Anonymous, Sorry for the massive insult of callin...

2009-12-02T15:09:31.446-05:00

Anonymous,

Sorry for the massive insult of calling you a Lawyer--I know there aren't many things worse to call a person. I got fired up that you were nitpicking around the edges instead of addressing the heart of the issue. My cardmember agreement does not have a signature line--I just seem to get one every 6 months or so with a notice that they are raising my interest rates.

Whoops - that should have been "could NOT see the ...

2009-12-02T14:13:21.261-05:00

Whoops - that should have been "could NOT see the benefit in paying fees at hair salons."

Carry on. ; )

@All - thanks for all the comments. I hope you d...

2009-12-02T14:04:30.888-05:00

@All - thanks for all the comments.

I hope you don't mind, as blog owner and de facto moderator, if I try to redirect and refocus the conversation a bit.

I thought of an interesting example today as I cut and colored my own hair. I'm no longer able to afford to go to the salon. Now, while hair coloring is not a service everyone needs, haircutting is. You have to get

CommonSense, I am not a lawyer nor do I work for ...

2009-12-02T13:31:03.484-05:00

CommonSense,

I am not a lawyer nor do I work for a credit card company, not that that would have any bearing. Check on that thirty page cardmember agreement, do you see any signature there? If you found the agreement so distasteful and unjust, why did you sign it? Also, I don't believe that 'force' means what you think it means.

Anonymous (i.e., Lawyer from Visa or MasterCard), ...

2009-12-02T13:09:40.737-05:00

Anonymous (i.e., Lawyer from Visa or MasterCard),

I am referencing the Constitution of the United States whose purpose is to "establish justice," "promote the general welfare," and "offer equal protection under the law." The current model harms consumers and small businesses and unjustly penalizes small businesses and the poorer citizens of the United

Betsy, This comment is puzzling, "It's hard to m...

2009-12-02T12:48:03.143-05:00

Betsy,

This comment is puzzling,

"It's hard to muster sympathy for financial institutions when they've been raking it in with no impunity."

(I'll assume you meant 'with impunity' not 'with no impunity'.) So, for what should they be punished?

The reason they are not impugned is because they are 'raking it in'

Common Sense above points out that there are addit...

2009-12-02T11:32:22.409-05:00

Common Sense above points out that there are additional fees per transaction aside from the clearing fee, which is assessed every time you "close" a day's worth of sales via electronic transfer. Other hidden merchant costs include a monthly minimum from the processor, which is assessed when you come under an arbitrary number of transactions, as well as upcharges for certain types

I understand being torn because it is a complex is...

2009-12-02T09:59:38.382-05:00

I understand being torn because it is a complex issue, but let me advise you of a couple of more facts and then ask you a couple of reasonable questions: FACT: Mom and Pop Retailers lose money when you come in and buy a candy bar or a newspaper on a credit or debit card--the fees they have to pay for that transaction exceed the small profit they make. They would be better off if they just gave

Like you, I'm torn between the understanding that ...

2009-12-02T09:00:15.437-05:00

Like you, I'm torn between the understanding that using plastic (in any form) is a convenience and that businesses pay through the roof for the transactions. Often times, there is a per-transaction fee in addition to the percentage of total sale.

Technically, a business putting up a 'credit card minimum' is violating the merchant agreement between them and the credit card

Comments on Quiet the Thunder: In Which I Am Legitimately Baffled, From an Ethica...