Stop Using You Credit Card

I’m going out on a limb here and asking you to join me in my fight to stop using Credit Cards. I’m going to keep my purchases on it to a VERY minimum. I don’t use mine much anyways, I can’t remember the last time I used it in person. If there was another way to pay for things online I could do with out completely.Anyways, lets get on to why I think we should get rid of them. There are two reasons from both sides of the fence. One from the consumer perspective and one as a businesses accepting credit transactions.First I’ll tackle the simple one. It is absolutely crazy the way that they are screwing the general public. With the crazy interest rates and they practices of raising limits. They are preying on people who don’t know better and can’t stop them selves from spending. I can’t count the number of friends who got credit while in school and maxed cards out very quickly and are still paying on them today. I think this practice is worse south of the border where there is less regulation on who can offer credit which has lead to more card issuers and people have more cards. Look in your wallet. How many cards do you have? Why do you need 3 or 4 or 5? Because then you get more credit that you’ll be paying off until your dead? You should have a card in case of emergencies. They do come in handy, and like I’ve already stated, there’s no other way to shop online in most cases!On to my second point. There are changes, I don’t know if this is happening outside of Canada, but as of TODAY it’s here. Used to be that when a merchant accepts a credit card for say $100 (round numbers to make it easy) they pay a percent or two fee to the credit company. So as a merchant you loose a buck or two on that transaction, usually no big deal, in most cases it’s factored into the price to begin with (a point that is increasingly pissing me, as a cash customer, off).The credit companies have just, suspiciously at the same time, changed the way they charge merchants. After years of introducing Air Miles, Points, Cash Back programs to entice consumers to get their card and use them, they are now passing on that expense to the merchants. As a merchant you used to have to sign on to the Air Miles program, which meant you paid a bit more fee but customers would shop there because you were giving out miles. I’m totally fine with that. But after that they took it a step farther, you can now get money back on every purchase and guess where that money is coming from now?Now they are jacking up the fees they charge, and I’m not complaining about them raising their fees. If they all go up it’s still a level playing field. What I don’t like is not knowing what I’m paying. You see under the new system, each and every card could be a different fee and it varies a lot. On top of that the same card from day to day can carry a different fee. See they have this “high spender” flag, it’s not a specific card, it’s a flag on any card that can change after just one transaction. So say Tom walks in to my business with $10 in goods, we charge his card pay our 2% then he goes to the Buy More to but a new home theater system for ten grand and his card get flagged as a “high spender” card. Tomorrow he comes again and buys $200 in gods and now with the new “high spender” designation we pay 3 or 4% (or more it all depends)! How can they justify that?I don’t like these practices. I personally don’t like owing them money either. I’m going to make an effort to stop using my card. I’m asking you to join me!