If ibill now charges virtual card transactions as cash advances... - GoFuckYourself.com

rowan · 10-27-2004, 10:39 PM

...won't consumers be up for more fees? If I do a cash advance on my credit card I pay interest from that moment. There are no interest free days on cash advances (in my part of the world anyway)

See this thread for more info on the virtual card thing that ibill is setting up:

http://www.gofuckyourself.com/showth...postid=5650206

Mike Okitch · 10-27-2004, 11:08 PM

Yes, some consumers will be hit up for more fees.

But charging back is way too easy as it is. To make it more difficult to do chargebacks will be a good thing in the long run.

Ibill does what anyone would do in this scenario; covering their own ass. The only problem is that it may already be too late for them. But time will tell.

rowan · 10-28-2004, 12:26 AM

To me this virtual card thing sounds like sticky tape and bandaids. If they're using it to get around Visa requirements then it's all going to come crashing down sometime in the future. We've seen what happens to other processors when they try.... (globill, WSB, PSW, ...)

10-27-2004, 10:39 PM	#1
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	If ibill now charges virtual card transactions as cash advances... ...won't consumers be up for more fees? If I do a cash advance on my credit card I pay interest from that moment. There are no interest free days on cash advances (in my part of the world anyway) See this thread for more info on the virtual card thing that ibill is setting up: http://www.gofuckyourself.com/showth...postid=5650206

10-27-2004, 11:08 PM	#2
Mike Okitch Confirmed User Join Date: May 2004 Location: Guantanamo Bay, Cuba Posts: 4,126	Yes, some consumers will be hit up for more fees. But charging back is way too easy as it is. To make it more difficult to do chargebacks will be a good thing in the long run. Ibill does what anyone would do in this scenario; covering their own ass. The only problem is that it may already be too late for them. But time will tell. __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.

10-28-2004, 12:26 AM	#3
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	To me this virtual card thing sounds like sticky tape and bandaids. If they're using it to get around Visa requirements then it's all going to come crashing down sometime in the future. We've seen what happens to other processors when they try.... (globill, WSB, PSW, ...)