Shares in Circuit City Stores plummeted 25 percent on Friday

The story is at: http://www.cnbc.com/id/22339523

I hope they don't blame me for this. I just wanted them to answer the
phone and give the laptop to my x-wife.
They did put the money back into my bank account.

"Gerald Newton" wrote in message
...
The story is at: http://www.cnbc.com/id/22339523

I hope they don't blame me for this. I just wanted them to answer the
phone and give the laptop to my x-wife.
They did put the money back into my bank account.

Any delay in getting the money back on your debit card is more than likely
the result of normal processing. Holds are real-time, but voids, credits,
and settlements are done in batch mode, usually within a few days, but
sometimes up to a week later. This is usually not because of the merchant,
but because of the bank that issued your card.

On Fri, 21 Dec 2007 23:48:27 -0500 Mark A wrote:
| "Gerald Newton" wrote in message
| ...
| The story is at: http://www.cnbc.com/id/22339523
|
| I hope they don't blame me for this. I just wanted them to answer the
| phone and give the laptop to my x-wife.
| They did put the money back into my bank account.
|
| Any delay in getting the money back on your debit card is more than likely
| the result of normal processing. Holds are real-time, but voids, credits,
| and settlements are done in batch mode, usually within a few days, but
| sometimes up to a week later. This is usually not because of the merchant,
| but because of the bank that issued your card.

They can do better. But I guess it will require law changes to get them
to actually do it. It's a shame that this is so, but generally I do not
like having to keep making more laws. But as long as businesses act this
way, then so be it.

--
|---------------------------------------/----------------------------------|
| Phil Howard KA9WGN (ka9wgn.ham.org) / Do not send to the address below |
| first name lower case at ipal.net / |
|------------------------------------/-------------------------------------|

wrote in message
...
They can do better. But I guess it will require law changes to get them
to actually do it. It's a shame that this is so, but generally I do not
like having to keep making more laws. But as long as businesses act this
way, then so be it.

The problem is that the current technology was developed for credit cards,
so if there was hold on a card for a few extra days, it usually did not
matter unless someone was maxed out on their credit line. When they run
debit cards through the same system, then it gets a little trickier, since
when a hold is placed, actual cash disappears from your checking account
balance.

The best thing is to not use debit cards unless you cannot qualify for a
credit card.

On Sat, 22 Dec 2007 01:10:29 -0500 Mark A wrote:
| wrote in message
| ...
| They can do better. But I guess it will require law changes to get them
| to actually do it. It's a shame that this is so, but generally I do not
| like having to keep making more laws. But as long as businesses act this
| way, then so be it.
|
| The problem is that the current technology was developed for credit cards,
| so if there was hold on a card for a few extra days, it usually did not
| matter unless someone was maxed out on their credit line. When they run
| debit cards through the same system, then it gets a little trickier, since
| when a hold is placed, actual cash disappears from your checking account
| balance.

Which is why they need to fix it, and if necessary, apply the force of law
to get them to do so.


| The best thing is to not use debit cards unless you cannot qualify for a
| credit card.

OTOH, I advise people to avoid credit cards unless they are so strapped for
cash that they need credit (but even then I urge them not to). Credit cards
are a serious trap for a lot of people.

--
|---------------------------------------/----------------------------------|
| Phil Howard KA9WGN (ka9wgn.ham.org) / Do not send to the address below |
| first name lower case at ipal.net / |
|------------------------------------/-------------------------------------|

wrote in message
...
Which is why they need to fix it, and if necessary, apply the force of law
to get them to do so.

Another option is to not use it if you don't like it.

OTOH, I advise people to avoid credit cards unless they are so strapped
for
cash that they need credit (but even then I urge them not to). Credit
cards
are a serious trap for a lot of people.

I have my credit card set to be paid on full each month from my checking
account. That should put the fear of God in most people.

On Sat, 22 Dec 2007 14:26:34 -0500, "Jim" jimmy AT hotmail.com
wrote:


"Mark A" wrote in message
...
wrote in message
...
They can do better. But I guess it will require law changes to get them
to actually do it. It's a shame that this is so, but generally I do not
like having to keep making more laws. But as long as businesses act this
way, then so be it.

The problem is that the current technology was developed for credit cards,
so if there was hold on a card for a few extra days, it usually did not
matter unless someone was maxed out on their credit line. When they run
debit cards through the same system, then it gets a little trickier, since
when a hold is placed, actual cash disappears from your checking account
balance.

The best thing is to not use debit cards unless you cannot qualify for a
credit card.

I would think the best thing would be to keep an accurate and knowledgeable
record of the amount that is in your checking account


I would think the thing to do was simply refuse to let you withdraw
more than you have in your account. Most banks offer this option now.
Thumper

"Thumper" wrote in message
...
I would think the thing to do was simply refuse to let you withdraw
more than you have in your account. Most banks offer this option now.
Thumper

Yes, but you will still not have instant credits and adjustments for
cancelled transactions. The chances of fraud are too high. The credit card
business is highly competitive, and eventually improvements will be made in
credit card processing. I don't think there is any reason for the government
to get involved yet in legislating instant credits and adjustments.

A large percentage of the fees and interest rates that merchants pay for
accepting a credit card and cardholders pay for using a credit card is
because of fraud. Obviously the other big expense are deadbeat or bankrupt
cardholders.

Manufacturers have stooped gining CC credit.

On Dec 22, 11:52 am, "Mark A" wrote:
wrote in message

...

Which is why they need to fix it, and if necessary, apply the force of law
to get them to do so.

Another option is to not use it if you don't like it.

OTOH, I advise people to avoid credit cards unless they are so strapped
for
cash that they need credit (but even then I urge them not to). Credit
cards
are a serious trap for a lot of people.

I have my credit card set to be paid on full each month from my checking
account. That should put the fear of God in most people.

I've a 10-year history of paying substantial CC monies, in full, at
each EOM. No blemishes, no return hassles, regular Steady-Eddy's
clean credit history. Last month, an online merchant sends me a
scaled-down model of what I order, a coffee grinder from Spain costing
$60 less, or charges me $60 more for the less expensive model, which I
received. Which I can live with, except I want my $60 back to made up
a difference for the actual or fair price the merchant advertised.
IOW, I'm being "workable" - no more shipping concerns, as little as
possible paperwork, just give me back my money you clipped me, SOB.
CC says last week they've seized the total amount charged me, $275
from merchant's bank, pending resolution ("get's their attention," per
one CC Disputes Rep. explanation to me). Yesterday CC "stock letter"
is in my mailbox: "We've closed the investigation, since you've
indicated willingness to accept charges". Same letter goes on to list
various credit rating institutions they'll notify if I don't pay in
full, inclusive an amount I was clipped or overcharged by said SOB
merchant. 'What the hell,' I call CC disputes last nite...'Oh, that's
a stock letter [pay no mind, we're still working on it as an active
dispute]', replies another word-of-mouth Disputes Dept. Rep., more
tersely than prior interlocutor. This one is new to me, and, Jesus
Christ, it's beginning to put the fear of the Devil in me. Until it's
over I won't know. What I'm wondering is, I hope to God I'm not
missing any significant part of the collective paperwork trail this
plays out for Stage 2, in case one ensues.