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Contributed by mm | May 30, 2005 8:12 AM PST
No surprise that people are swiping cards more often at quick service restaurants. I'm so glad I don't have to handle all the changes when I buy my lunch at McDonald's.
From CardWeb:
This year, several major chains, such as Burger King and VISA, have launched promotions to encourage card use. Also, the recent introduction of contactless payments, such the new "Chase blink" card, may also help to accelerate card usage in the fast food market this year. Last week, VISA reported that its QSR volume was up 59.3% to $3.5 billion during the first quarter. VISA's "Small Ticket Payment Service" volume, which includes the quick service restaurant category, was $22.6 billion, a 19.7% gain over 1Q/04. The fast food market is estimated to produce about $140 billion in annual sales.
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Your Monthly Credit Card Minimum Payments Are About To Double (May 31, 2005)
I only see all these organizations are intervening in the wrong place: a lower minimal payment percentage is pro-choice. A more meaningful intervention would be to request banks to show number of months to pay off balance with different monthly payment level.
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