Adding Surcharges to Credit Card Purchases

Right. And it's cheaper for the merchant I believe if you run it as debit, but not as credit. (IIRC; I'm not entirely certain of that.)

nate

Reply to
Nate Nagel
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Nope, I can use it as a debit card and pin and get the same deal. Info came in the mail recently and also in with my bank statement. Don't know how others work, but that is what came from Peoples Bank.

Reply to
Ed Pawlowski

Check carefully about the fraud provisions or loss coverage, etc., ...

If they match the Federal on the $50 max loss, etc., I'd be quite surprised and it will, as noted, be a case of the issuer stepping up to the plate as a marketing ploy and can go away any time as it isn't mandated by law as is the credit card side. The warranty and other features I'm not surprised about; many do that. The key point is the loss limitations, though, and I'd suggest reading the fine print _very_ carefully before you assume too much.

Reply to
dpb

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Bingo! Same thing with state usury laws. The banks lobbied for and got exemptions from laws that stood between them and profits. In many cases, the lobbyists even wrote the proposed legistlation they wanted passed, word for word. Credit card companies got a lot of exemptions passed early on to promote the use of credit cards. Guess what? Those "promotional exemptions" never disappeared, even when the credit card companies no longer had to worry about the idea of credit cards taking off.

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Reply to
Robert Green

On 10/24/2013 4:19 PM, Mark Lloyd wrote: ...

+about 235... :)

We've used CC since college days but have paid any interest only a half-dozen times when some unforeseen scheduling circumstance caused a payment to be late a day or so in the olden days when mail was the only manner by which to do business...I'd estimate in that 50 yr period total would be

Reply to
dpb

Exactly. I'd be very surprised if the bank was really stepping up to the plate. ...and will if the fit hits the shan.

Reply to
krw

MOST places don't take personal checks any more - and extremely few will take an "out of town" check..

Reply to
clare

Loss limit is $0. I had charges from my wife's card and the money was back in the account in 24 hours.

Reply to
Ed Pawlowski

They stepped up to $1200 in charges on a stolen card. Money was back in the account the day after it was reported by phone. Surprised?

Reply to
Ed Pawlowski

Some places will with an ID and they run it through a (pay for) service that guarantees the check. Not sure of the details.

It is also possible for a merchant to electronically deposit your check virtually immediately so there is no longer any float. Quick as a debit card.

Reply to
Ed Pawlowski

Not done up here - Debit is king. I don't debit but my wife does occaisionally, and daughters regularly

Reply to
clare

There are places like Aldi which will not process credit cards you must use it as a debit card. ^_^

TDD

Reply to
The Daring Dufas

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Well, again, it's up to them. If they honored it that's _a_good_thing_ (tm) but it's not in the law and is quite unusual, indeed.

Reply to
dpb

On 10/24/2013 11:34 PM, The Daring Dufas wrote: ...

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In which case it stays on the shelf... :)

Reply to
dpb

I happen to like Aldi and my Visa card works both ways so I've had to remember my pin number. My card works at the teller window at my bank and I don't have to write a check anymore to get cash at my bank. I do see a problem with becoming a cashless society. It would mean that the government could tell you that you must do something and if you refused, your money would be turned off. I now see that coming with health care. o_O

TDD

Reply to
The Daring Dufas

At the rate we are going, they can eliminate the fees on card and just take 3% of our income when direct deposited and GIVE it to the banks. I just don't like the idea they are getting a piece of everything we do. Sure, I use card for convenience at times, but try to use cash for anything under $100, more if I plan ahead to carry extra cash..

Reply to
Ed Pawlowski

I do

I haven't got the source, but I do remember some about the new plan wants your bank account number, so that they can make automatic payments from your account.

As to shutting off money, no party line Democrat would have anything to fear from the government.

Reply to
Stormin Mormon

On 10/24/2013 11:43 PM, dpb wrote: ...

I discover I hadn't kept up entirely -- the CC loss of $50 is part of the Fair Credit Billing Act (FCBA) and doesn't cover ATM/debit cards. What I hadn't read recently enough was the provisions of the (somewhat newer) EFTA -- the Electronic Funds Transfer Act; it does have loss limits that aren't the same.

But, the $0 limit is there, you are correct--I wasn't aware of that. A summary is if you report--

-Before any unauthorized charges are made. --> Limit $0

-Within 2 business days after you learn about the loss or theft. --> Limit $50 (Aside, how do you prove when you "learned" of it?)

-More than 2 business days after you learn about the loss or theft, but less than 60 calendar days after your statement is sent to you. --> Limit $500

Now here's the kicker -- not that it's likely if you're paying any attention at all, but...the law isn't user friendly here, for sure.

-More than 60 calendar days after your statement is sent to you. All the money taken from your ATM/debit card acount, and possibly more; for example, money in accounts linked to your debit account.

So, the $0-limit within that first time frame or if you know and report it before the charges are actually made, that's in the law and so it isn't up to the issuer as I had thought. I thought it was like the $500 limit was the best it was for debit/ATM and everybody remembers the last one.

So, I should have looked it up for a refresher first; sorry...

Reply to
dpb

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None of them here -- there is one at one of kid's places of residence; don't even recall which one, now. The one card is AC/DC but I don't know the PIN and never will....in fact, this reminds me that I don't think I ever activated it when they sent the new one. I ought to try the CC side and make sure it's working just in case. I normally use a different one only on rare occasions use the other (the one accumulates miles into the long-term FF acc't so just keep on w/ it even though no longer in consulting gig travel is way down it does pay for a family trip every year or so--daughter and sil flew here from Olympia last winter using those miles that couldn't have done themselves. And I just do (and will) not routinely carry significant amounts of cash.

Reply to
dpb

It's the law in Canada.

Reply to
clare

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