Legal and Official

[Professur]

Generally speaking, though, I think your advice, while meant well, is just plain wrong, and I tend to point that out when I see it. I'm just that way.

I've yet to meet anyone who doesn't get their nose outta joint from being told that.

 

[SouthernN'Proud]

Stores pay it because they would rather pay that to the bank and sell their products than limit their sales and not pay anything to the bank.

No I meant who do you think pays that for the store? The consumer, in higher prices. It all ends up in your lap at the end of the day.

 

[SouthernN'Proud]

I've yet to meet anyone who doesn't get their nose outta joint from being told that.

Nice to meet you.

Nobody said y'all had to agree with me. I fully expected no one would. But when Capital One asks, "What's in YOUR wallet?", I can answer...CASH!

 

[Luis G]

No I meant who do you think pays that for the store? The consumer, in higher prices. It all ends up in your lap at the end of the day.

You pay the same wether you use credit card or cash. I believe stores also pay something if you use a debit card.

 

[SouthernN'Proud]

Any expense any retailer incurs is passed on to the consumer. At least that's the case for retailers who remain in business.

 

[Luis G]

Any expense any retailer incurs is passed on to the consumer. At least that's the case for retailers who remain in business.

So you're saying that if banks disappear prices the stores are going to lower their prices? yeah right.

 

[SouthernN'Proud]

That is nowhere close to what I am saying.

Just forget it.

Do as thou wilt, so mete it be.

 

[Luis G]

You said

Credit cards are a rip off every time, every card, in every circumstance.

And there are circumstances under which they are not a rip off, if you're smart enough you end up paying as much as anyone who paid with cash. I don't give a damn if the store has to pay to the bank, everybody pays the same to the store and that's what really matters.

 

[SouthernN'Proud]

I will give this one more try.

I don't give a damn if the store has to pay to the bank, everybody pays the same to the store and that's what really matters.

And what I said was, the prices are raised because the store has to pay for the convenience of accepting the damn things. And we, as consumers, get that cost passed on to us in the form of higher prices on the front end. Econ 101.

[washing hands]

 

[PT]

I will give this one more try.



And what I said was, the prices are raised because the store has to pay for the convenience of accepting the damn things. And we, as consumers, get that cost passed on to us in the form of higher prices on the front end. Econ 101.

[washing hands]

Right, but also econ 101 is that you can take advantage of a situation or ignore it. Your choice. So...


You are going to buy a $2000 plasma tv.

You have two options.

1. Pay cash.

Total cost $2000.

2. Put it on your card.

Now, the interest rate right now is shit, but you can still get 4% in a savings account.

4% divided by 12 = .33%

2000 x .33% = $6.60

So, at the end of 30 days, you still have a $2000 bill to pay, but you now have $2006.60 in your savings account.

Net cost $1993.40.

Now, you can argue that the credit cards are what makes that Plasma TV cost 2000 instead of 1993.40 in the first place and you might be right. However, you aren't going to change that. Sorry. The credit cards are not going away. So, you can either bitch about them or you can accept them and take advantage of the situation.

Also, in the interest of fairness there is another scenario to the second option. You don't pay the $2000 in 30 days and instead start making the minimum monthly payment. Then your $2000 TV costs you somewhere over $4000 in three or four years.

 

[SouthernN'Proud]

The credit cards are not going away. So, you can either bitch about them or you can accept them and take advantage of the situation.

I choose option C. I forget they exist. I live within my means. I have less stress that way.

Also, in the interest of fairness there is another scenario to the second option. You don't pay the $2000 in 30 days and instead start making the minimum monthly payment. Then your $2000 TV costs you somewhere over $4000 in three or four years.

Which is what 99.4% of people do, which is how these leeches make money, which is why the biggest buildings in every city are banks and insurance companies.

Do as thou wilt, so mete it be.