Apr 06
At the store I work it is usually the die-hard American Express customers who their cards for everything (working there a while) and everyone else pays cash or debit (about 90%). I’ve been working at the same Wal-Mart for almost 6 yrs and this has recently caught my attention.
Why do so few people pay with credit cards these days?
People have maxed out all their credit cards.
because credit cards are bad it you can’t handle your spending.
Because you are paying someone else for the privilege of spending your own money.
We love giving 18% of our money to this mysterious gigantic entity called Master Card/Visa.
Where the hell is this entity?
If you don’t have the cash in your pocket, you can’t afford it. The only exceptions should be i you’re really in a bind and need to charge some cheap food to get you through a couple days.
Amex has reduced the limit on many credit lines across the board. Not because those folks were not paying but because it has become a huge liability for Amex. On top of that we have the crisis going on. Also other chains are starting to go after the Wal-Mart audience.
I gotta tell you, I had 1 terrible customer service experience in a Wal-Mart which unfortunatelly for Wal-Mart was my first and last
Consumers spend less and save more these days!