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From: dan@hp-lsd.HP.COM (Dan Schmelzer)
Newsgroups: comp.sys.amiga
Subject: Re: re:  Credit cards and UUCP
Message-ID: <7470006@hp-lsd.HP.COM>
Date: 19 Jan 89 23:57:24 GMT
References: <0183.AA0183@caleb>
Organization: HP Logic Systems Division - ColoSpgs, CO
Lines: 29

> / hp-lsd:comp.sys.amiga / jdp@caleb.UUCP (Jim Pritchett) /  4:44 pm  Jan  8, 1989 /
> 
>      Please excuse me for continuing this side trip away from the real topic
> of this group (i.e. AMIGA.)
> 
>      By the way, even if you can still find a 30 day, no interest, no annual
> fee credit card; the major card companies (i.e. MasterCard, Visa, American
> Express, etc.) keep a percentage of the charges.  This means that the retailer
> must raise his prices to compensate for the 'lost' income.  So, even if you
> get it for 'free', it is NOT free!!!  The credit card companies can get up
> to 4 or 5% of the amount charged.  I believe that the actual percentage can
> vary significantly depending upon the institutions involved and the monthly
> dollar volume of charges the retailer has.

I have a 30 day, no interest, no fee, Visa Classic card with a several
thousand dollar credit limit from some bank in Chicago.  The fine
print (after translation) reads that the 30 day grace period disappears
if you don't pay in full every month.  So for the typical consumer who
may not keep the card paid up, a hefty interest charge is applied.  But,
if you pay off charges on the card like you would for, example,
American Express, you get the service for free.

Although a retailer will pass on his/her credit card service costs with
higher prices, almost every retailer is doing so (no competitor with
lower CASH ONLY prices).  Therefore, if I don't use a credit card I
lose because I still pay for the service but don't get the convenience
of a credit card transaction.

	Dan "no interest charges on MY monthly statements" Schmelzer