Archive for the 'merchant account' Category

Debit Card

Friday, November 24th, 2006

The time has come to reveal the truth and lies about Debit Cards and Credit Cards.  I have remained silent for too long.  I have maintained a silence for months as I thought this would not be the forum to share the news about the rip off being conveyed against us hard working people by the merchant account non-profits of Visa and Mastercard.  I thought it was in the best interest of California Home Loan and Best Rates Available and all that good stuff that goes into learning about mortgage brokers and real estate agents and Libor and all the other good stuff that helps get the best mortgage rate.  But enough is enough.

The commercials on the NFL Thanksgiving Day football games where Visa makes it look so nice to use their Visa card instead of paying by cash.  Well it is cheaper to pay by cash than to use a Debit Card, even though they are both CASH EQUIVALENT transactions.  Under the rules and regulations of Visa and Mastercard, merchants are allowed to charge a transaction fee to the Buyer (you and me) each time the Debit Card is used to make a purchase.  Buying gas today is a rip off, except from Costco, as far as my purchasing of gasoline is concerned.  Shell charges $1.00 to use a debit card; Cheveron charges $1.00 to use a debit card.  Mobil charges $1.00 to use a debit card.  Costco charges $0.00 to use a debit card.  Who you gonna buy gas from (Ghost Buster music plays in the background)?

There is only one thing for us to do - boycott businesses that charge for using debit cards.  I am already boycotting an Italian restaurant that thinks its name that involves the heavens is too good to go straight up when taking your money.  They charged a fee for using the debit card and then reserved an additional 25% in authorization to tie up additional cash money from account just in case I wanted to add a tip to the debit card.  I do not tip using my debit card - I use cash.

Let’s get it together people and begin to send a message to merchants.  We want the debit card fee waived or we are not going to do business with them.  If enough of us begin to talk about this and back up our talk with action - we will get these $1.00 charges dropped.  ARCO - $0.45 service charge for the debit card.  Buyers Always Beware. 

See Ruthie at Home Staging Thousand Oaks or Mark Smith at Thousand Oaks Real Estate Talk to Sid at Animal Actors or Terry at Commercial Loan Acquisitions.

    • Posted in California Home Loan Rates, Debit Card, Credit Card, merchant account | No Comments »