No they are charging you to use their facilities and they are taking that money from the interest they earn on the money you loaned them in the form of your deposit...hence you getting what you think is free banking
Something Black Barber shops need
- Thread starter moblack
- Start date
No they are charging you to use their facilities and they are taking that money from the interest they earn on the money you loaned them in the form of your deposit...hence you getting what you think is free banking
Please explain to us the negative impact of using your debt card (if you have money in your account).
I was never arguing the negative impact of using the debit card.
My two points were,
1)I wouldn't use it in a barbers, 'cos I'm not sure I can trust some of the numerous characters that use them and
2)that we don't have free banking even if there is no charge levied against your account labelled fee, the bank has taken that money from you via the interest they earned on your deposit..
And my point was that people were arguing semantics. Calling the use if a "debit card" a loan is stupid as shit. The only time I've heard phrase used that way is when you speak about "credit cards". Credit cards are loans based on the fact that you pay interest back to the lender per transaction. Some banks charge transaction fees ONLY after you do a certain amount of transactions.
You guys are using the word "loan" recklessly.
I just ordered Domino's for the family online with my credit card....This is 2010 folks need to stay current.
Are you intentionally trying to be dense.
A debit card payment is a bank loan.
How many different ways does it need to be explained.
Banks are in the business of lending. That is what they do. That is how they stay in business.
Plastic is not cash. Plastic is a convenient way of getting a bank loan.
Why is this so hard for you to understand?
1st off, you're wrong.
If I'm stopping at my girls house after work, and I leave my shoes there when I change. I'm not loaning her my shoes. She's storing them for me until I need them. Just like the bank.
You're wrong, I don't lose any money that I deposit.
I don't pay any fees.
I don't pay any interest.
I don't pay any penalties for using my money.
You have no clue my man. BTW, you STILL haven't answered my question.
If that's the case, then why doesn't every debit transaction affect my credit?
How do they make money on the transactions? If there is no interest charged to you per transaction it isn't a loan.
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The shops I get the tighest cuts have the most gutter negros in there cutting. Technology above a cell phone or game system ain't on their radar. Plus, it's a cash business for a reason.
Rick Ross........
For merchants, Cash > Credit, cuz they don't have to pay fees to the cc companies. The places that do except credit, only do so because they don't want risk losing customers to there competitors.
Barbers are amongst one of the few businesses left where most people expect to have to pay cash and will do so. However, there's a limit to what most people will spend with cash. Since most keep raising their prices coupled with the fact that many cheap fast food places now take cards means that they're going to have to start taking cards.
One potential issue is that many barbers rent their chair, so a centralized system for the shop may prove cumbersome. However, thanks to technology, there are systems being developed where people would be able to except cards on their smartphones, thus alleviating this issue.
This could prove especially beneficial if you're the only barber in the shop who takes cards.
I hear all the arguments about why they don't/won't/shouldn't have credit card machines in the barber shop, but how are barbershops any different than beauty parlors??? Any one I've been to in the last 5 years has accepted credit cards, and I can't vouch for the "trustworthiness" of most of the females & males I've seen working in them.
yeah thats true. but i tend to forget to replenish that shit once i spend it, and then i'm all mad at the situation again.
I've explained this twice, in 2 different posts, in this very thread how it works.
If it's too hard to understand, just accept you are borrowing from a bank when you use a payment card (debit/credit).
Since when have you been able to make a substantial purchase on a debit card with no money in your account? Never.
It's not a loan from the bank plain and simple. Credit cards are loans. You are borrowing money (you don't have) in order to make a purchase. That's a loan. All that other bullshit you're saying is ridiculous.
So, I guess you get to decide, all by your lonesome, how banking, credit, and payment cards work.
Well, at least I tried.
Yes. Because I'm right and you're wrong. pull up on the internet some where that says "debit cards are loans". I'll be waiting.
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This.
Cost of services at a beauty parlor >>> Cost of services at a barbershop.
The price of cuts is still on the edge of that petty cash region, once it leaves that region credit cards will become much more prevalent.