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bajajudy
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It also may have absolutely nothing to do with the credit problems in USA. Visa and Mastercard are both serviced by the same processing companies and
Volaris may be having problems with them.
Amex does all its own processing and charges the merchants more too.
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bajalou
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Remember, it is only US Visa and Mastercards that Volaris isn't accepting.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
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And in the San Felipe area - check out Valle Chico area |
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Don Alley
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Anyone read financial news from Europe lately? Germany to guarantee bank deposits, and a plan to bail out a large real estate lender to the tune of 35
billion Euros (nearly $50 billion US) has failed. Belgium is trying to find a buyer for insurance giant Fortis.
From Voice of America:
"Governments across Europe are scrambling to save failing banks Sunday, a day after European leaders called for a more coordinated response to the
global financial crisis."
This is not simply a US problem. I suspect Volaris' refusal to take US credit cards is a Volaris problem.
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bajajudy
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You are correct Lou.
We do not take credit cards here so I dont know exactly how they work here. But it could be that their bank card service company is not taking the US
cards and that would indicate an even deeper problem.
Don...I agree with you. I dont think that John nor Jane sixpac have any idea how bad things might get.
The Asian markets were holding their own. We will see what this week brings.
I will check at Interjet in Mega to see if they are taking US cards.
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bacquito
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Ive also heard that credit card limits will be revised downward and some credit cards cancelled. The use of a credit card really reduces the need to
carry alot of cash. These are rough times.
bacquito
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flyfishinPam
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My merchant visa/mc deposits are taking longer than usual to get to our account as of 2 weeks ago. Our bank is BBVA.
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Baja-Brit
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We have a saying in the UK "When the US sneezes we catch a cold".
All eyes are on America.
The current "credit crunch" started there with the sub prime fiasco and what happens next has massive ramifications throughout the world.
The banks and other financial institutions have not only been irresponsible but also less than honest.
This has led to distrust between banks/credit card companies and other banks/credit card companies and are now unwilling to lend to each other
.........and now as it seems between credit card companies and retailers!
There is worse to come so tighten your belts chaps.
As you were.
[Edited on 6-10-2008 by Baja-Brit]
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Baja-Brit
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| Quote: | Originally posted by Don Alley
Anyone read financial news from Europe lately? |
Credit crisis: European responses
http://news.bbc.co.uk/1/hi/business/7654647.stm
As you were
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flyfishinPam
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another thing on credit cards that I was just made aware of last may 2008:
when running a card that gets declined, the amount of the attempted charge gets held by the bank for three business days. this is to say if its a
debit card that money gets taken out of your account and held. its bogus I know but its happening, so be aware of this.
i was told about this on two occasions during the summer and then in august it happened to me personally. i tried to purchase an item with my debit
card and the card was declined for no reason other than the person's terminal wouldn't (or couldn't) authorize the charge. the money was held for
three working days before being returned to my account (Bank of America). i purchased the item no problem with another company on the same card.
at this point our US dollar credit card deposits into our merchant account in Mexico are being held for three to five days where as before a couple of
weeks ago they were deposited the next business day. peso charges to american or foreign credit cards always took more time likely due to exchange
rate issues but this is us dollar processing I'm refer to. our Mexican bank associated with our merchant accounts is Bancomer, BBVA.
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stanburn
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Being a full-time Mexican resident, I don't find it that unusual that a Mexican company doesn't accept a US credit card. I have had trouble a couple
of times using my US credit card in Mexico and my satellite TV provider, Sky which is a Mexican company, does not have the ability to charge the
monthly payments to a non-mexican credit card.
It leads me to believe there are different levels of credit card service that Mexican businesses sign up for. Maybe Volaris has a lower level?
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Crusoe
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Credit situations are changing very fast now. All of Mexico will feel the U.S. sneezing and faultering. News sources such as A.O.L. and 24/7 Wall
Street, are reporting American Express's shares dropping 50% more than any others and cash strapped companys like theirs, such as Safeway,Circut City,
Tiffany & Co. and Apple are all on shaky unstable ground. ++C++
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danaeb
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The difference in the Volaris situation is this: up until two weeks ago they accepted US credit cards. I have used mine to purchase their tickets on
multiple occasions without problems. It's lack of confidence in US banks that is causing the problem. Mexican bank-issued cards are acceptable as
are AmEx (at least through yesterday).
Experience enables you to recognize a mistake every time you repeat it.
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bajajudy
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| Quote: | Originally posted by stanburn
Being a full-time Mexican resident, I don't find it that unusual that a Mexican company doesn't accept a US credit card. I have had trouble a couple
of times using my US credit card in Mexico and my satellite TV provider, Sky which is a Mexican company, does not have the ability to charge the
monthly payments to a non-mexican credit card.
It leads me to believe there are different levels of credit card service that Mexican businesses sign up for. Maybe Volaris has a lower level?
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We pay for Sky with our Amex US credit card.
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Tiomiguel
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I agree with Cruso, the word from Kramer on CNBC is that the one to watch out for is American Express as they are not a deposit taking institution so
all of their float etc. comes from corporate borrowing, ie. the other part of the problem out there, liquidity. Seems silly to accept it and not
visa, somebody is making a bad decision that will have a big effect on their business.
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Stickers
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| Quote: | Originally posted by oxxo
| Quote: | Originally posted by bajalou
I think much of the world view the financial problems in the US much more seriously than the average American who thinks "This really can't effect
me." |
I agree. I think it is entirely possible that some American businesses my stop accepting Visa/Mastercard for purchases in the near future. This
could hit home sooner than we might think. My family is making contingency plans, just in case. |
Of all the companies plagued by financial problems I certainly never thought it was credit card companies. They have license to steal and seem to
make a billion dollars a day financially enslaving American consumers.
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woody with a view
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Kramer is a Kommie.
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