@longtimelurker wrote:
@Anonymous wrote:
@taxi818 wrote:
@Anonymous wrote:
Putting aside the issues of fees that Chargesmart assesses how do the credit card companies feel about users paying utilities or even mortgages with their cards via Chargesmart? Something they frown upon or dont really care?
most don't care what you charge as long as it is not MS. or other cash equivlent items. where they cant collect their cash advance fees. ie wire money to a friend with you card. they will charge Cash Advance. as long as it is a bill. they encourage it to be frank. im not sure of the chargesmart service itself. just saying. i even got letters saying charge a utility and get 10 percent cash back. Boom electric bill on my card. 10 percent really. that was 18 dollars. you bet it will.
How is it not a cash equivalent practice? Of course it is. Now, it sucks, in profitability for the user,compared to other practices, but it is monetizing your credit.
Not that clear! If the utility/mortgage company/rent agency accepted credit cards (as some do) you could just use the credit card with them. If they don't, you go through a third party, but it's still basically a purchase rather than a cash advance, which is where cash equivalency comes in. If I go to a bookstore and buy, say "The Vegan Guide to the Falklands War" (a bargain at $150) with my credit card, is this monetizing my credit?
I guess it's in the Vegan nature the need to complicate things. We, bloody meat eaters, see things simple. If I can run a card without any other concerns other than swiping it, then it's a credit operation. If I have to make the credit procedure more complicated in order to use it, then I am modifying my credit into something else (your world)/
That's how I see it. Just like when I see a juicy steak, I think "hmmm, GOOD." And when I see some tofu, I think "F#$@#$." Now don't try to confuse my innocent meat-eater mind with your fancy Vegan ways...
