Ann: 2017 AGM Presentation, page-88

First 88 Last

Share
Profile

Follow
nichw1

227 Posts.

29

25/11/17

16:22

Post #: 29114204
Share

Originally posted by Fike ↑

I do not know whether to laugh at your response or feel sorry for you but here goes.

If you look at the front page of their report it says losses in 2016 were $3.7 and in 2017 losses were $14.4 @ the comment says losses went DOWN 289% . No the did not. They went UP 289%. If you cannot understand that then you cannot add up.

Also it is clear that many on here do not understand the basics of credit cards so here are the basics. The bank issues a credit card with a limit. When you go to a store or online and give them your card . They swipe. If the transaction is accepted the retailer hands over the goods. The bank and card co now have full credit risk for the transaction the retailer does not. Regardless of fraud or default the retailer has NO liability or risk unless they participated a fraud. Once the online system accepts the card the retailer is clear - even if th card is stolen,!!!!!

The retailer will get the full value of the transaction less the merchant fee which is just over,1%. If it's a fraud or the customer defaults all the liability is with the credit card company. That is why retailers will hand over a$5000 watch if the card is accepted at the time of the transaction. It will be the credit card co that chase says you for the debt or fraud.

That's why credit card interest is around 20% .

AMEX is not a credit card it is a charge card. They charge the merchant over 3% but do not collect or charge credit from the consumer. They do charge late payment fees - around $50 I think. The high merchant fee is why so many retailers etc. refuse to accept AMEX.

Now I see why there are so many misguided comments about APT. Many on here do not even understand the basics of credit card fees and liabilities.

Expand

AMEX has a interest rate of 20.74% PA aswel as late fees..... Idk what AMEX your referring too but you can find those figures on their website!

APT Price at posting: $5.23 Sentiment: Hold Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched and most discussed stocks this week

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Trump is President Again: What Does This Mean for Crypto?