Banks _Love_ it when their customers use debit/credit cards instead of cash! They make so much from both parties in the transaction - two revenue streams to tend; fees all around!
Chris, those 70's comparisons certainly didn't include charge-backs on the cards. Most of us who still write checks for most purchases (say 20-30/month for a single-user personal account) are less likely to bounce checks than the large numbers using them in the 70's. I opened my account over 30 years ago and have never bounced a check. I use plastic in the few large merchant stores I visit, buying on the web, travel and in urban places. I use checks out in the rural area I live in, where many people know me. Merchants in some places still like to get paid in cash or check because the risk of a bad check is cheaper than the fees they pay for the plastic. Other places, not so much, because the risks are different. Thank you, Mark Snyder -----Original Message----- This is true, but not the whole story. Checks aren't free either: some percentage of them bounce, and we have to pay for that too. This isn't an issue with credit card purchases. When I worked for a bank back in the 70s, we had statistics proving that the credit card discount rate was actually less than the check loss rate. I don't know if that's still true, but it certainly was back then. ************************************************************************* ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *************************************************************************
