Quote:
Originally Posted by Ecuadog
I use credit cards for everything I can, without getting charged fees.
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That is the new way. It is actually a recent change. It is no longer legal to offer a cash price. Of course everyone is honest and pays tax on every penny-ok to laugh now. I asked a friend, who used to have a retail store about this, very few people pay cash. You must take credit cards and the retailer pays a charge to the credit card company for every transaction plus a percentage of the bill. That of course comes out of profit.
This lessens what used to be called the underground economy as well as what I used to call suitcase money-people with quantities of un-taxed money.
Today, it has exploded. Stores offer their own credit cards often administrated by the same companies that offer the,"normal credit cards." If, you use the store card it is less say 5% if you use the normal card it is 1 or 2 %. For people who carry a balance on a card, the interest rates are huge-considered usury in most other banking.