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I miss paying by check

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rbm:

--- Quote from: prof_stack on January 07, 2015, 12:57:09 AM ---Yes, the local govt. is getting a good deal.  Let's do the math.  Say my property tax bill is $5,000 for the year.  2.5% of that is $125.  Why would anyone want to waste $125 paying by credit card when there is no fee by check?

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The 2.5% charge offsets the merchant fee charged to the government by the CC company.  In essence, the government is transferring their cost of doing business to you in exchange for giving you the convenience of using your CC.  This practice of cost transfer is generally frowned upon by the Brands and could be forbidden in the merchant's agreement (but since you don't get to see their merchant agreement the government gets away with this practice).

Credit card fraud should reduce when in the US when the conversion to EMV occurs this fall.  I hate magstripe and get real nervous when I have to shop in the US using my credit card.

And, I have never regretted my stopping the use of cheques.  I think I hate cheques more than magstripes.  :)

blackcat:

--- Quote from: Lannis on January 07, 2015, 08:17:21 AM ---How did you do that?   That would be a good thing for me to do, since at this time of life, there's no reason for anyone to be checking my credit rating.   Last year I cancelled my home-equity line of credit and opened a non-secured "personal" line of credit - they had to run a "credit rating" check but that's the last one I'll ever need ...

Lannis

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I have it set up through TransUnion and it is a something like $14 dollars a month which I consider to be worth the minimal amount of money after listening to the nightmare my friend has gone through with his credit being ransacked. I assume you can do this with the other two credit agency's but TU seems to be the main one nowadays.

Lannis:

--- Quote from: blackcat on January 09, 2015, 07:10:29 AM ---I have it set up through TransUnion and it is a something like $14 dollars a month which I consider to be worth the minimal amount of money after listening to the nightmare my friend has gone through with his credit being ransacked. I assume you can do this with the other two credit agency's but TU seems to be the main one nowadays.



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Thanks!

Although it sounds a bit like a gangland protection racket.   "Good credit you got there, buddy.  Be a shame if something happened to it.   Tell you what, though ... wet our beak each month (know what I mean?) and we'll maybe NOT send anybody who asks all your information....."

I guess "unless the guy asking gives us more" in which case you're hosed, or the price goes up .....

Lannis

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