Tuesday, August 17, 2010

Have a Coke and a smile via credit card

Have become so desperate for our carbonated beverages and bottled water that we can no longer wait until we have cash or coin?

They just installed this in our building. I mean really. Can we not have at least 75 cents in our pocket, wallet or backpack?

I guess all things will become this "convenienced" but it's just downright weird to me.

I think of it this way: I pay for a 75 cent 12oz can of coke with my Visa. If I have a balance on the credit card that I'm not going to be able to immediately pay off when the bill is due, that 75 cents will get something like 8% interest (we'll just assume that not all the 18% interest will go straight to the Coke purchase but will be spread over the entire card balance - I don't know for sure if that's how it works and really don't care because I wouldn't purchase a 75 cent Coke on my credit card but let's just go with it). Now that convenient 75 cent coke is now 81 cents. Next bill rolls around and you make a payment but cannot pay the balance off. That 75 cents (overall balance) may have been reduced by the payment but it still is going to get added interest. And so on...

You get the point, right? I personally prefer not to pay more for a convenience versus a necessity than I have to and waiting until I can purchase a carbonated beverage with a full lunch/dinner or wait until I get change or just do without is a much more intelligent choice to me. However, I work on a college campus where mother and father pay for EVERYTHING for these students and the students have no sense of responsibility much less remorse at paying more for something than it's worth.

No comments: