Comments on: I Don’t Hate Credit Cards and You Shouldn’t Either http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html Finance, Fitness, Fashion & Fun - the sum of my life. Wed, 08 Sep 2010 16:20:34 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: ToniAnnette http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html/comment-page-2#comment-66761 ToniAnnette Tue, 12 May 2009 01:53:41 +0000 http://fabulousfinancials.com/?p=3161#comment-66761 Point of clarification for Edie -- Sheila Johnson, former wife of Bob Johnson (BET), was the first African-American billionaire not Oprah. That is, if she deigns to come back and read this blog. Point of clarification for Edie — Sheila Johnson, former wife of Bob Johnson (BET), was the first African-American billionaire not Oprah. That is, if she deigns to come back and read this blog.

]]> By: velvet jones http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html/comment-page-2#comment-66755 velvet jones Tue, 12 May 2009 00:13:38 +0000 http://fabulousfinancials.com/?p=3161#comment-66755 So why can't this commenter argue their point without making personal assumptions, passive-aggressive tactics, and trying to force the writer to agree that their views are the only ones that are valid and right? A quote from a thousand-aire black woman, "Boo girlfriend, BOO." So why can’t this commenter argue their point without making personal assumptions, passive-aggressive tactics, and trying to force the writer to agree that their views are the only ones that are valid and right? A quote from a thousand-aire black woman, “Boo girlfriend, BOO.”

]]> By: caryn http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html/comment-page-2#comment-66743 caryn Mon, 11 May 2009 20:44:04 +0000 http://fabulousfinancials.com/?p=3161#comment-66743 one last thing, regarding AMES' comment about not using debit/credit cards because businesses have to pay interchange fees. i strongly disagree with that mentality. a business is in business to make money. bottom line. they are not REQUIRED to accept credit cards, many choose to in an effort to increase their consumer volume. however, there are places that will not accept credit cards that do quite well. there's a local chicken place near my house that only takes cash and the line is out the door everyday. the person that runs that chicken shop is a small business owner and she made the decision to only accept cash. her business is booming. could she make more money if she took credit cards? maybe, maybe not. but the bottom line is it's her choice. and as far as fees eating into their profit margin, PUHLEEZE. rates can be as low at 1%, i haven't heard of anything higher than 3 or 4%. the higher interchange fees are usually assessed to merchants with higher risks. i really don't think consumers should worry about the impact credit card fees are having on merchants. we are a capitalist economy, businesses and consumers each make their own choices. one last thing, regarding AMES’ comment about not using debit/credit cards because businesses have to pay interchange fees. i strongly disagree with that mentality. a business is in business to make money. bottom line. they are not REQUIRED to accept credit cards, many choose to in an effort to increase their consumer volume. however, there are places that will not accept credit cards that do quite well. there’s a local chicken place near my house that only takes cash and the line is out the door everyday.

the person that runs that chicken shop is a small business owner and she made the decision to only accept cash. her business is booming. could she make more money if she took credit cards? maybe, maybe not. but the bottom line is it’s her choice.

and as far as fees eating into their profit margin, PUHLEEZE. rates can be as low at 1%, i haven’t heard of anything higher than 3 or 4%. the higher interchange fees are usually assessed to merchants with higher risks.

i really don’t think consumers should worry about the impact credit card fees are having on merchants. we are a capitalist economy, businesses and consumers each make their own choices.

]]> By: caryn http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html/comment-page-1#comment-66742 caryn Mon, 11 May 2009 20:33:47 +0000 http://fabulousfinancials.com/?p=3161#comment-66742 wow i didn't know things got so heated until i saw your most recent post and i had to come back here and see what happened. Wow. All I can say is that SM has more patience than me! thanks for the interesting reading, sorry to read that it got a little crazy (on Edie's end) towards the end. wow i didn’t know things got so heated until i saw your most recent post and i had to come back here and see what happened. Wow. All I can say is that SM has more patience than me! thanks for the interesting reading, sorry to read that it got a little crazy (on Edie’s end) towards the end.

]]> By: MrsSmith http://fabulousfinancials.com/2009/05/i-dont-hate-credit-cards-and-you-shouldnt-either.html/comment-page-1#comment-66640 MrsSmith Mon, 11 May 2009 00:03:13 +0000 http://fabulousfinancials.com/?p=3161#comment-66640 But if Edie keeps her money anywhere other than her mattress, she, too, is making money off of poor and ignorant people, is she not? A bank might give her 5% on her savings account because they are charging ignorant people 12% on car loans. She is awfully full of herself and her big heart, but she has some seriously closed eyes. But if Edie keeps her money anywhere other than her mattress, she, too, is making money off of poor and ignorant people, is she not? A bank might give her 5% on her savings account because they are charging ignorant people 12% on car loans. She is awfully full of herself and her big heart, but she has some seriously closed eyes.

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