Subject:
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Re: X.com... good idea, good execution?
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Newsgroups:
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lugnet.market.theory
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Date:
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Fri, 11 Feb 2000 21:09:18 GMT
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Viewed:
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737 times
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Troy Cefaratti wrote:
>
> > The thing that makes the X.COM system unlikely to change is the $1000 per
> > every six month limit on credit card deposits.
>
> Ahhh....having not signed up for X yet, I did not know about this provision.
> Still, it was mentioned that they were thinking about changing it so that
> they would show up as cash advances. I know on my cards atleast, cash
> advances did not ocunt for any of the programs. So even though it isn't
> much, the card companies might actually pressure X into this, since you
> aren't actually buying a product.
Also, on most cards I've seen, there is a cash advance fee, and cash
advances don't have an interest free grace period. This is my concern
with x.com, and why I asked about this. If deposits are charged as a
cash advance, it will cost you money to make the deposit. Of course this
will dramatically reduce the desireability of the service unless you
keep a running balance in the account (which is ultimately what they
want). I would guess that within a year or two, the x.com account won't
look any different to a regular checking acount at a major bank
(complete with a monthly fee if your balance is below X). Still usefull,
but not as usefull as it is now.
--
Frank Filz
-----------------------------
Work: mailto:ffilz@us.ibm.com (business only please)
Home: mailto:ffilz@mindspring.com
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Message has 1 Reply:
 | | Re: X.com... good idea, good execution?
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| (...) I don't really see what difference it makes if the deposits are treated as cash advances or purchases, unless you're only talking about using actual credit cards for that. I've used my visa check card twice now to make deposits to my X.com (...) (25 years ago, 11-Feb-00, to lugnet.market.theory)
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Message is in Reply To:
| | Re: X.com... good idea, good execution?
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| (...) Ahhh....having not signed up for X yet, I did not know about this provision. Still, it was mentioned that they were thinking about changing it so that they would show up as cash advances. I know on my cards atleast, cash advances did not ocunt (...) (25 years ago, 11-Feb-00, to lugnet.market.theory)
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