Monday, May 10, 2010

In Which Our Heroine Rants

So I'm driving home from work and I have the radio set to WTOP, the local news station, mostly because I want to find out if I need to move the potted brugmansia BACK into the house tonight because May has decided to turn cold (I do, damn it.) And they have on some "experts" to talk about recent and proposed changes to legislation concerning credit cards, including a proposed change that will limit "interchange" fees (fees charged by credit card companies to retailers every time a customer uses a credit card; generally about 2% of the price of the purchase).

The moron "expert" says: well, if the credit card companies can't charge this fee to retailers, they'll just charge it to consumers, one way or another.

Dude. Do you think I'm so stupid that I don't get that the retailers are ALREADY charging consumers these fees? In fact, unless my understanding is wrong, they now have to charge ALL consumers, even those who pay cash, a price high enough to cover these fees, because the credit card companies specifically prohibit retailers from charging a lower price to consumers who pay cash.

Kali fuck, WTOP, could you please just not insult my intelligence?

And, weather every five minutes vs. every ten, esp. if you fill the other nine with this kind of brain-eating stupidity.

Dear Readers: Don't buy stuff on credit unless you're going to be able to pay it all off at the end of the month and you're getting money back or airline miles. That is all. (Mortgages and some student loans excepted, but you didn't use credit cards for those, anyway, at least, I hope.)


Apuleius Platonicus said...

Ah, Brugs. I used to have a small tribe of potted Bruggies, but they all succumbed to spider mites. Alas.

nanoboy said...

I have never used one myself. I use a debit card every time. I don't feel like taking out a loan for lunch.

Teacats said...

We do use credit cards -- but pay the bills each month. As you point out -- OF COURSE EVERY SINGLE FEE is built right into the purchase price. Even when an item is on sale -- retailers still make a profit.

The huge storm system that hit Oklahoma just steered clear of us -- thank the Stars and Every God and Goddess.

Jan at Rosemary Cottage