Credit Card Signing Threshold
Even if you filled your grocery cart with $20/lb. cheeses, $8.99 organic gallons of milk, exotic truffles, etc., you’d be hard-pressed to spend $1,000 at Whole Foods (at least in a single visit).
So, it was surprising to learn that, at least for credit card purchases < $1,000, Whole Foods no longer requires a signature.
That easily eclipses the previous signature-free ceiling I was personally aware of: $200, at Costco.
But then, you’d certainly guess that the average purchase amount at warehouse-style Costco is significantly higher than Whole Foods, even after accounting for the two stores’ very different mark-up’s.
Maybe the $1,000 credit card limit is because — at least to Amazon founder and now Whole Foods owner (and gazillionaire) Jeff Bezos — $1,000 literally seems like 1¢ . . .
P.S.: Even that 100,000 : 1 ratio vastly understates the magnitude of the wealth disparity (by a factor of 20, to be exact).
Assuming that Mr. Bezos now has a net worth of $100 billion (give or take), and the average American is worth $50,000 (optimistically), Bezos is 2 million times richer than the average American.
