On Monday, May 13, 2002, at 05:01 AM, Ken Brown wrote: > "R. A. Hettinga" wrote: > >>> The reason we have ready availability of credit in the first place >>> is because consumer debt is the most profitable business in the >>> United States. >> >> I really wonder what component of this market is actually payment >> driven. After all, to easily buy *anything* over, say, $100 right >> now, you have to borrow money, use a credit card, to do it. > > ? > > I use a debit card, one that draws against my bank current account the > way a cheque does (probably "check" to you). It's the same card that is > used as a cheque card. Lots of purchases over $100. I've bought a > miniature video camera with it, maybe 1500 dollars US. > > Still involves merchant charges of course. As far as they are concerned > it is no different from a credit card. The cashier at the till probably > doesn't even know the difference (after all it says "Visa" on it). >
I used a VISA debit card to buy a $25,000 Ford Explorer. --Tim May "Dogs can't conceive of a group of cats without an alpha cat." --David Honig, on the Cypherpunks list, 2001-11
