XPost: calgary.general, can.general, can.politics
XPost: edm.general, hfx.general, mtl.general
XPost: qc.general, tor.general, van.general
XPost: wpg.general
From: spamsucks@crazyhat.net
In message gapope@vcn.bc.ca wrote:
>DevilsPGD wrote:
>D> Of course if I get mugged with $1000 cash, I'm out $1000. If I get
>D> mugged and lose my credit card, I'm out a 3 minute phone call, plus I
>D> have to be available the following day to sign for my replacement credit
>D> card.
>D>
>D> If I pay for a brand new Palm and I get in a car accident on my way home
>D> from the store, I get another brand new Palm, no charge.
>D>
>D> If my Palm dies 366 days after I bought it (on a one year warranty), I
>D> get it repaired/replaced for free.
>D>
>D> If I fly to Texas to hang out with some friends and get back to my hotel
>D> room and find all my stuff stolen, I get all my stuff replaced.
>
>All those are examples of INSURANCE that you happen to get with your credit
>card -- how do you suppose the insurance is paid for?
In part, with the annual fee I pay. Primarily by the interest people
pay on their credit cards.
>D> It costs money to deposit cash to a bank (on a business account) -- In
>D> addition, there are other overheads dealing with cash, including
>D> possibility of loss/theft, increased risk of robbery, increased
>D> insurance rates (due to increased risk of robbery)
>
>But __I__ don't have to pay for YOUR use of cash, unlike with credit cards,
>__I__ have to pay extra to cover the store's costs for YOUR credit card use.
You completely missed what I mentioned above -- Cash costs well over 3%
for a business to handle. You're looking at 1% just to deposit cash
into a bank, and usually another 2% towards insurance (which doesn't
cover employee theft, only robbery)
--
No Sprinkles. For every sprinkle I find, I shall kill you.
-- Stewie
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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