Chef Jim Posted October 14, 2011 Share Posted October 14, 2011 Really? I've gone hardcore to using my credit cards for almost ALL purchases and paying off the balance every month. Considering the bank accounts net almost 0% interest and the CC's have either cash back or some other incentive, it works out reasonably well. Same here. I only used my debit card to get cash from the ATM and that only happens once a month at the most. If I could pay my rent with a credit card I would. Link to comment Share on other sites More sharing options...
GG Posted December 8, 2011 Share Posted December 8, 2011 Flogging a dead horse never gets old. A big win for consumers and small businesses? Maybe not. About that fee cap - WSJ "Debit-Fee Cap Has Nasty Side Effect .... A new law that was supposed to reduce costs for merchants that accept debit cards has instead sent Mr. Scherr's monthly processing bills much higher and forced him to reassess the way he does business. "My choice is to raise prices, discount for cash or get an ATM," says Mr. Scherr, a lawyer who has been in the coffee-shop business for more than a decade. Just two months after one of the most controversial parts of the Dodd-Frank financial-overhaul law was enacted, some merchants and consumers are starting to pay the price. .... That is because credit-card companies used to give merchants discounts on debit-card fees they pay on small transactions. But the Dodd-Frank Act placed an overall cap on the fees, and the banking industry has responded by eliminating the discounts." Nice to see how Washington understands business incentives, and proves why the economy will continue to swim in the sewer as comrade Barack looks for top down solutions to the macro problems. After all, who is better in gauging and directing investment decisions than people who've never had true P&L responsibility in their lives? Link to comment Share on other sites More sharing options...
RkFast Posted December 8, 2011 Share Posted December 8, 2011 I don't disagree with this at all. There were plenty of individuals who were willing to line up for NINA loans knowing full well they couldn't pay them. They deserve to be treated with the same level of disdain that the banks do. I would like to know what the total percentage of the "bubble" this represented though. The difference as I see it is that those dirtbags will eventually wind up homeless. The thieves who made millions on their willingness to take those loans keep every penny they earned. Oh stop. Its not the responsibility of a business to stop selling a product to someone they arbitrarily think MAY be unfit to recevie such product, short of passing credit checks and what not. And in a lot of circles, thats totally illegal. Link to comment Share on other sites More sharing options...
Dante Posted December 8, 2011 Share Posted December 8, 2011 Flogging a dead horse never gets old. A big win for consumers and small businesses? Maybe not. About that fee cap - WSJ "Debit-Fee Cap Has Nasty Side Effect .... A new law that was supposed to reduce costs for merchants that accept debit cards has instead sent Mr. Scherr's monthly processing bills much higher and forced him to reassess the way he does business. "My choice is to raise prices, discount for cash or get an ATM," says Mr. Scherr, a lawyer who has been in the coffee-shop business for more than a decade. Just two months after one of the most controversial parts of the Dodd-Frank financial-overhaul law was enacted, some merchants and consumers are starting to pay the price. .... That is because credit-card companies used to give merchants discounts on debit-card fees they pay on small transactions. But the Dodd-Frank Act placed an overall cap on the fees, and the banking industry has responded by eliminating the discounts." Nice to see how Washington understands business incentives, and proves why the economy will continue to swim in the sewer as comrade Barack looks for top down solutions to the macro problems. After all, who is better in gauging and directing investment decisions than people who've never had true P&L responsibility in their lives? Obama and the left, and established republicans are in the government industry. They don't want to solve problems they just want to manage them. If one regulation they impose solves one problem and creates three more, all the better. Keeps them in business. Link to comment Share on other sites More sharing options...
IDBillzFan Posted December 8, 2011 Share Posted December 8, 2011 Nice to see how Washington understands business incentives, and proves why the economy will continue to swim in the sewer as comrade Barack looks for top down solutions to the macro problems. After all, who is better in gauging and directing investment decisions than people who've never had true P&L responsibility in their lives? Oh, please. EVERYONE knows these merchants are simply using Dodd-Frank as an excuse to raise prices so they can stick it the 99%. Keeping the middle class down. That's what this is about. And there's only one way to fix this and get the economy chugging again: higher taxes on the rich. Link to comment Share on other sites More sharing options...
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