Credit Card surcharge coming to NJ?

[Kingsoverqueens 10]

They don't need the fees,

They do in my case. I haven't carried a penny's worth of credit card debt in close to 20 years. In that time I've run hundreds of thousands of dollars in purchases through my discover card.

 

While merchants may have amended their pricing to accomodate credit card fee's, absent credit cards, they would or did have to amend them for bad checks and cash management. I believe banks charge merchants for bulk coinage for change, no?

 

I remember a client of mine who was in the building supply (ceramic tiles/bath/kitchen fixtures) business who stopped contractors accounts. If the contractor couldn't or wouldn't pay prior to delivery the owner of the home where the material was being installed had to come to his store to pay for the material. He said it was one of the best decisions he ever made. The credit card vig paled in comparison to the cost of extending credit to his contractor base.

[Vlad G 345]

They do in my case. I haven't carried a penny's worth of credit card debt in close to 20 years. In that time I've run hundreds of thousands of dollars in purchases through my discover card.

 

You are the exception, and well done. The average credit card balance is over $7000 which is telling because a lot of people don't even have credit cards (mostly but not qualifying) and the average for people credit card debt is over $15000.

[Zell959 40]

 

 

You are the exception, and well done. The average credit card balance is over $7000 which is telling because a lot of people don't even have credit cards (mostly but not qualifying) and the average for people credit card debt is over $15000.

 

Might that average include business and corporate cards?

[Vlad G 345]

Might that average include business and corporate cards?

 

Nope, consumer credit: http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household

[RubberBullets 65]

Agreed with KoQs. I dont mind BoA letting me use their money for a month but ill be damned if I pay interest fees. If I dont have the dough the CC isnt a means to an end (unless my situation becomes dire)