Unintended Consequences: Credit Card Interest Rates now Much Higher

Re:Unintended Consequences: Credit Card Interest Rates now M... by jimbokun on Tuesday August 24, 2010 @12:30PM (#1630259)

Try asking for a cash discount when buying things. A lot of establishments will do this, just to avoid the credit card fees.

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Re:Unintended Consequences: Credit Card Interest Rates now M... by gchpaco on Tuesday August 24, 2010 @12:36PM (#1630286)

At least a few years ago this was against their contract with the CC companies (which isn't to say people won't do it under the table, they'll just be quiet about it).

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Re:Unintended Consequences: Credit Card Interest Rates now M... by CWuestefeld on Tuesday August 24, 2010 @12:49PM (#1630335)

I don't think this is true. They're not allowed to tack on a CC surcharge, but a cash discount (while accomplishing the same thing) is OK.

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Re:Unintended Consequences: Credit Card Interest Rates now M... by btilly on Tuesday August 24, 2010 @01:35PM (#1630474)

I didn't believe that cash discounts were OK, so I googled it and found http://fso.cpasitesolutions.com/premium/le/06_le_ic/fg/fg-me... which verifies that you're right.

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Re:Unintended Consequences: Credit Card Interest Rates now M... by gchpaco on Tuesday August 24, 2010 @07:26PM (#1631502)

Huh, you are in fact correct. I had stored in my brain the intended effect of the agreement but not the actuality.

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