Retailers point of view

congaman

You got to remember that these card companies make most of their money out of the retailers who accept the card through transaction charges, not from interest from late payers. Retailers often pay up to 2.5% on your transaction. Just cut up your credit card and use debit instead and stop lining the pockets parasitical bankers. In the long run it will reduce costs for us all.

Fruit_and_Nut_Case

congaman wrote: »

You got to remember that these card companies make most of their money out of the retailers who accept the card through transaction charges, not from interest from late payers. Retailers often pay up to 2.5% on your transaction. Just cut up your credit card and use debit instead and stop lining the pockets parasitical bankers. In the long run it will reduce costs for us all.

Welcome to MSE :wave:

Thank you for your unsolicited advice which I do not intend to follow.

[Deleted User]

I could do. But I'd sure miss my cashback. And my section 75. And my interest free period. And my 0% offers. And my various other rewards. And the ability to hire a car.

Oh, OK then.

grumbler

Retailers have no obligation to accept credit cards. I they do they certainly benefit from this because of the bigger turnover. Most Aldi stores decided that they didn't benefit and hence don't take CCs.

PeacefulWaters

congaman wrote: »

You got to remember that these card companies make most of their money out of the retailers who accept the card through transaction charges, not from interest from late payers. Retailers often pay up to 2.5% on your transaction. Just cut up your credit card and use debit instead and stop lining the pockets parasitical bankers. In the long run it will reduce costs for us all.

Get lost. Credit cards are a massively convenient way to manage my finances and earn cashback.

Don't accept credit cards if you don't want to. I'll shop elsewhere though.

Fruit_and_Nut_Case

grumbler wrote: »

Retailers have no obligation to accept credit cards. I they do they certainly benefit from this because of the bigger turnover. Most Aldi stores decided that they didn't benefit and hence don't take CCs.

Ah yes. I remember that 68 page thread.

grumbler

PeacefulWaters wrote: »

Get lost.

Waters not that peaceful. Bad mood?

gunsandbanjos

Sure random man on the internet, I'll get right on that, off to cut up my cards now...

redpete

congaman wrote: »

You got to remember that these card companies make most of their money out of the retailers who accept the card through transaction charges, not from interest from late payers. Retailers often pay up to 2.5% on your transaction. Just cut up your credit card and use debit instead and stop lining the pockets parasitical bankers. In the long run it will reduce costs for us all.

Or the retailer could also ignore the benefits (less cash to handle, not losing customers who want to use CCs) and refuse to take CCs.

Anthorn

congaman wrote: »

You got to remember that these card companies make most of their money out of the retailers who accept the card through transaction charges, not from interest from late payers. Retailers often pay up to 2.5% on your transaction. Just cut up your credit card and use debit instead and stop lining the pockets parasitical bankers. In the long run it will reduce costs for us all.

We need to go further than that: Dump cards altogether, stop this ever rapid onward march towards the cashless society and start using Sovereigns and Guineas again. c.f. David Icke

jonesMUFCforever

I will vote the OP's post the most useless post of the week so far!
Could be a spammer collecting e mails.