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NateNate60

@ NateNate60 @lemmy.world

Posts
10
Comments
506
Joined
3 yr. ago

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • A card which is subject to central bank regulations regarding the interchange fees which they are allowed to charge. According to the Dodd-Frank Wall Street Reform & Consumer Protection Act 2011, the Federal Reserve has the power to limit debit card interchange fees for debit cards issued by large banks with over $10 billion in assets. A "regulated debit card" issued by a bank subject to the regulation is therefore tariffed at the maximum rate allowed by the regulation, which is 0.05% plus 22 cents.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • If questioned by police they can say "I made it up for Internet clout. I didn't actually steal anything".

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • It is definitely not true that Discover interchange rates are significantly higher than Visa or Mastercard.

    I've put below a list of the actual interchange rates for various personal Visa, Mastercard, and Discover cards types.

    Debit:

    • Visa Debit Regulated: 0.05% + 22¢
    • Discover Debit Regulated: 0.05% + 22¢
    • Mastercard Debit Regulated: 0.05% + 22¢
    • Visa Debit: 0.8% + 15¢
    • Mastercard Debit: 1.05% + 15¢
    • Discover Debit: 1.1% + 16¢
    • Visa Debit Prepaid: 1.15% + 15¢
    • Mastercard Debit Prepaid: 1.15% + 15¢

    Base credit tiers:

    • Visa CPS Retail: 1.51% + 10¢
    • Discover Consumer: 1.56% +10¢
    • Mastercard Consumer: 1.65% + 10¢
    • Mastercard Enhanced: 1.8% + 10¢

    Rewards cards:

    • Visa Rewards Traditional: 1.65% + 10¢
    • Visa Rewards Signature: 1.65% + 10¢
    • Discover Rewards: 1.71% + 10¢
    • Discover Rewards Premium: 1.71% + 10¢
    • Mastercard World: 1.9% + 10¢

    Premium cards:

    • Visa Rewards Signature Preferred: 2.1% + 10¢
    • Discover Rewards Premium Plus: 2.15% + 10¢
    • Mastercard World Elite: 2.3% + 10¢

    You can plainly see that Discover tends to be more expensive than Visa but is cheaper than Mastercard. The only reason I could see that someone might refuse Discover is because Discover cards are all rewards credit cards that go into the higher tiers, whereas many Visa and Mastercard cards are debit cards which go into the lowest tier.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • Amex isn't exclusive at all. Anyone can go apply for one and get one. It's not special at all

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • I literally cannot think of any places that don't take Discover.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • Some American states (not mine) have banned surcharging for credit cards in response to consumer backlash. But what's not banned is marking up everything by 3% and then offering a 3% cash discount.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • Surprisingly not in the US. If you make 100 sales a day of $20 each, then over a six-day week, you'd pay roughly $360 in credit card transaction fees (assuming 2.5% + 10¢ per transaction which is average). If you instead spent half an hour a day counting cash in the till and then half an hour at the end of the week to go to the bank, that's about $98 in labour cost (assuming a labour cost of $28 per hour, which is roughly $25 per hour in wages and $3 per hour in tax), so the savings are $262 per week, which is not insignificant.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • When I buy from a small business that I want to support, I will use cash. When I'm buying anything from a large company, I will always use the fanciest credit cards in my wallet.

    In the United States, credit card processing fees are more expensive for fancy rewards credit cards and obviously there's no fee for cash.

  • What little things do you do each day that are your small ways of sticking it to the man?

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  • Everything is 4011. If I'm feeling generous, it might even be 94011!

  • Georgia prosecutor who took over 2020 election interference case says he's dropping charges against Trump and others

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  • I am deeply offended by that. I worked in a municipal government for several years and I can assure you that there are plenty of Republican civil servants who take their jobs just as seriously and act with as much impartiality as their Democratic counterparts.

    Like I said, to dismiss someone as "biased" only because they have the opposite political orientation is Trump-level reasoning.

  • Damn kids!

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  • Wait until we have six or seven votes on these comments and maybe then we can see

  • Georgia prosecutor who took over 2020 election interference case says he's dropping charges against Trump and others

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  • I don't consider mere membership in a political party as very strong evidence of bias. There are only two viable political parties in America and "membership" is nothing more than ticking a box on a form. Even I'm technically a Republican despite being a "woke lefty" because I just wanted to vote against Trump in the 2024 primary election and because it causes the Republican Party to waste money mailing me "get out the vote" campaign material which I immediately throw in the recycle bin.

    Civil servants are allowed to have political leanings. This doesn't make them automatically biased. That is Donald Trump-level reasoning. Just like he was wrong to attack the New York prosecutor who happens to be a Democrat, I'm not going to attack this guy just because he happens to be a Republican.

  • Damn kids!

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  • I cannot. You can only realise it's been used after it has already happened. I can try to think of a sentence all day but I will not come up with one because it can only come naturally.

  • Georgia prosecutor who took over 2020 election interference case says he's dropping charges against Trump and others

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  • Am I reading this wrong? The article seems to indicate that he's just a civil servant prosecutor? Is there any indication of bias?

  • Damn kids!

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  • I don't get what the annoyance is with "6-7". I've been using it for years and it just means "approximately" or "thereabouts".

  • Awww now the hate is coming for her

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  • The hater becomes the hated

  • House votes overwhelmingly to pass bill to force release of Epstein files

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  • I did hear an NPR interview with Ro Khanna (member of Congress representing California 17, discharge petition signatory) today, where whether he had concerns about the authenticity of the files to be released, and he did say that he did. When asked further how he could be sure that the files so released are complete and accurate, he said that it would be dumb to attempt a cover-up or incomplete release, because many of the victims' lawyers have already seen the files and thus would know if the released files are incomplete, inaccurate, or inauthentic.

    That being said, I do not expect Trump and his crack(pot) team of advisers to have the metal acuity to judge the probability of a successful cover-up correctly.

  • House votes overwhelmingly to pass bill to force release of Epstein files

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  • I think it's more likely that they'll just release all the files except for those which mention Trump and his allies, or edit out such references and pass it off as the genuine article.

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    Permanently Deleted

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  • Delicious edible icecream