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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Elroy Jetson who wrote (27028)2/23/2005 12:15:44 PM
From: benwood  Read Replies (1) of 110194
 
Grocery stores held out because (as my QFC statement kept repeating) their met profit margin was typically 1%. The fees charged for the cards varies by the purchase amount (from what I've read) and can vary between 1% and 3.5% (more for the offbeat cards). So those little charge purchases at the supermarket simply cause prices to go up. When my local supermarket began accepting credit cards, a clerk told me they hate to see them because they cost so much more than cash or checks. They preferred debit because it never bounced and had a small fixed fee.
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