Credit Card Fees

[Bigboobbabe]

I grew up in the 70's and remember the recession with gasoline rationing, etc.
I graduated HS and College in the 80's. Getting a shiny new credit card was the first sign you made it as an adult.

In the 1990's, I carried a checkbook, cash, debit card, and credit card everywhere I went. Different stores had different rules, and being prepared was required.

There was a time when the goal was to go cash-free. All banking would be done with plastic cards (debit or credit) with PayPal in its infancy.

Shopping now is a throwback I would rather throw away.

I spent almost $2K at the service department for my car.
My first thought was all the Disney reward dollars this would earn. I was pumped.
Then the cashier informed me there was a 3% fee for using a credit card. These fees used to be paid by the business to encourage immediate, guaranteed payment.
Any way I did the math, the credit card fees crushed the reward dollars.

The cashier asked if I had a check or debit card to use instead. I prefer not to use my debit card because a hacker can drain my accounts in a split second. Checking, savings, business checking, business credit card.
When I use a credit card, my money is not tied up during the investigation, just my ability to use that card at that moment.

I don't carry a check book, and I refuse to pay 3% or nearly $60 for the security. I used my debit card. And now I am open to fraud.

I stopped carrying cash and started tipping with Venmo and Zelle. Now the recipients are being charged and taxed on income. I am OK with true income being taxed, but my daughter repaying a full semester tuition I fronted her is putting me at risk for an audit on unclaimed income.
We don't live together. It's crazy for her to be relegated to writing checks and mailing them so I don't get audited over $3K a year.

We are moving backward in risk and liability when it comes to our money. It's a huge setback and totally unnecessary.

Don't get me started on service and grocery costs.

 

[jaF0]

I keep checks because I have several small businesses that don't take cards.

But there are a couple of places that add card fees and don't take checks. So it's cash or no business.

Government offices add card fees, so if you want to pay your plates or OL, it's check or cash.

Joe's been nuking a lot of 'junk fees'. These card fees need to go. But if the card fees go, so will the rewards, points, bonuses and so on most likely.

 

[Chernosoth]

I try to use cash as much as possible. I specifically avoid outdoor gas station card machines, which are more likely to have card skimmers. I do a little bit of additional protection by having my savings split in accounts at two credit unions. But I am a guy, so my money and card are always in my pocket, preferrably a zippered or velcroed pocket. I don't carry a purse full of valuables for convenient theft. I never had a credit card.

 

[Bigboobbabe]

I live in NJ where we don't pump our own gas, or swipe our own cards at the pump.

When I travel for work, I feel very vulnerable standing outside my car pumping my gas.

I only go places where cash and credit are the same price. And again, never use my debit card.

I use my Visa as a tracking of where my money goes. And when it has been hacked or duplicated, whatever they have done, I have no penalty, and a new card overnight, including Sunday delivery. They want to be sure I spend on it.

 

[Chobham]

I live in NJ where we don't pump our own gas, or swipe our own cards at the pump.

When I travel for work, I feel very vulnerable standing outside my car pumping my gas.

I only go places where cash and credit are the same price. And again, never use my debit card.

I use my Visa as a tracking of where my money goes. And when it has been hacked or duplicated, whatever they have done, I have no penalty, and a new card overnight, including Sunday delivery. They want to be sure I spend on it.

Move!

 

[RoryN]

 

[Bigboobbabe]

That was funny.

 

[Bigboobbabe]

Impressed that NJ still doesn’t let drivers pump gas.

Oregon was with us until CoVID. They went pump-your-own for contactless encounters.

 

[Chobham]

No surprise NJ is the last holdout - “Liberty and Prosperity (except to pump your own gas)”

Should be optional.

"Can I pump you mam"

"No, I can pump myself."

 

[Bigboobbabe]

Should be optional.

"Can I pump you mam"

"No, I can pump myself."

I wouldn't have to pump my own if there was a man offering to pump me.

Twice per week... I would feel my age very quickly.

 

[JohnnySavage]

Debit card is all I ever use. I rarely have any cash on me, and haven't had personal checks in years. I don't think I've had a credit card in over a decade.

 

[LLCox]

I grew up in the 70's and remember the recession with gasoline rationing, etc.
I graduated HS and College in the 80's. Getting a shiny new credit card was the first sign you made it as an adult.

In the 1990's, I carried a checkbook, cash, debit card, and credit card everywhere I went. Different stores had different rules, and being prepared was required.

There was a time when the goal was to go cash-free. All banking would be done with plastic cards (debit or credit) with PayPal in its infancy.

Shopping now is a throwback I would rather throw away.

I spent almost $2K at the service department for my car.
My first thought was all the Disney reward dollars this would earn. I was pumped.
Then the cashier informed me there was a 3% fee for using a credit card. These fees used to be paid by the business to encourage immediate, guaranteed payment.
Any way I did the math, the credit card fees crushed the reward dollars.

The cashier asked if I had a check or debit card to use instead. I prefer not to use my debit card because a hacker can drain my accounts in a split second. Checking, savings, business checking, business credit card.
When I use a credit card, my money is not tied up during the investigation, just my ability to use that card at that moment.

I don't carry a check book, and I refuse to pay 3% or nearly $60 for the security. I used my debit card. And now I am open to fraud.

