VIDEO: VISA Is A Monster That Feeds On Human Wealth, And VISA Is Hungry

“Go. Get it. Run. Use your VISA card right now. It doesn’t matter what you use your VISA card to buy. It doesn’t matter what you use your VISA to buy. All that matters is that VISA is a monster that feeds on human wealth. And VISA is hungry.” The credit card companies’ rapacious desire for your debt is laid bare in this commercial parody video. I guess you would call what we’re going through now the purging stage? NSFW due to naughty words and suggestive simulating gestures.

If you have problems with debt, you can learn how to save money on your credit card bills by using a “clean” credit card, get inspired by this mother who paid of $50,000 in debt, and, if you’re really in trouble, consider freezing your credit card in ice.

VISA is Hungry! [UCBcomedy]

Comments

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  1. blinky says:

    Visa never gets any of my money; it gets it from the merchants who accept it. If the merchants don’t like it, they can certainly offer a discount for cash. It’s difficult to picture visa as a monster when people can simply stop using their cards at any time.

    • sspeedracer says:

      No doubt. I’ve had many merchants use my debit card as a credit card despite the added fee THEY have to pay. Amazing.

      The only time anyone offers me a cash discount its because they don’t want to report income.

      • AustinTXProgrammer says:

        We have a large liquor store chain that offers a 5% cash discount, good for cash, check, or debit.

    • MitchV says:

      Do you not understand that merchants don’t incorporate Visa fees into their prices? While it may not be broken out on the receipt… you’re paying that fee.

      • AnthonyC says:

        The problem here is the fallacy of composition.

        It is good for me, personally, to use my credit card to buy this. It enables me to have an automatic record of my purchases, to gain certain protections and benefits if there is a dispute/problem with the merchant, and it allows me to earn rewards (basically 1% off) on things I would buy anyway.
        It is not good for me if everyone does this, because then the merchants will raise prices to compensate.

        The question is: are the benefits offered by credit cards worth the added price?
        In the US, transaction fees are 1-3%, or sometimes even higher. Other countries regulate these fees (sometimes as low as .5%). At what price does a credit card become worth it?

  2. Blinkman987 says:

    This post isn’t about Best Buy, KFC, tipping gratuity, Comcast, or some other thing that is just a drop in the bucket as compared to how people are actually subjugated into a life of indentured servitude and debt maintenance. Instead, it’s a video that openly mocks consumerism as a whole and the concept that the best business around is simply to put yourself between a transaction and skim a little off the top.

    That is why this post only has 6 comments.

    • tr41nwr3ck says:

      So true. Ignore that 800lb. gorilla. Like how people in the know saw the housing bubble YEARS before the mainstream media.

    • alulim says:

      I found it humorous and sobering. Obviously the over consumption (its glorification and spread) of our culture will cause future hardships. You want a “rant”, STFU. The only way to begin to address the subject is making changes in behavior; encouraging your friends to do the same. No number of posts will ever equal that.

  3. DookieInThePool says:

    And… Visa (or MasterCard, Discover, etc) isn’t exactly benefiting off your debt, that’d be your bank that issued the card. Visa makes their money from processing the transaction and couldn’t care less if you pay it off immediately or pay it off in a year, they make the same regardless.

    • jamar0303 says:

      Nitpicking, but in most cases Discover does directly benefit from your debt if you leave it any because in most cases they directly issue the cards that go over their network. The only exceptions are JCB and China UnionPay which have reciprocal agreements to use the other’s network for their cards. In those cases there’s usually an issuing bank in between, whether it be HSBC, Bank of China, AEON, Bank of East Asia, or some other entity.

  4. The Lone Gunman says:

    I make my own VISA cards at…..hold on.

    Never mind. I was NOT going to admit that on an open board.

    Everyone go into Sgt. Schultz mode. You see nothing. NOTHING!

  5. frank64 says:

    Look at Visa’s Income statement:$ 6.91 in revenue and a cost of goods of 1.6 B, making their gross margins 80% !!!!!!!! This is more than Microsoft.

    Having the merchants pay it and spread the costs over the whole customer base allows them to hide the cost from the person using their products. The rules they lobbied for make it nearly impossible to offer a cash discount in a normal retail environment.

    None of the companies we complain about makes this much money off their customers, but most defend Visa’s right to screw us because the costs are hidden and they are fooled into believing they don’t pay it.

    http://www.dailyfinance.com/financials/visa-inc-visa-inc/v/nys/income-statement

    Here is a good article on it:
    http://www.newrules.org/retail/news/soaring-credit-card-transaction-fees-squeeze-independent-businesses

  6. devilsadvocate says:

    19.5%, 20%, 26%, are you SERIOUS? who would willingly sign up for these rates?
    I would cancel my card but I am afraid it will hurt my credit and some businesses I do business with offer preauthorized payments via credit card which is… convenient for me? I don’t really use my card for anything else other than pre-auth payments TBH

    Also I just found out that putting your card in a block of ice won’t stop you from owing them money! Most credit card holders aren’t even aware that there are hidden ‘balance protection’ programs that they are automatically enrolled in when they sign up for the card.