I'm not convinced that this is a genuine email. Maybe someone here can explore..
The BBC are running with it[1], so it's must be true. /s
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Amazon to stop accepting UK Visa credit cards
171–180 of 534 posts
Re: Amazon to stop accepting UK Visa credit cards
#172Earlier quoted context omitted.
> most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases Huh? I'm in the UK, have been an Amazon customer for over 20 years and have always used a credit card for everything. I didn't even know you could use a debit card, and can't see any reason you'd want to. Paid off in full every month, better consumer protection, what's not to like?
Here's why: two debit cards, one for receiving money, one for spending money. Automated payment from the 1st one to the 2nd one once a month with a fixed amount you expect to spend in a month. Nothing to pay off, you're spending your own money, can't be overcharged, can't go below zero, if someone leaks your spending card they can't touch the majority of your money, no scummy business practices. Never owned a credit…
90% of this is what a credit card already is... the only tricky thing is the limit which might not be as easily configured, but it certainly can be.
Re: Amazon to stop accepting UK Visa credit cards
#173Earlier quoted context omitted.
Fun fact: At M&S, 12% of payments taken online for delivery to London addresses are paid by Amex. The rest of the country? <3%.
Any idea why Amex would be so popular in London? I'd never even consider an Amex card due to my perception of it being something that many places won't even accept.
People with higher incomes can afford Amex's Platinum card, which includes good travel insurance, good customer service, access to a good hotel booking program, airport lounge access, boosted status with a few airlines, etc. Most places in the UK that cater to this segment also accept Amex.
However, it's a charge card and not a credit card, so it does need to be paid off in full every month.
Re: Amazon to stop accepting UK Visa credit cards
#174Earlier quoted context omitted.
> most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases Huh? I'm in the UK, have been an Amazon customer for over 20 years and have always used a credit card for everything. I didn't even know you could use a debit card, and can't see any reason you'd want to. Paid off in full every month, better consumer protection, what's not to like?
Here's why: two debit cards, one for receiving money, one for spending money. Automated payment from the 1st one to the 2nd one once a month with a fixed amount you expect to spend in a month. Nothing to pay off, you're spending your own money, can't be overcharged, can't go below zero, if someone leaks your spending card they can't touch the majority of your money, no scummy business practices. Never owned a credit…
> Never owned a credit card, don't have the slightest wish to do so.
I own a credit card, as you get additional consumer protections using a credit card rather than a debit card in the UK.
Pay it off in full every month. No problem.
Re: Amazon to stop accepting UK Visa credit cards
#175VAT evasion is widespread in certain countries (like Italy for instance), and pushing people to prefer electronic payments to cash is empirically the only realistic way to counter it, but there will always be resistance from small retailers until payment fees are low enough. The availability of electronic payments should be universal, I personally hate being forced to constantly carry cash on myself at all times. In…
Lost VAT revenue is not due to mom-and-pop shops offering a discount under the table. The vast majority of lost VAT revenue is due to organized VAT carousel frauds, also knows as missing trader fraud, where an organized groups of 10-20 people siphons tens of millions into their pockets through reimbursements of fictitious trades. It's one of the most lucrative fraud schemes there is, but if caught and convicted, the…
I don't understand how this works. If I see correctly, one entity in the chain simply does not pay the VAT it collected. Why is it important that it's cross border? I could issue an invoice to my neighbour's company myself and simply not report it. You can always do that and hope you don't get an audit.
Re: Amazon to stop accepting UK Visa credit cards
#176Earlier quoted context omitted.
> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.
Such a broken system..... I have to spend everything on a credit card, then when i get home from shopping 45 minutes later go and pay it off using a debt card. Its so unfriendly for the consumer.
Why not rely on direct debit to pay the full balance?
Re: Amazon to stop accepting UK Visa credit cards
#177Earlier quoted context omitted.
Here's why: two debit cards, one for receiving money, one for spending money. Automated payment from the 1st one to the 2nd one once a month with a fixed amount you expect to spend in a month. Nothing to pay off, you're spending your own money, can't be overcharged, can't go below zero, if someone leaks your spending card they can't touch the majority of your money, no scummy business practices. Never owned a credit…
> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.
[deleted]
Re: Amazon to stop accepting UK Visa credit cards
#178I really don't get why we accept this de-facto tax on the world economy by US companies. Amex, Visa and Mastercard are all based in the US, and all charge a (nowadays) non-negotiable fee on selling anything. Cash has many problems, and clearly won't work for online purchases, but at least small business owners could pay their employees "out of the till" at the end of the week, bypassing bank transaction fees and a fa…
> "Pablo was earning so much that each year we would write off 10% of the money because the rats would eat it in storage or it would be damaged by water or lost," Escobar wrote.
https://www.businessinsider.com/pablo-escobar-and-rubber-ban...
Re: Amazon to stop accepting UK Visa credit cards
#179Re: Amazon to stop accepting UK Visa credit cards
#180Earlier quoted context omitted.
Here's why: two debit cards, one for receiving money, one for spending money. Automated payment from the 1st one to the 2nd one once a month with a fixed amount you expect to spend in a month. Nothing to pay off, you're spending your own money, can't be overcharged, can't go below zero, if someone leaks your spending card they can't touch the majority of your money, no scummy business practices. Never owned a credit…
> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.
I don't think that's really true outside of the US.