I stopped carrying cash and started tipping with Venmo and Zelle. Now the recipients are being charged and taxed on income. I am OK with true income being taxed, but my daughter repaying a full semester tuition I fronted her is putting me at risk for an audit on unclaimed income.
We don't live together. It's crazy for her to be relegated to writing checks and mailing them so I don't get audited over $3K a year.

We are moving backward in risk and liability when it comes to our money. It's a huge setback and totally unnecessary.

Don't get me started on service and grocery costs.

I would never have a debt card. You are just asking to have your bank account wiped out. How stupid are you to not carry enough cash for emergencies or for a bill you are going to have to pay that day and might need cash. . I always have four or five one hundred dollar bills in my wallet.
You all had better start using cash when you can or CBDC will enslave you. None of you believe me but you will when you are told what you can buy and when. And when your money is frozen because of something you said online you will get the picture that you are a slave. If you do not know what CBDC is I suggest you find out PDQ.

 

[jaF0]

I don't think I've had a credit card in over a decade.

I get too much in points/rebates/rewards/bonuses to not have and use CCs. I pay almost everything that way including utility bills.


I very rarely have more than $40-50 in cash on me.



Weird thing. I logged in to one of my banks last week for a different reason and found three small charges, total about $25 from a website I've never heard of. They were on the debit card for that account. I've never used that card anywhere on the web and only once at an ATM mounted on the wall of a branch about six months ago. No idea how 'they' got the number. I don't even have that number recorded with my other cards since I never use it. Filed a claim using the bank's web form (that also cancelled the card and issued a new one). Checked this morning and the funds have been credited ... less than three business days. They say a letter should come in the mail in about 10 days.

 

[One_ping_only]

I live in NJ where we don't pump our own gas, or swipe our own cards at the pump.

When I travel for work, I feel very vulnerable standing outside my car pumping my gas.

I only go places where cash and credit are the same price. And again, never use my debit card.

I use my Visa as a tracking of where my money goes. And when it has been hacked or duplicated, whatever they have done, I have no penalty, and a new card overnight, including Sunday delivery. They want to be sure I spend on it.

My biggest pet peeve is being charged an extra 10 cents to 75 cents even for using my darn card than cash. It's the same service and gas aaaaaad before businesses would not charge extra for using a card though nowadays who knows what they're doing??

I have a sense of accomplishment when I pay cash and after filling up 15 gallons I'm saving a Happy Meals cost for simply handing over a wad of cash. It's the only time I use cash tbh.

 

[jaF0]

Maybe you're using the wrong card(s).


I get a 15 cent per gallon discount using one card and 5% off the total using other cards.

 

[Chernosoth]

Credit card corporations are loan sharks with better PR. The scams they run won't end well for them or us.

 

[Bigboobbabe]

I would never have a debt card. You are just asking to have your bank account wiped out. How stupid are you to not carry enough cash for emergencies or for a bill you are going to have to pay that day and might need cash. . I always have four or five one hundred dollar bills in my wallet.
You all had better start using cash when you can or CBDC will enslave you. None of you believe me but you will when you are told what you can buy and when. And when your money is frozen because of something you said online you will get the picture that you are a slave. If you do not know what CBDC is I suggest you find out PDQ.

As a single female who travels in state and out of state for work, I don't like carrying large amounts of cash on my person.
I stash some for a brief emergency.

And locked in a safe at home.

The security of Chase Visa is amazing. But an extra $59 on a car maintenance bill of almost $2K is ridiculous.
My rewards would have been $20.

 

[Bigboobbabe]

Maybe you're using the wrong card(s).


I get a 15 cent per gallon discount using one card and 5% off the total using other cards.

And I have only paid interest about 5 times in 30 years of Cc usage.

The last 2 were stupid. I had 6 months, no interest on a trip. That messed me up on the balance due for the month.
Completely my fault.
Company forgave 1 month and helped me with payoff of trip so I wouldn't have the same confusion.

Forgiving all the interest would have been nicer, but since it was my fault, I am happy with any and all kindness.

 

[jaF0]

^^^ You really have to watch that. I did a $3,500 purchase at a Big Box store. No interest if paid in full within 24 months as long as you paid at least the minimum each month. If you missed one, or the final payoff, you got back billed for the full interest amount, something like $1,100 or so. Not trusting their definition of 'within 24 months' I made sure to have it paid off in 23.

 

[Chobham]

I wouldn't have to pump my own if there was a man offering to pump me.

Twice per week... I would feel my age very quickly.

*chuckle*

The vendor processing fee has always been part of your bill, generally not so overtly though. If the service/product provided was 3% or more below the competition then all is well, you at least broke even.

A suggestion for everyone, always tip a waiter/waitress in cash. The CC company and their processor didn't provide you any service whatsoever so why should they rake in a percentage?

 

[Chernosoth]

Traveler's checks still exist. I haven't used one yet, since I don't travel much.

 

[Chobham]

The more I think about it the more I appreciate what the dealer did. It's up front about how the real world works, to the point that everyone should do the same. people are getting charged some x amount of interest on the unpaid balance but they don't see the x interest they're being charged on top of the account interest. It's a valuable lesson for those that take the time to learn from it.