53
votes
How were US credit cards verified in-store in the 1980s?
How did merchants verify the acceptability of a credit card back then?
Nowadays, even every little rural general store seems to have a
high-speed Internet connection that they use to ...
- 145k
50
votes
How were US credit cards verified in-store in the 1980s?
Up to a certain dollar figure, the issuers indemnified the merchant from fraud.
Above that dollar figure, the merchant made a phone call into an agent-driven or automated system, and supplied their ...
37
votes
How does the government shutdown affect tax returns?
During the partial shutdown of the US Federal government, the IRS will continue to collect tax and process income tax returns, but refunds will not be paid out until the shutdown has ended. There ...
- 2,131
26
votes
Accepted
Why does the Nikkei 225 appear to be such a bad long-term investment?
The Japanese economy has had a unique history, with a huge bubble in the 1980s and a long unwinding afterward.
I don't see why that would result in a market that appears to have brief periods of ...
- 30.3k
22
votes
How were US credit cards verified in-store in the 1980s?
Stores didn't verify cards. If the card wasn't expired, they used it. At best they might ask for a driver's license to match the name. If they were particularly worried, they could call the bank to ...
- 2,116
15
votes
How does the government shutdown affect tax returns?
The bottom line is that no one knows, and it is dependent upon your particular situation. This is pure speculation, but I think that most people will not be affected. Given that W-2s are employer ...
- 79.6k
11
votes
Accepted
Presenting negative numbers using parentheses: where does this practice come from?
I'd love to see if someone can find a convincing origin story for the practice, but I believe it became adopted simply because parenthesis stand out more than a negative sign.
Think of a hand-written ...
- 71.2k
7
votes
Why is interest paid on the outstanding amount instead of the whole amount of a loan?
For example, for a 100.000 loan with a 10% interest, basic logic would imply that you have to pay back 110.000.
No. The interest rate is usually given per year, so for each year I owe you 100,000, I ...
- 5,460
4
votes
Accepted
How can I regain my credit history after having legally changed my name?
Your credit history should follow you despite any changes in personal details (name, address, or even SSN). However, the real world is often messier than that, as you are discovering. But - that said -...
- 17.1k
4
votes
How does the government shutdown affect tax returns?
The IRS may process refunds normally
The Donald Trump administration claims that they will refund taxes during the shutdown. From the New York Post:
Taxpayers who are owed refunds will be paid ...
- 21k
4
votes
Why was Kittery a shopping destination in the 1980s?
I had the same experience as a kid in the 80's. I think there are three reasons, and none of them relate to taxes:
Kittery Trading Post was (is?) an awesome store.
LL Bean was close by so trips to ...
- 7,571
2
votes
What did a stock exchange look like 200 years ago?
Before computers, the stock markets operated on trading floors. The brokers would shout on top of each others voice to find a match. There was no way to match best trades. It was the price 2 brokers ...
- 57.2k
2
votes
How were US credit cards verified in-store in the 1980s?
It was 1982; I was in my early 20s and working my first adult job. I applied for the original American Express card which was a NPSL charge card. They used to mail out card applications back then; ...
- 21
2
votes
Why is interest paid on the outstanding amount instead of the whole amount of a loan?
The question conflates loans like bonds with loans like mortgages.
A bond works like the example, borrow $100,000 and pay $10,000 in interest each year. At some point, the borrower has to pay off ...
- 8,419
2
votes
Accepted
Why did the VIX trade for so much around Q4 2011?
You needed 25 million shares in 2011 in order to have one share today, due the SEVEN reverse split actions on that ticker. Those 25 million shares would have cost you roughly 2 billion USD.
Source: ...
- 6,788
2
votes
Accepted
Prior to COVID-19, had any country fiscally targeted unvaccinated individuals?
Depends on your definition of "fiscally targeted", but in Slovakia, refusing compulsory vaccination(s) was an offence (priestupok – infraction or misdemeanor, whatever is the correct ...
- 967
2
votes
Why does the Nikkei 225 appear to be such a bad long-term investment?
Nanoman explained the Lost Decade, and that explains the period from the late 1980s through around 2003; massive growth (that was far more than it should have been) followed by a massive collapse both ...
- 35.9k
2
votes
Accepted
Why is interest paid on the outstanding amount instead of the whole amount of a loan?
In a comment, you provided the following statement - which I feel is critical to understanding where your logic is breaking down (when compared to typical modern lending practices):
You can stretch ...
- 17.1k
1
vote
Why don't I see any dividends in my Fidelity Personal Account?
I can imagine 2 possibilities.
Your dividends are being deposited into your account as cash. If this is the case, you'll have to contact Fidelity to determine why they aren't being reinvested as per ...
- 16.2k
1
vote
How can I regain my credit history after having legally changed my name?
It said that lenders typically wanted to see that I had lots of experience with borrowing responsibly.
That doesn't mean that your history is missing. You said that you had no history under your ...
- 6,788
1
vote
Why is interest paid on the outstanding amount instead of the whole amount of a loan?
What are some of the reasons a lot of loans work like this now?
Very simply: Regulations.
You won't find a loan where you get quoted an amount as interest. You won't find a loan where you get quoted ...
- 2,778
1
vote
How were US credit cards verified in-store in the 1980s?
I worked at a gas station ~1988. We still used a "knucklebuster" to process credit cards, however, we had a separate swipe terminal inside the station for verification. This apparently was a stripe ...
- 263
1
vote
Why was Kittery a shopping destination in the 1980s?
Did Maine have local sales tax free zones?
Sales tax can be set by states, counties, and cities, where the total or combined sales tax rate is the sum of each individual tax rate. Currently, while ...
- 6,839
1
vote
Accepted
How should you calculate the average daily return on an investment based on a history of gains?
[(1+return1) * (1+return2) * ...]^(1/n) - 1 calculates the geometric average daily return. To annualize it: [(1+return1) * (1+return2) * ...]^(250/n) -1.
I used 250 because that is approximately ...
- 2,791
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