comment-page-1/#comment-3450 KC Wed, 06 Jan 2010 16:00:38 +0000 http://weakonomics.com/?p=3651#comment-3450 What the merchants fail to remember is that they make more money when people use credit because they charge more. When I'm using credit I buy what I want - when I use cash I buy only what I have cash in my pocket for. I try to pay for small purchases (under $20) with cash. If I'm in a Mom n Pop store or restaurant I try to pay with cash or a check if they take it (places like my hair dresser, dog groomer will take checks and prefer it - I just have to remember to take my check book). But if I'm at Walgreens or a retail store I'm using credit - they've already marked up their prices accordingly into the margin so why should I give them a discount with cash/debit? What the merchants fail to remember is that they make more money when people use credit because they charge more. When I’m using credit I buy what I want – when I use cash I buy only what I have cash in my pocket for.

I try to pay for small purchases (under $20) with cash. If I’m in a Mom n Pop store or restaurant I try to pay with cash or a check if they take it (places like my hair dresser, dog groomer will take checks and prefer it – I just have to remember to take my check book). But if I’m at Walgreens or a retail store I’m using credit – they’ve already marked up their prices accordingly into the margin so why should I give them a discount with cash/debit?

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