Amazon to stop accepting UK Visa credit cards • Hacker News Board

Re: Amazon to stop accepting UK Visa credit cards

#291

Post by imwillofficial » Wed, Nov 17, 2021, 1:10 PM UTC

mrec wrote: post #43

em10fan wrote: post #12

Earlier quoted context omitted.

Quite the opposite in the UK, at least over the last 10 years or so. 99% of debit cards are Visa, and most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases and things like travel, here. Even when it comes to credit cards, I would say Mastercard has like a large chunk - like 80% in terms of institutions (but who knows in terms of actual customers), I wou…

> 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?

So you can’t grasp that most other people might do things differently because you’ve done it one way for a long time?

Re: Amazon to stop accepting UK Visa credit cards

#292

Post by ericyan » Wed, Nov 17, 2021, 1:11 PM UTC

gambiting wrote: post #116

ericyan wrote: post #112

Earlier quoted context omitted.

Yeah, the catch is "if a merchant accepts..." I live in the Netherlands and biggest supermarket chain here, Albert Heijn, is strictly Mastro-only. This is not a problem for the locals, but you will find angry reviews left by tourists on pretty much every ah branch in Amsterdam on Google Maps.

Sure, and in theory that should be the prime example of "free market" at work - merchant doesn't want to accept visa/mastercard? They will lose customers then, if that's acceptable to them then that's their choice.

This would make sense if (and only if) all other things are equal. In reality it is slightly more complicated than that.

The second-largest chain, Jumbo, will happily accept my AMEX credit card. In many cases, the groceries are even (slightly) cheaper there. That's why it has been my preferred place to do the groceries for years. But I find my self goes to ah much more often than Jumbo recently, simply because I moved and there is one right across the street.

Re: Amazon to stop accepting UK Visa credit cards

#293

Post by gambiting » Wed, Nov 17, 2021, 1:12 PM UTC

andrewshadura wrote: post #256

gambiting wrote: post #225

Earlier quoted context omitted.

Just to address those points. 1) I've been able to dispute payments on my debit cards without any issue, they were always reversed instantly by the bank. Maybe I've been lucky, I don't know. And for the "bank is liable for your purchases" thing - that doesn't apply to anything under £100 either. 2) That is a stupid limitation of UK banks, not debit cards in general. I have a bank account in Poland and for the debit c…

I was going to comment "mBank, isn't it?" but then realised that in such a competitive market as you have in Poland probably every bank's implemented this already.

Hahaha, yes, it's mBank :-)

Re: Amazon to stop accepting UK Visa credit cards

#294

Post by imwillofficial » Wed, Nov 17, 2021, 1:12 PM UTC

rlpb wrote: post #282

input_sh wrote: post #79

Earlier 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…

> can't be overcharged, can't go below zero In the UK, it's really hard to get a bank account where they'll do that. Instead they'll pay it, call it an "unauthorised overdraft" and then charge you for that. This is their business model - it's how they make sufficient income to operate. There are "basic bank accounts" which don't provide a credit facility, but these only exist because people with poor credit histories…

“it's how they make sufficient income to operate.” No. This is how the practice parasitism on the poor.

Re: Amazon to stop accepting UK Visa credit cards

#295

Post by chanc3e » Wed, Nov 17, 2021, 1:17 PM UTC

stuaxo wrote: post #217

tazjin wrote: post #180

Earlier quoted context omitted.

I don't think that's really true outside of the US.

No, it's true in the UK. I had this issue, and had to get a credit card and buy stuff on it for a year... basically without using credit you may not have a credit rating. I always lose my cards and have to get them replaced, so have been back on just a debit card for a few years now.

Can second this.

I had to get a credit card as mortgage got denied because my credit record didn't exist. Three months after the card, I got approved.

This is despite me earning an extravagant wage relative to my age for over a decade and never missing rent/utilities/council tax.

Bad system.

Re: Amazon to stop accepting UK Visa credit cards

#296

Post by mrkramer » Wed, Nov 17, 2021, 1:17 PM UTC

“We are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins,” a Visa spokesman said in an email.

"When consumer choice is limited". Yea that's the problem, more competition is needed.

Re: Amazon to stop accepting UK Visa credit cards

#297

Post by aembleton » Wed, Nov 17, 2021, 1:18 PM UTC

MomoXenosaga wrote: post #281

mrec wrote: post #43

Earlier 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?

Credit card fees?

Get a fee free credit card and use direct debit to pay off in full each month.

Re: Amazon to stop accepting UK Visa credit cards

#298

Post by chanc3e » Wed, Nov 17, 2021, 1:20 PM UTC

maccard wrote: post #261

gifnamething wrote: post #236

Earlier quoted context omitted.

Expecting someone to lend you 6 figures when you've never displayed any ability to repay 2 is far more bizarre.

A credit rating basically isn't considered for a mortgage in the UK. They will check a report, and maybe request you pay outstanding debts (I was asked to clear my CC balance before completion both times), but unless you have a fraud marker or are bankrupt it won't affect you. Mortgages are secured on the asset, so it's far less risky than a personal loan of 5x less - the bank can seize the asset and force the sale o…

My experience is they do indeed dig into your credit report and will approve/deny based on it. Not sure where your information to the contrary comes from?

https://www.which.co.uk/money/mortgages-and-property/mortgag...

Re: Amazon to stop accepting UK Visa credit cards

#299

Post by mrep » Wed, Nov 17, 2021, 1:21 PM UTC

toyg wrote: post #121

00deadbeef wrote: post #54

Earlier quoted context omitted.

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.

Amex grants significantly higher credit limits than most banks. Londoners like to live an aspirational lifestyle in a hugely-overpriced city.

Really? Sure it doesn't have to do with the bank backing it? My Amex card has the second lowest limit of all my credit cards at a measly $6,500 whereas I have other cards with $30,000, $25,000, and $20,000 limits. Only one lower is my target card but they are known for having low limits.

Re: Amazon to stop accepting UK Visa credit cards

#300

Post by mnw21cam » Wed, Nov 17, 2021, 1:23 PM UTC

mattowen_uk wrote: post #159

input_sh wrote: post #79

Earlier 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.

It's more correct to say that never having any credit facility negatively impacts your credit rating. I have a credit card now, but several years ago I didn't, and I had a perfect credit rating, by dint of the multitude of other credit agreements that I had for the general running of my life, like mortgage, telephone, internet, etc.