161–170 of 497 posts
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> Credit card workflow: > - Cashier tells you the total amount > - You look in your wallet/purse > - You swipe card/insert in chip reader > - Done You forgot the part where you have to enter you PIN and wait for the transaction to go through, or sign the receipt.
Another difference between American and other systems. Credit cards in US don't have PIN numbers. Only Debit cards have PIN.
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Did you learn about the inflation @ school? In the UK we weren't taught about the Weimar Republic's hyperinflation (in education up to 16 y/o). My friend who did history @ a more advanced level was, however.
Really? It's standard in Portugal, as part of the context of WWII. My textbook even had a picture of people with a pile of bills.
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As an american, I find it strange that cash is faster. Most people who pay cash need to wait to get the change back unless they know the total beforehand and happen to have exact change. In the US, credit card machines are very fast even the chip enabled ones. Cash workflow: - Cashier tells you the total amount - You look in your wallet/purse - You spend time counting exact change if you do have it - If not, you take…
> Credit card workflow: > - Cashier tells you the total amount > - You look in your wallet/purse > - You swipe card/insert in chip reader > - Done You forgot the part where you have to enter you PIN and wait for the transaction to go through, or sign the receipt.
Considering everyone is carrying around wads to pay in cash. Are thieves/muggings a big problem in Germany?
By the way, the big costs of daily life, like rent, insurance and the like are not settled using credit cards, cheques or cash, this stuff is all done by bank transfer and has been done by bank transfer since long before credit cards became somewhat established (for occasional use).
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Because you are paying much more in transaction fees. In the EU, transaction fees are capped at <<1% so there are no silly cash-back programs.
But you pay those transaction fees whether or not you use a credit card. I believe there are even laws against charging more for paying with a credit card (beyond just having credit card minimum like you see at delis and mom and pop shops). Yet another example of wealth transfer in the US from the poor (who often don't have credit cards, or don't have the high rewards ones because they cost $150+ dollars a year) to t…
Yes, in nine states and DC. It was also part of the contract, but the courts struck that down after a big lawsuit.
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Because you are paying much more in transaction fees. In the EU, transaction fees are capped at <<1% so there are no silly cash-back programs.
But you pay those transaction fees whether or not you use a credit card. I believe there are even laws against charging more for paying with a credit card (beyond just having credit card minimum like you see at delis and mom and pop shops). Yet another example of wealth transfer in the US from the poor (who often don't have credit cards, or don't have the high rewards ones because they cost $150+ dollars a year) to t…
not really "laws", more like merchant agreements. also, there's nothing preventing shops from offering a cash discount, which is effectively the same thing.
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Because you are paying much more in transaction fees. In the EU, transaction fees are capped at <<1% so there are no silly cash-back programs.
In the UK Amex offer a 5% cashback card right now. It's not very long term and drops to 1% after a while but hey, they exist in Europe.