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You're getting your money back and a bit of everyone else's who has to use cash. Visa is splitting the ill-gotten gains from its market power with you so that y
by Noumenon72 9y ago
You're getting your money back and a bit of everyone else's who has to use cash. Visa is splitting the ill-gotten gains from its market power with you so that you'll help keep the system going. It's mildly unethical to use credit over debit. That 3% skim isn't from doing something socially positive, it's completely zero-sum.
- j45 9y agoLet's unpack what you're stating, I think you have misunderstood something: Retailers often include their half of CC fees in the price you pay at the till, regardless of whether a cc is used. This is on top of any fees you may pay. Since it's the retailer deciding to leave their CC fees in the retail price, I'm getting back my money on my purchase. It's the retailer who's keeping the extra few percent on their prices, not visa, or you, when someone is paying cash. The questions of ethics is interesting. While I appreciate the morality checks from strangers at any time, if the retailers are pocketing the extra %, instead of providing a cash/debit price, should disdain towards 'ill-gotten gains' be focused on each 'mildly unethical' retailer you are dealing with?