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Most of the rest of the world uses debit, and as a result enjoy very low transaction fees. Credit cards have much higher, and highly variable, transaction fees
by cmurf 9y ago
Most of the rest of the world uses debit, and as a result enjoy very low transaction fees. Credit cards have much higher, and highly variable, transaction fees that cost merchants and thus all consumers, money.
- criddell 9y agoIf merchants gave me a discount for debit, I might use it more.
- revelation 9y agoAmerican credit card companies have lobbied successfully and now have blatantly anti-competitive most favored nation clauses that make it impossible for merchants to charge you anything other than the credit card price.
- criddell 9y agoI think most of those rules have been thrown out in recent years. Visa and Mastercard don't do but I'm not sure about other groups. There are gas stations near me that post a credit and a cash price.