Just before the Labor Day weekend, James and California Attorney General Rob Bonta demanded that Visa, Mastercard, and Discover create a specific merchant category code for sales of guns and ammunition. A week later, she celebrated the International Standard Organization’s requirement for the new code.
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I wandered into the gun shop on the public square in town yesterday afternoon about 1 PM to buy a brick of 22LR and when I went to pay for it with cash, Brett started laughing at me with "I guess you've heard about that credit card bullshit too, huh?"
He told me his credit and debit card sales are down 90% lately and every single one of his sales so far that day were cash transactions.
This will be a win win for customer and merchant. Merchants pay the CC extortion fees to use their services and now NO ONE will ever know what the customer bought with their hard earned cash.
ReplyDeletegoing back to cash buying of anything puts a hurt on banks. they make a lot of money giving you that card. and then there the small amount of money made on interest rates.
ReplyDeletelike millions if not billons of dollars worth each month.
besides, most of the local stores we shop at love it when you pay in cash.
it cuts the bankers out of getting their cut on every sale.
I used to buy firewood from this one guy, he gave me great deals on it because I always
paid him in cash. he told me that. checks are okay, but he has to pay tax on it at the end of the year. cash sales he doesn't report.
pay with cash when buying or getting work done, let them know you going to pay cash and you just might get a better deal on whatever it is you are buying ?
"the small amount of money made on interest rates"
DeleteUm, 20% or more is NOT a small amount.
yes, I know that. they are it every sense the modern loan shark. all the more reason to hate the fuckers. credit cards are a evil trap that make the bankers rich.
ReplyDeleteused to work near a collage and you should all the card vendors set up to give those kids cards. just knowing they going to buy all sorts of crap they don't need on it.
and then get stuck paying 18-25% on it all. yeah, I just love fucking bankers.
Both me and my wife brought credit card debt into our marriage and basically, paying those monthly bills just became a way of life which made it easier to accumulate even more credit card debt.
DeleteWe finally got them all paid off at the beginning of the year and I cannot tell you how good it feels to be debt free. I kept one card with a $14,500 credit limit for emergencies and I buy something small (20-30 bucks) with it every couple months to keep it active, and pay it off in full as soon as it posts to avoid interest.
WC, that's exactly how I use my credit card. Bankers hate us.
DeleteI’ve got all my household bills in one credit card...
ReplyDeleteI pay that card off every month and collect the cash back...
My 2nd card is my gas, groceries, and junk card...
I pay the 2nd card off every month and collect my cash back...
I also keep 2 more cards stashed away for emergencies...
Good luck... we’ll all need it.
Ed357
I am what the credit card issuers refer to as a, "deadbeat" which is someone who pays their balance off in full each month and accrues no interest charges.
ReplyDeleteI have several cards which I carry and use each in different ways depending on the percentage of cash back. Since I have a credit score of around 817, I can get just about any card I want. The key is to not accrue more charges in a given month than you can pay off in full when the bill comes due. I know, easier said than done.
Cards I carry:
AE- This is the only card I carry with an annual fee which is now $95, but I get 6% back at all grocery stores and 3% on several other categories and 1% on all others. I usually get around $350 or so back per year, so it pays for itself.
AAA -Visa - I get 3% back on car insurance and travel expenses,1% on all others. I don't use this one a lot, but will if I have to make a large purchase that is more than I can pay off in one month because the interest rate is much lower than the others, currently 7.1%.
Amazon - Chase - I get 5% back on all Amazon purchases, which I apply to future Amazon purchases. Don't use the card for anything else, and don't even carry it in my wallet.
Costco - Citi - 2% back on all Costco purchases, 4% on gas, 3% at restaurants, so it is used for those purchases.
I also try to use cash on a regular basis for small purchases such as lunch, but probably only use $40-50/ week most of the time. Basically, anything under $20 I pay cash. I carry a debit card from my credit union which is used exclusively to get cash out of the ATM's at Publix which doesn't charge a transaction fee.
I usually buy most of my ammo online from places like Norma and Freedom Munitions and other deals I find using Ammoseek and have used the AAA Visa for those purchases. Not sure if I'll continue to use a CC for those purchases or not right now. I might be calling them to see if they'll take a money order or cashier's check in the future.