Still doesn't change what I would do if I got charged $11 after I'd been paying regularly for years. I still think it's ridiculous and any time I've ever had a dispute, they were more than willing to work for an equitable solution.
You are just a youngster. I remember $20 a week feeding 8 kids plus mom and dad - and regular price bread $0.25 a loaf - sale price 6 for a buck.
By law, if you accept a cheque you are extending credit. It is a risk. If you accept a credit card, the BANK is extending the credit on your behalf and you are paying them for taking that risk. They are guaranteeing you get your money. If you accept a debit card you are tking the cash directly out of the customer's bank account and paying the bank to do it for you.
When I was in the automotive repair business we took a lot of cheques. We got stung on a few big ones. One went back to the customer's bank 6 times before we managed to get it certified (figured out when his welfare cheque was cashed). Was he ever pissed when he found out what we had done.
Another customer bitched and complained about the bill, even though it was less than the estimate - then insisted on paying by cheque, even though he had said he was paying by credit card. I grabbed the cheque and told the boss to keep him talking/busy for a few minutes, while I jumped in the truck and went to his bank and had it certified. As I was going out one door, he was running in the other all out of breath asking to stop payment on the cheque. The teller told him he was too late.
I still accept cheques from regular customers, as I don't have a credit card account and can't expect customers to pay bills of over $1000 in cash - not to mention what it costs me to deposit cash at the bank.
philo posted for all of us...
I think they call it the "average daily balance" You have gotten many replies to this post!
See in line
philo posted for all of us...
A radio financial advisor once stated the best investment was owning stock in a CC co. I only wish I had money back then to do it...
YOU are the youngster. I am so old I remember when they PAID us to take loaves of bread. Top THAT!
On 03/22/2016 03:50 PM, Tekkie® wrote: fore?
It seems to be good advice...the stock is doing very well
I DO remember when they paid you to take gas - - -
If you call them it's likely they will reverse the interest charge. I've had them reverse it simply because I forgot. I'm not sure what their internal rules are but they seem willing to let you off the hook if it's not something you do all the time and you are an otherwise good customer.
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