Posted on 12/10/2022 4:20:23 AM PST by EBH
One of them. True.
Interesting.
Not true at all.
Many use them for convenience and auto-pay the entire balance every billing cycle.
We have been using credit cards for years and paying them off in full every month. So we get their benefits (cash back or airline miles) without it costing a penny.
But even with that incentive, we’ve been migrating back to cash transactions for all but online purchases.
In other words Chase may decide they won’t pay for your gun purchase from licensed gun shops?
Isn’t this a debit card? Don’t see the advantage to this. We already have it.
The “advantage” isn’t for you...it’s for the bank.
True so my Amazon card will be no more. Well Amazon it was nice knowing you.
We dumped our bank of many years when it tried to make use a debit card.
We don’t want one.
The consumer protections for debit cards are much weaker than for credit cards.
Bet it’ll be the same with this arrangement, too.
I use Chase card for my Amazon purchases. They give you a certain percentage back on future Amazon purchases for doing do. Guess that will stop.
Debit card transactions fall under the network they use.
Credit cards aren’t going away. No one is going to rid themselves of $5 billion in revenues. This is all back end stuff. The Visa network will get hurt. Chase won’t.
NO.
If you do not see the advantage to this, you have not done enough research. This is setting up for the new currency system.
As to how this is a benefit I recall an old dilbert comic wherein catbert the evil HR boss was chatting to the employees about the new benefit program. One employee asked if that meant they would get more benefits. Catbert said you must be new here! IOW when dimon says this is happening it does not mean any customer will do better. He is one of the principal criminals responsible for the 08 financial meltdown who had no personal repercussions.
You can bet there will also be an instant realtime fee per transaction.
...and it would appear that the we the customer will pay that fee rather than the benefiting business. Genius plan, in the eyes of big business.
Or perhaps a fee on both ends, customer and business. Double genius.
New?
It sounds like a debit card to me.
“Or perhaps a fee on both ends, customer and business.”
Yep, absolutely, bet on it...
I’m talking consumer protections.
That’s why we don’t have or want a debit card.
And I’ll wager the consumer protections for this latest cluster won’t be any better.
Many years ago, when I was young and poor and credit card transactions were processed manually, I would buy something stupid on credit and then return it later in the day for cash. Today, we have five branded credit cards that are tied to American, Delta, Marriott, Southwest, and United, which we use for the travel points and pay in full every month. We have not incurred a late fee or interest charge in over 30 years, but we have over a million travel points that we use to visit our children and grandchildren.
Probably true in many cases. The article also points out the use of the "float".
"Consumers also have the added benefit of the credit card float, where you can make a purchase today and pay it back later."
Another use of the a card is to generate the bennies. We just replaced our multilevel HVAC systems to the tune of $25,000 (Merry Christmas). I was astounded when the HVAC company said we could pay it with a charge card. Put that sucker right on the airmile card. It'll be paid off by direct draft when the charge card bill rolls around January 20, 2023.
I could've written a check...even done a direct pay from the checking acct to the HVAC company, but this way, I've got two roundtrip flights to Charlottesville VA for the wife to visit her grandkids.
The way they can with your credit card?
You mean no more spending money you haven’t got? That takes all the fun out of credit. What else is it for?
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