Comments on: Credit card companies to penalize “freeloaders”: What’s your plan?

By: Revanche

Revanche — Thu, 29 Apr 2010 02:59:17 +0000

JH, your comments were phrased in an accusatory, patronizing, and flat out rude manner. Ergo, you were coming across as abusive.

Perhaps a refresher course on web etiquette would be appropriate for you, as you think that using all caps is civil behavior and it’s not. Funny tolerates and welcomes all kinds of dialogue and disagreements but she doesn’t have any reason to tolerate poor behavior.

By: jh

jh — Wed, 28 Apr 2010 23:42:03 +0000

Funny,
The comments were not abusive and were based purely on logic…the looks like a duck syndrome. When one defends an indefensible policy the logical conclusions are:
the defending party is biased and or lacks comprehension. Ergo, the remarks were civil and logical.

By: funny

funny — Wed, 28 Apr 2010 21:22:22 +0000

@ jh: You should do that–it could be useful. As for your last: I do not accept abusive comments. People are welcome to disagree with me civilly, but I feel no need to tolerate ad hominem (feminem?) attacks.

By: jh

jh — Wed, 28 Apr 2010 16:34:43 +0000

Funny,
I see that my response to you of April the 23rd, 2010 hit a nerve. I do think that you are in some way affiliated with Costco because you have removed my response to your April 22nd, 2010 comments.
Once again: I am not convinced that Amex gives rebates across the board for all retailers. Regardless, cash customers pay a surcharge for all charges made. At Costco, they not only subsidize the customers who pay with credit but are further penalized by not receiving any rebates as well.
Since you have decided to remove my last comment, I am tempted to create an open blog where other responsible, dissatisfied Costco members can have a voice. Over the past three years I have seen this happen at other sites as well…it seems Costco does not like valid criticism and exerts influence to stifle its members’ concerns.

By: funny

funny — Fri, 23 Apr 2010 03:07:24 +0000

Hi, JH– The AMEX card has cash rebates for all purchases anywhere, not just restricted to Costco. All merchants who accept any credit card have to pay transaction fees to the credit card issuers; that cost is passed along to consumers, whether or not they pay in cash or by credit. Thus the situation isn’t exclusive to Costco. It’s pretty much universal across the land and around the world, unless you buy from cash-only businesses.

By: JH

JH — Thu, 22 Apr 2010 23:30:27 +0000

Funny,
The Amex card has cash rebates for all purchases made at Costco. Cash customers pay for the credit they do not use as well as the rebates for those who chose to use an Amex card. The idea of a retailer dictating what credit card customers will use, without choices and then charging them $50+ a year for membership is ABSURD.
If you buy gas with a cash card you do not get the 3% back!!!

By: funny

funny — Thu, 22 Apr 2010 14:13:05 +0000

@ JH: How does Costco penalize cash customers? The price is the same, whether you charge or pay cash. They have a deal with American Express that gives Costco a much better deal with AMEX than anyone out in the wild gets: a cash kickback, no annual fee, and so far none of the extra gouges other card issuers have instituted in the wake of the new credit-card consumer protection law. If you want to buy gas there without using a credit card, simply use cash to buy a cash card, which works at the gas pumps.

By: JH Williamson

JH Williamson — Thu, 22 Apr 2010 14:03:14 +0000

Am I the ony one who sees that Costco penalizes cash customers?
The people from whom they make the most, cash customers, do not get any cash rebates and are forced, by Costco, to use American Express Card.
Jim Sinegal, STOP PUNISHING THOSE WHO PAY WITH CASH FOR IT IS FROM THEM THAT YOU MAKE THE BIGGEST PROFITS.

By: threadbndr

threadbndr — Wed, 27 May 2009 16:44:24 +0000

my main CC (used for travel and online purchases only and paid off every month) is from a credit union. I’d hope that as shareholders, we would not be hit with an annual fee. Of course there are no rewards on it either, but I use it so seldom, that’s not really an issue.

By: Abigail

Abigail — Thu, 21 May 2009 02:50:16 +0000

I, too, am wondering how much of these predictions are just scare tactics to try and fake legislators out. (That said, since they didn’t flinch, maybe card companies will do it.)

I can’t imagine that all card companies will install annual fees. Then again, I could just be overly optimistic.

We were planning on canceling our United Airways card, but now I think I’ll keep it around for awhile. Under present terms, the card lets you use some miles you earned to pay your annual fee, if you like. That will come in useful if annual fees become ubiquitous.

Still, I’m wondering why the card companies don’t simply charge a fee for the users that are being saved all those fees/penalties. It would be a good way to reward good customers and make more money off the financially problematic.

I would be really upset if my Citi card starts charging me an annual fee. I’ve had it for 12 years, and would hate to ding my credit by closing my oldest account. Still, if I can avoid paying a fee, I’ll say a fond farewell.