Comments on: Worst…Idea…Ever http://www.askmrcreditcard.com/creditcardblog/worstideaever/ Latest Credit Card News, Reviews and Information Thu, 09 Feb 2012 07:48:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: beachgeek http://www.askmrcreditcard.com/creditcardblog/worstideaever/comment-page-1/#comment-107715 beachgeek Wed, 20 May 2009 01:24:53 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=6150#comment-107715 Wow a thought provoking article but with a lot of misinformation in it. First as a business owner of both a brick and mortar retail store and online stores I can say that yes the ability to take credit cards is not only helpful but necessary. I would rather have cash all day long and not pay the 2-3% or higher fees to the CC companies which comes directly off my bottom line and before I get my money. Cash is good credit card payments are necessary but not desirable and if keeping cash on hand then you need to move or hire security. Taking a credit card doesn't make life easier and takes quite a bit more time but I can see the definite advantage of the convenience store gasoline retailer at the pump transactions. I guess you could say the processing fees are voluntary but by that standard so is paying Federal income tax. You might want to restate that assumption.... Lastly, taking a credit card transaction is no guarantee of getting paid and the money can be snatched back from the merchants account without warning at the whim of the processor and only at the word of the consumer that makes a dispute and without giving the merchant any opportunity to respond. Services like Paypal are in fact notorious for freezing funds for as long as 1 to 3 years while in dispute. Why is it that the consumer feels because they choose to use a credit card to shop that the store owner should pay the fee for them?? Why not split it or even the consumer just realize that is the cost of using a CC to buy goods? Many gas purchases have over the years and still have a price for credit card and a price for using cash or debit which is completely fair and makes sense. Nothing unfair or non transparent about this at all and thankfully we can advertise and sell our goods at any price we like as it is still a free country. The consumer decides with their loyalty and patronage to the businesses what the market will be. Wow a thought provoking article but with a lot of misinformation in it.
First as a business owner of both a brick and mortar retail store and online stores I can say that yes the ability to take credit cards is not only helpful but necessary.
I would rather have cash all day long and not pay the 2-3% or higher fees to the CC companies which comes directly off my bottom line and before I get my money. Cash is good credit card payments are necessary but not desirable and if keeping cash on hand then you need to move or hire security.
Taking a credit card doesn’t make life easier and takes quite a bit more time but I can see the definite advantage of the convenience store gasoline retailer at the pump transactions.
I guess you could say the processing fees are voluntary but by that standard so is paying Federal income tax. You might want to restate that assumption….
Lastly, taking a credit card transaction is no guarantee of getting paid and the money can be snatched back from the merchants account without warning at the whim of the processor and only at the word of the consumer that makes a dispute and without giving the merchant any opportunity to respond.
Services like Paypal are in fact notorious for freezing funds for as long as 1 to 3 years while in dispute.

Why is it that the consumer feels because they choose to use a credit card to shop that the store owner should pay the fee for them?? Why not split it or even the consumer just realize that is the cost of using a CC to buy goods?
Many gas purchases have over the years and still have a price for credit card and a price for using cash or debit which is completely fair and makes sense.
Nothing unfair or non transparent about this at all and thankfully we can advertise and sell our goods at any price we like as it is still a free country. The consumer decides with their loyalty and patronage to the businesses what the market will be.

]]> By: El Cheapo http://www.askmrcreditcard.com/creditcardblog/worstideaever/comment-page-1/#comment-107464 El Cheapo Sun, 17 May 2009 01:16:12 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=6150#comment-107464 Yeah, this sounds like a horrible idea for consumers. I like using my credit card so I don't have to carry lots of cash on me, but this could make it difficult. Let's hope this doesn't get passed and dies like so many other bad ideas. Yeah, this sounds like a horrible idea for consumers. I like using my credit card so I don’t have to carry lots of cash on me, but this could make it difficult. Let’s hope this doesn’t get passed and dies like so many other bad ideas.

]]> By: Neil http://www.askmrcreditcard.com/creditcardblog/worstideaever/comment-page-1/#comment-107399 Neil Sat, 16 May 2009 08:00:58 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=6150#comment-107399 Hi I agree totally. I find that money added at the end of transactions very annoying, e.g. the ridiculous booking fees added when you buy tickets online. Hi

I agree totally. I find that money added at the end of transactions very annoying, e.g. the ridiculous booking fees added when you buy tickets online.

]]> By: Eric http://www.askmrcreditcard.com/creditcardblog/worstideaever/comment-page-1/#comment-107385 Eric Sat, 16 May 2009 02:32:13 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=6150#comment-107385 Again, worst idea ever! :( Again, worst idea ever! :(

]]> By: Auditioning For Adulthood http://www.askmrcreditcard.com/creditcardblog/worstideaever/comment-page-1/#comment-107382 Auditioning For Adulthood Sat, 16 May 2009 01:22:40 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=6150#comment-107382 Wow. This would really change things up. But what are the chances of the bill actually passing? Wow. This would really change things up. But what are the chances of the bill actually passing?

]]>