>About thirty years ago I stopped using my credit cards. I still made purchases but I paid cash. One day I received a letter from one of the stores which stated, "You are not using your credit card! You are hurting our company by not doing so. We are dependant upon the 22 1/2 percent interest rate required by credit card purchases".

I actually never understood this. Maybe I simply am incapable of understanding it, having learned my economics in a completely different world (yes, another child of socialism). I'm getting anywhere between 30 and 60 offers for various credit cards each year. They all promise no interest charged if you pay on time, or something to that effect - I've never managed to understand all the terms. So where does the 22.5% apply, and who gets it? The credit card company or the seller? I thought the retailer actually gets less when you pay using a credit card, because he has to pay to someone to validate it (and that's about 4% or so), but they still go ahead because people are more ready to spend money when they have a feeling they're not really paying, so they spend more. And the retail gets money immediately from the creditor - but then, cash is even more immediate, albeit it has its own cost in security issues. So, what's the deal, actually?

I'm sticking to my debit card. Has all the advantages of plastic money, and no (percentual) strings attached.