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I think the points are fully paid by avg 21% APR, $37 late fees, interchange fees, foreign transaction fees(2%) and ATM fees on credit cards. Its just greed.
by altmind 8y ago
I think the points are fully paid by avg 21% APR, $37 late fees, interchange fees, foreign transaction fees(2%) and ATM fees on credit cards. Its just greed.
- liquidwax 8y agoSaw a video by vox today where they argue that the points are also paid by increased retail prices. Even if you decide to use cash, you are basically paying for someone's business class upgrades https://www.youtube.com/watch?v=ySH5SudRwak https://www.youtube.com/watch?v=ySH5SudRwak
- yborg 8y agoAnd the card holder pays with their privacy as well, that data stream is also monetized.
- KorematsuFred 8y agoThe Chinese store I buy from offers me discounts if I pay in cash. He offers me 5% discount on furniture and also gives me a proper invoice (so he is not really defrauding the tax authorities either).
- empath75 8y agoYeah but the people getting the points aren't the people paying those fees. It's mostly a wealth transfer from the poor to the well off. It's grotesque, and I think they should be banned.
- zanmat0 8y agoNo one is being forced to spend money they don't have.