Hi Dick, This is becoming off-topic for the bn list, but I'll try to make it as brief as possible, see answers worked in between your questions in your message beneath:
Mr. Riana, Thank you for the explanation. The reason I am asking is that I used my credit card when I bought gasoline in the US. The price of gasoline was the same, no matter if it was paid for by cash, check, or credit card. Then, when I would rent a room or buy food or anything, I always used my credit card. I was never charged extra for using my credit card, I checked the purchase against the deductions from my credit card. If Visa, my credit card company, charges the store 3 percent of the purchase price, then the store would make 3 percent less on my purchases. Therefore, why would the store allow purchases to be made by credit card? A: Because cheques can bounce and is not credited to the beneficiary immediately, while credit card purchases are. Also it is more dangerous, definitely in my country, for people to walk around with large amounts of cash, as people are often mugged, especially in the cities and lastly: beneficiaries has to pay still higher bank fees on depositing cash into bank accounts, it being a security risk. That is why many companies take that percentage into account when they establish their purchase price and can either score on cash payments, or decide to provide discount to cash customers. The only time the Visa company charges me money is when I go more than 30 days without paying off my account. A: Yes, but that is interest on the overdraft of the amount, charged by the financial institution, which is also relevant on other loans, or overdraft facilities on cheque accounts and is between you and the financial institution, not the beneficiary of your purchase. Riana van der Walt - [female] Dick Myers From: "Van Der Walt Riana" <[EMAIL PROTECTED]> Reply-To: Braillenote List <[email protected]> To: <[email protected]> Subject: [Braillenote] Credit card purchases Date: Thu, 10 Mar 2005 09:09:10 +0200 Dear List, Banks charge companies who uses their facility to provide the option of credit card convenience to such company's customers. The percentage differ, but in South-africa it's five percent of the purchase price. This is a total different issue from interest. Hth Riana ___ To leave the BrailleNote list, send a blank message to [EMAIL PROTECTED] To view the list archives or change your preferences, visit http://list.pulsedata.com/mailman/listinfo/braillenote (8):[(8) ___ To leave the BrailleNote list, send a blank message to [EMAIL PROTECTED] To view the list archives or change your preferences, visit http://list.pulsedata.com/mailman/listinfo/braillenote
