From large retailers to small liquor stores, occasionally a merchant will ask for identification when you’re using your credit card.

Well, for those that don’t know it, this practice is against VISA, MasterCard and American Express policies (I’m assuming Discover Card too). While a merchant can ask for your ID all they want, they should not refuse to complete the transaction if you refuse to show your ID.

When a merchant suspect fraud, among other things, they should check and compare the signature on the sale receipt to the signature on the back of the credit card. If they suspect fraud, they should call the card issuer. You should note that your credit card is not valid unless you’ve signed the card. “See ID” is actually not a valid signature, and some merchants will not complete the transaction unless you’ve signed the back of your card.

For some reason, this topic is always something that cause a lot of beef among people.

On one hand, you have merchants that refuse to complete a transaction until they see some form of identification, and on the other hand you have customers that are strongly against showing their identification. And even more, you have some customers that hates it when merchants don’t check ID.

Some people don’t like to show their ID because they don’t want to disclose unnecessary personal information.

Me, I don’t mind so much. I try not to be a hardass about it. When I’m lazy to pull out the ID, I’ll say no. Most of the time they’ll complete the transaction anyway (because they’re suppose to). If they say something about it, I mention that it’s against the policy and that would be the end of that. Occasionally I’ll show the ID just to get on my merry way. Most of the time, I’m not too worry about a shady employee memorizing my name, address, and other info within a quick glance.

Not really sure why people get so worked up over this though. Take what I read over at Fatwallet’s forum for example, where a person walked out of a supermarket with a cart full of grocery because the cashier refused to complete the transaction until they see an ID. Talk about spending a lot of time to prove a point.

Personally I think if everyone would just follow the rules, this wouldn’t be an issue at all.

It’s bloody brilliant.

Uh.

I mean I hate it.

It’s one of my nemesis. Every time I head into a Target store, I give the $1 Spot a good hard stare. Show it who’s boss and all.

But seriously, when I first saw it awhile back, I was blown away at how effective the $1 Spot in Target was. It’s the ultimate “I don’t need it but it’s cheap so I’ll buy it” strategy.

If you pay attention to the Targets in your region, you’ll notice that the $1 Spot has a lot of depth behind it. At first glance it may look like just a messy pile of discounted items - but don’t let that deceive you.

The items scattered in the $1 Spot are organized mess. That is, they purposely made it look like that. It gives a neat “treasure hunt” effect to shopping. People will dig through the items, hoping to find a “bargain.”

“Hey look what I found!” exclaims one victim shopper.

“Oh wow, I can’t believe they have that for only $1!” says another.

And where’s the check-out aisle? Yup, right next to the $1 Spot.

As mentioned, upon closer inspection, you’ll also notice that each Target in your region may be carrying different items in the $1 section. Simple reason is to effectively gauge how well a certain type of product may sell in a particular area. They throw in a different product mix and see how well it’ll do in a particular week. Eventually, they’ll be able to dump the right products in the $1 Spot with the right quantity.

The products offered are carefully selected too. They’re generally those things that you don’t need at the moment, but might need later on in the future. Office supplies are a great example. Notebooks, pens, and pencils for $1? Don’t need them? Already have them? Who cares, they’re cheap, grab them now because you might need them later.

Never mind the fact that a pack of pens and pencils further down the aisle will be of comparable price (or cheaper).

Discounted price strategy may not be anything new, but among the things mentioned, the $1 Spot utilize atmospheric strategy too. It gives a lot of effect to the entire shopping experience. If you found something you need for such a low price, it might have made you feel a bit better. It might make you want to shop more. Even better, since its a dedicated, localized section, it doesn’t affect the rest of the store’s atmosphere. The bargain store feel should be in that section, and that section only.

Let’s not forget the placement. Where do you first see the $1 Spot? Right when you walk in. It’s the first thing you see when you enter, and the last thing you see when you leave.

Every time I go to Target with another person, I’ll hear “Ooh, the $1 Spot. Hold on, let me see if I can find something.”

Bloody brilliant, I tell ya.

… because I don’t have health insurance.

Health insurance = $$$

Lack of health insurance = $$$ x 50
(when you are seriously ill)

Like many college students, I’m without health insurance. Ever since my mom decided that having me on her policy was costing her too much money, she cut me off (ouch).

“Don’t get sick.” She told me.

Nice.

Anyhow, unfortunately the current community college I’m enrolled in doesn’t have any health insurance plan for its student, since the student body isn’t of any significant size. I use to have a minimal coverage health insurance plan at my previous university, but that’s over with, since I’m no longer a student at the university.

So I’m hunting for health insurance plan, specifically ones discounted for full-time students. If anyone has any suggestions, I’m all ear.

In the meantime, I’m going to keep hoping I don’t get sick.

From Ian Ybarra, a StopBuyingCrap.com field report

I was in Chicago with my girlfriend a few weeks ago. We slipped into a Payless Shoe Source to (depending on whom you ask) “kill some time” or “shop for shoes” before a show.

I saw another woman pick up a small handbag and rush it over to her boyfriend to show him what she found.

“What do you think?” she said.

“It’s nice,” he replied.

“I think it’s kind of cute. But it’s not quite what I was looking for.”

“What were you looking for?”

“I don’t know. But this is only $9.99, so maybe I should get it.”

She took the bag to the checkout counter and bought it. It was only $9.99.

Payless is making a fortune by selling crappy shoes and handbags that look a little snazzier than the crappy shoes and handbags at Wal-Mart because people who don’t know what they want anyway don’t worry about buying stuff that’s only $9.99.

Yeah, it’s only ten bucks, but it’s more than ten bucks when you’re buying crap you don’t need (or want, for that matter). It’s stupid.

According to today’s WSJ’s Personal Finance section, Bank of America is lowering their online trading fees for customers who already have accounts with them.

The per trade comission fees are now at various levels, depending on your relationship with the bank. $5 per trade for some selective customers, $7 for customers with selective checking accounts, and $10 for any customers wtih their basic checking accounts.

The decrease in comission fees (including some maintenance fees) are quite a big drop, but their investment service still has too much miscellaneous fees attached to these accounts. The rates from other online discount brokers are still much much cheaper.

Still, for those that are already using Bank of America’s investment service, this is a nice cut in fees.

Here’s a list of fees and comissions from Bank of America’s site.