Posted on 03/06/2008 2:42:54 PM PST by hardknocks
bfl
Simple I don’t have a credit card. I use my debit card and just spend what I realistically can.
It is a free market. I chose not to use them.
Sorry, this is stupid government regulation.
You miss the point. Retailers are being charged for the privilege of accepting credit cards in the US more than any other country. The true cost is passed on to consumers be it cash, credit or debit.
well, most people find credit cards useful.
I use cash and debit.
It’s not the purpose of the government to think for the people or play nanny. These are adults, if they’re stupid, that’s their problem.
Sounds like “anti-boilerplate” legislation. So far, OK by me.
Surprisingly it looks like there is bipartisan support on this issue.
Yeah, somebody's making money on this and government doesn't think it's getting a big enough cut of the action.
I think that’s why people are jumping on this.
Well that's nice for you, but what about those of us dumber than a bowl of mice who go out and spend with shocking irresponsibility, the thought of actually making good on the debt we run up never occurring to us, buying un-needed and un-wanted items on a whim or to satisfy some momentary impulse.
What about us I say!
There must be some way for us to pass our burden off to the responsible members of society, and Cannon and Conyers are just the folks to do it. Control the credit card companies fees, have them raise the rate they receive from retailers and pass the increase along to everyone.
It's only fair.
Owl_Eagle
If what I just wrote made you sad or angry,
it was probably just a joke.
And if it weren’t such a valuable service, no one would bother to pay for it.
Consumers are charged more for Milk in the US too. Maybe more regulation in that industry would help consumers too. Oh wait, never mind...
eeeeewwww!
Gosh, so sorry..guess I am just soooo lame. I use credit cards and when I was in a crunch they helped a lot. Guess I am just not so brilliant as those who “NEVER” use credit cards.
Reminds me of the “ I never watch TV “ snobs.
Ok, now flame me.
The merchant effectively pays the same interchange fees on your debit card transactions.
No - I think you’re missing the point. The government isn’t getting anything out of this - the point is that the credit card companies have been taking huge bites out of small businesses’ profits for years which has forced them to raise prices which has hurt consumers. The point of this is to rein in their to this point unregulated practices. You have to admit that the credit card companies have a tendency to go overboard with their fees.
A credit card is optional, people sign a contract that spells out the terms, and the people choose to spend the money. Now some government bureaucrat wants to “save the stupid people” of this nation with another law. Don’t confuse this with all the other spotted owls, whales, or planet we’re trying to save. Democrats save the environment, Republics the economy and BOTH are for the “middle class.” Politicians are always on the lookout for some theme that hits the cord of the masses, no matter how stupid.
But thank God they opened up with the statement that they believe in capitalism and free trade, yadda, yadda, yadda. That’s like saying I have a friend that’s black but........ I have a friend that’s a Jew, but....... Give me a break, don’t piss on me and tell me it’s raining. It’s more government intrusion, more regulation, more controls on financial activities.
I’ve worked with several companies regarding this sort of thing. When we implemented a debit card processing project, part of our testing (which found serious bugs, btw) was to verify we were being charged the correct interchange fees for the correct transactions.
Heck, the reason we were adding the specific debit functionality was because the fees are much lower on debit cards.
Card-not-present debit transactions are SERIOUS money savers for utilities, schools and government agencies. For large companies, it can save millions EVERY YEAR.
Any business is perfectly free to NOT offer their customers credit card privileges. Cash only. Or check only. Or both.
>>Gosh, so sorry..guess I am just soooo lame. I use credit cards and when I was in a crunch they helped a lot. Guess I am just not so brilliant as those who “NEVER” use credit cards.
Reminds me of the “ I never watch TV “ snobs.
Ok, now flame me.<<
Heh,heh. I haven’t had TV since ‘97. But if I were a sports fan it would not have been possible.
We all have our own temptations to deal with. A promiscuous heterosexual male has nothing to be proud of compared to a flaming practicing homosexual cross dresser. They are both giving into their particular temptation/sin.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.