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It is a pull. You bear the costs of fraud whether you notice them or not. The fact that the credit card company hides those costs from you doesn't change the fa
by darawk 9y ago
It is a pull. You bear the costs of fraud whether you notice them or not. The fact that the credit card company hides those costs from you doesn't change the fact that their architecture is broken, and that you are still paying for it by virtue of the fees they charge merchants, which create higher sticker prices for you. Costs like that don't simply disappear into the ether - you, the consumer, pays them.
- empthought 9y agoPrecisely none of that is "Every time you use your credit card, the store takes money from you."
- darawk 9y agoIt's a pull architecture. Pull architecture is wrong, push architecture is right.
- vageli 9y agoEvery consumer who doesn't use credit cards also bears the fees since it is rare to find a merchant that offers a "cash discount".
- darawk 9y agoYa, also true, and good point.