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Heath Korvola/Getty Images Cash is king when it comes to pot.Credit card companies don't make the distinction between those who want to buy marijuana for medical reasons and those who buy it for recreational purposes."Most merchant services companies do not want to accept credit card transactions from cannabis businesses," says Kristi Kelly, executive director of the Marijuana Industry Group, a non-profit trade organization for licensed cannabis businesses. Discover and American Express confirmed they don't allow cardholders to buy medical or recreational marijuana. Mastercard pleads the Fifth, acknowledging the legality isn't clear-cut."The federal government considers marijuana sales illegal, but is currently not challenging state laws that legalize marijuana sales," says Seth Eisen, a company spokesman.Check your browser, slow your clicking, and you probably won't ever have to do this again.
A credit card account involves an agreement between a lender and a consumer.
The lender agrees to make a specific amount of money available for the consumer to spend, known as a credit limit.
Many of this industry’s practices are unethical but legally enforceable (for now).
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While credit companies typically want you to pull out their credit card for a purchase, the payment networks -- American Express, Discover, Mastercard and Visa -- won't approve transactions that are treated as high-risk activities or run afoul of federal law, even if state laws allow it.
If you're intent on buying one of these naughty things, "it pays to discover" they can't be bought with your credit card.
Ryan Deberardinis / Eye Em/Getty Images You've probably heard this priceless slogan before: "There are some things money can't buy.
For everything else there's Mastercard."Well, it's not exactly true.
However, before anyone begins to use a credit card, it's important to understand exactly how they work.
Because credit cards are actually a type of a loan, there are important details to consider for anyone choosing to use them.
Did you know that a Merchant Account contract is one of the most important documents you can sign for your business? Because a bad processor can literally take you out of business.Tags: Adult Dating, affair dating, sex dating