4 ms·

I get 1.5% cash back on purchases with my credit card. I'm essentially recouping the interchange fees.

• clairity 8y ago
  yes, almost. the middlemen are still taking ~1%, which everyone pays for through higher prices. wouldn't you rather have lower prices on everything and not have to worry about which card to use to get which points to claw back some of that cash? to be fair, one needs to experience the current credit card rigamarole to realize that straight lower prices are less complicated and preferable. i get tired of having to remember to cash in my points in a convoluted system involving yet another third party (the rewards provider).
  • mehrdadn 8y ago
    > i get tired of having to remember to cash in my points in a convoluted system involving yet another third party (the rewards provider). Get Citi Double Cash and you'll get 2% on everything without point conversion hassles.
  • brianpgordon 8y ago
    This is a nice thought, but come on. If you want to be a good samaritan, donate to a charity. Giving up 2-3% cash back by using cash while plaintively reminding everyone that interchange fees are harmful to society isn't making any difference to anything other than your own wallet. Also, some cards automatically apply rewards points. My Schwab Amex card deposits my 2% cash back each month directly into my brokerage account. My Amazon Prime card just gives you a checkbox when buying on Amazon where you can apply cash back to your purchase during checkout.