Author Topic: PSA: Don't swipe recklessly for others  (Read 215723 times)

Offline zale

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Re: PSA: Don't swipe recklessly for others
« Reply #3120 on: March 06, 2019, 01:04:46 AM »
Correct.

It's a third party bank that processes the transaction to get the money to the merchant.

Here is a good article explaining it

https://www.vantiv.com/payment-processing/how-credit-card-processing-works

Maybe Iím missing something, but that article seems to say that the funds come from the issuing bank.

Offline chff

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Re: PSA: Don't swipe recklessly for others
« Reply #3121 on: March 06, 2019, 01:28:28 AM »
The cc issuer is not the processing bank?

If you get a card from Chase, Chase doesnít process the payment?

Chase has a separate division that does payment processing > chasepaymentech.com

The payment processors are such like First Data or Elavon (Elavon is subsidiary from US Bank and airlines is one of their specialty)

Offline Ephraimh

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Re: PSA: Don't swipe recklessly for others
« Reply #3122 on: March 06, 2019, 09:00:24 AM »
Be sure to record it yourself in case of edits!!!
Also, he will prob have the attitude of m many wealthy people that credit card churning is for poor uneducated people and that it's just a way to take advantage of credit card companies. His undertones are very loud. Since he runs the show, the only way you can outshout him is by quoting real numbers and facts and citing sources. You can't just tell him "the credit card companies want people to sign up because most people....."
Also, he'll def challenge you on going against T&c by selling points.
You'll prob want to explain how the banks strong-arm the cardholders when they are in the mood, how they shut down and steal hard-earned points at their discretion. Also, the way they devaluate points and how points don't have legal cash value.
Lastly, tell him not to compare the Amazon tragedy to 9/11. And don't forget to talk about wealthy people declaring bankruptcy to save their assests. Ask him if that's also against his ethics.
Lol Iíve never listened to his podcast but from the way you and others describe his attitude it sure sounds like he has a massive arrogant chip on his shoulders..

Offline sruly

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Re: PSA: Don't swipe recklessly for others
« Reply #3123 on: March 06, 2019, 09:50:32 AM »
Math would be relatively simple its the data you need but assuming a straight 2% return every time their card was swiped for 200k would mean a $4k gain. now you just need to know how many times it was swiped and paid back before defaulting.
Something you haven't considered is all the sign up bonuses that they were able to hit that they wouldn't have otherwise.
Also alll the yearly bonuses for hitting spending thresholds (extra points, free nights, status etc.).

Offline aygart

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Re: PSA: Don't swipe recklessly for others
« Reply #3124 on: March 06, 2019, 09:52:19 AM »
Lol Iíve never listened to his podcast but from the way you and others describe his attitude it sure sounds like he has a massive arrogant chip on his shoulders..
Keep in mind that his credentials to be discussing halacha are that he is wealthy.
You have the right to remain silent. Anything you say can and will be used to start a religious discussion.

Offline aygart

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Re: PSA: Don't swipe recklessly for others
« Reply #3125 on: March 06, 2019, 09:53:19 AM »
Kind of surprised you needed that in for a group on the Antarctica cruise.
For all the raffle winners :D
How many paid for the cruise using a credit card?
You have the right to remain silent. Anything you say can and will be used to start a religious discussion.

Online joey89

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Re: PSA: Don't swipe recklessly for others
« Reply #3126 on: March 06, 2019, 09:53:44 AM »
Something you haven't considered is all the sign up bonuses that they were able to hit that they wouldn't have otherwise.
Also alll the yearly bonuses for hitting spending thresholds (extra points, free nights, status etc.).
They were also only cycling their cl once every 2 months. So based on the assumptions in this scenario they were making 24k a year.

Offline Yard sale

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Re: PSA: Don't swipe recklessly for others
« Reply #3127 on: March 06, 2019, 10:02:26 AM »
Keep in mind that his credentials to be discussing halacha are that he is wealthy.

He is quite sharp and smart, donít take that away from him, but he does have the platform because of his wealth, and he will come in with his preconceived ideas. For example in one podcast from  what I remember (you can listen to the archives) he was pushing the idea of a skirt having to be four inches below the knee, as well as other guidelines was bogus, and therefore not binding,  and he seemed to suggest that not only a tefach of hair but even a tefach above the knee should be ok according to the beis Yosef and others. So he definitely will come in with an agenda. He is smart and has yedios- he can quote relevant Gemara and teshuvos so itís not like he is just blustering. [edited for accuracy]
« Last Edit: March 06, 2019, 10:36:16 AM by Yard sale »

Online TimT

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Re: PSA: Don't swipe recklessly for others
« Reply #3128 on: March 06, 2019, 10:17:59 AM »
For example in one podcast from  what I remember (you can listen to the archives) he was pretty relentlessly pushing the Rabbonim he interviewed to admit that the idea of a skirt having to be four inches below the knee was bogus, and he was even trying to push the idea that a tefach above the knee should be ok.
Who won that round ?

Offline Yard sale

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Re: PSA: Don't swipe recklessly for others
« Reply #3129 on: March 06, 2019, 10:28:56 AM »
Who won that round ?
He had Rav Dovid Cohen who agreed with him that many of the tznius guidelines such as long skirts , type of material etc. are opinions of poskim rather than clear halachos with a mekor, but pushed back when Lichtenstein suggested that based on a teshuva of Rav Moshe allowing a tefach of hair to be uncovered etc. there is no obligation to follow guidelines that are machmir , pointing out to Lichtenstein that in places where this is the accepted mode of dress, to dress otherwise becomes assur....

Somehow Rav Falk never made it onto his show....

Offline Menachem613

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Re: PSA: Don't swipe recklessly for others
« Reply #3130 on: March 06, 2019, 10:31:13 AM »
He had Rav Dovid Cohen who agreed with him that many of the tznius guidelines such as long skirts , type of material etc. are opinions of poskim rather than clear halachos with a mekor, but pushed back when Lichtenstein suggested that based on a teshuva of Rav Moshe allowing a tefach of hair to be uncovered etc. there is no obligation to follow guidelines that are machmir , pointing out to Lichtenstein that in places where this is the accepted mode of dress, to dress otherwise becomes assur....

Somehow Rav Falk never made it onto his show....

Good.

Offline MrKaplan

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Re: PSA: Don't swipe recklessly for others
« Reply #3131 on: March 06, 2019, 10:32:02 AM »
Keep in mind that his credentials to be discussing halacha are that he is wealthy.
+1 Never understood this

Offline Yehuda57

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Re: PSA: Don't swipe recklessly for others
« Reply #3132 on: March 06, 2019, 10:33:00 AM »
+1 Never understood this
Start your own podcast
Quote from: ExGingi
[Stating things eloquently] seems to be Yehuda57's job around here :)

Offline Yard sale

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Re: PSA: Don't swipe recklessly for others
« Reply #3133 on: March 06, 2019, 10:35:21 AM »
Good.

May be good, but itís indicative of the fact that he will come in with an opinion and will take one side of an issue and tilt the show toward it....

Offline Menachem613

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Re: PSA: Don't swipe recklessly for others
« Reply #3134 on: March 06, 2019, 10:55:20 AM »
May be good, but itís indicative of the fact that he will come in with an opinion and will take one side of an issue and tilt the show toward it....

Sounds like every person with a radio show or equivalent.