Political Discussion

RenegadeMonster said:
There was a period of time that in areas of the United States it was illegal to have a different price for cash. That seems to be largely non existent anymore.

But seriously, is the Barber Shop getting changed $7 in fees for me to use my debit card? I highly doubt it.
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Debit card fees are higher than credit card fees. Also a lot of businesses that are card reluctant, such as barbers, were forced into it during the pandemic. They don’t have the volume to actually sign up with an old school merchant because of the volume of transactions so they tend to use the newer tech solutions that hook up to mobile phones/tablets. The merchant fee, on top of the visa/mastercard handling fee, is much higher on them. It might not be $7 but equally that might not be an unfair charge in general for it. A lot of these business I interact with word of mouth would love to dump cards but the world has gone too far the other way the last 2 years.
 
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nolalady said:
The problem here is that credit card companies make vendors pay 3% on every transaction so in many cases, if a vendor has a tight margin, they could be losing money. What often happens is that vendors have to charge more (aka inflation) when they don’t want to to offset the cost of accepting credit cards. People who pay with cash and debit cards are ultimately going to pay more so that people with credit cards can get sky miles or cash back—that is, of course, lower than their vendor fees.

Credit cards are rather insidious for running many small businesses out of business during the pandemic because of increased fees—largely for more profits. And small businesses demanding cash only is their only way to fight back against excessive fees.
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I was thinking about this mostly because I’m thinking of moving from a debit card to credit card and using the cash back to fund another investment. My thought was what incentive do cc companies have to give you cash back even if you pay the full bill every month. It’s the transaction fees. It’s such a scam. As I get older and look into credit more CC are such a shitty way to finance things. There are so many better ways.
 
Joe Mac said:
Debit card fees are higher than credit card fees. Also a lot of businesses that are card reluctant, such as barbers, were forced into it during the pandemic. They don’t have the volume to actually sign up with an old school merchant because of the volume of transactions so they tend to use the newer tech solutions that hook up to mobile phones/tablets. The merchant fee, on top of the visa/mastercard handling fee, is much higher on them. It might not be $7 but equally that might not be an unfair charge in general for it. A lot of these business I interact with word of mouth would love to dump cards but the world has gone too far the other way the last 2 years.
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Yea I pay my barber through a direct transfer through my bank (Zelle) and my copay for my therapist on Venmo.
 
Dtknuckles said:
Yea I pay my barber through a direct transfer through my bank (Zelle) and my copay for my therapist on Venmo.
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I think my new barber takes these options as well. But you don't get the cash price. You would pay the same as if you were using cash. I think it's because it has to go through their POS platform. Not sure if it's Square or something similar. Now that I think about it, there are likely higher fees there than credit card transaction fees.
 
Bull Shannon said:
This was pretty cool to see:

I'm guessing there's going to be some dumb bubble-bursting moment, like they can only do this for the primary ballot and it's effectively meaningless.
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Yeah I’m wondering who this will hear the appeal that will be filed. The US Supreme Court? If so, this thing is likely dead.
 
Sonicpharmacist said:
Yeah I’m wondering who this will hear the appeal that will be filed. The US Supreme Court? If so, this thing is likely dead.
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I wouldn’t write this off too quickly. Lots of interesting subtleties such as Justice Gorsuch, then on the Colorado (edit: Appellate) Supreme Court, ruled on a similar case here that it was entirely legitimate to ban a candidate from the ballot for similar actions as Trump has taken. Stay tuned!
 
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OMC said:
I wouldn’t write this off too quickly. Lots of interesting subtleties such as Justice Gorsuch, then on the Colorado Supreme Court, ruled on a similar case here that it was entirely legitimate to ban a candidate from the ballot for similar actions as Trump has taken. Stay tuned!
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Gawd I hope so! Really hard to be optimistic about this becoming a reality….but I do think it could be the one thing that actually sticks.
 
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