Visa deals with possible data breach

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You pay for every purchase, up front

In the "merchant fees" the credit card companies get from the place that takes your card. You pay higher prices overall at every place that is not cash only. Some very low margin businesses will give a 2-5% discount for cash which represents at least what VISA is taking. Most don't because having large amounts of cash on hand makes their business a robbery target, so the middle man of the credit card companies is safer for them two and far less risk than taking personal checks.

Not paying in full every month is pure gravy to VISA -- even Lenny the Loan Shark has trouble getting 21% APR.

To me, the higher prices overall are worth it for the safety instead of carrying large amounts of cash and I gain protection from on-line ripoff vendors -- on several occasions I've used the Credit Card "tactical nuke" of charge back when I've recieved defective or not as described items.

As bad as identity theft is, its a lot better than cashing your paycheck and then getting robbed on the way home.

--wally.

Posted by: wkulecz   Posted on: 12/28/05 You are currently: a Guest | Members login | Terms of Use

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