5 ms·

> one of which is points Citation needed. I hate points.

the_jeremy 8y ago
Rewards would have been a more general term that still captures the meaning. I get a flat 2% back on literal everything. I agree that points would be a pain, but extra cash is nice. (I know this functionally means everything is x% more expensive, something something tragedy of the commons externalities blah blah blah.)
- philipov 8y ago
  > I know this functionally means everything is x% more expensive Exactly! I hate all rewards systems because they wouldn't be offering it if it weren't a scam. If you don't know who the fish is, it's you.
  - mkozlows 8y ago
    The "scam" is on everyone who doesn't have a rewards card. The increased interchange fees are shared by everyone, with reward card users reaping the benefit.
- mjevans 8y ago
  Yeah, I use Costco's "Citi Visa" card for exactly that reason. I'd still be charged the %, and at least this way I get the most useful thing /for me/ back as a reward. That's the why I want a system that completely bypasses the insanity that are current credit/debit cards and goes directly to a modern approach (but isn't some blockchain, kill the planet with mining power, fad).
- victor106 8y ago
  I wonder which card gives you this benefit?
  - the_jeremy 7y ago
    citi double cash back or something like that
icedchai 8y ago
You hate free money? Points are exactly that, as long as you pay off your credit card every month.
- jeromegv 8y ago
  The point is at that all merchant end up adding the 3% in their margin so what you buy is more expensive. You just lose if you don’t use points but, you aren’t actually gaining anything.
  - icedchai 8y ago
    You're contradicting yourself. Since everyone is paying that extra 3%, by not getting the rewards / points you're at a disadvantage.
    - philipov 8y ago
      No, it's you who, by supporting their toxic industry, are making things worse for everyone. c.f. Tragedy of the Commons. What you're advocating is a slave mentality.
      - icedchai 8y ago
        The people paying ~20% interest are slaves. For some, they have no choice and I sympathize with those. I pay off my bill every month. I pay no interest, no fees, and get free stuff for it. You should do the same.
- orthecreedence 8y ago
  It's not free. They take the enormous margin they get off the sellers and kick you back a few peanuts. Essentially, the sellers pay a tax, and you get a small distribution of the tax, and as a result all products are more expensive. Points are useless.
  - icedchai 8y ago

Rewards would have been a more general term that still captures the meaning. I get a flat 2% back on literal everything. I agree that points would be a pain, but extra cash is nice. (I know this functionally means everything is x% more expensive, something something tragedy of the commons externalities blah blah blah.)

philipov 8y ago
> I know this functionally means everything is x% more expensive Exactly! I hate all rewards systems because they wouldn't be offering it if it weren't a scam. If you don't know who the fish is, it's you.
- mkozlows 8y ago
  The "scam" is on everyone who doesn't have a rewards card. The increased interchange fees are shared by everyone, with reward card users reaping the benefit.
mjevans 8y ago
Yeah, I use Costco's "Citi Visa" card for exactly that reason. I'd still be charged the %, and at least this way I get the most useful thing /for me/ back as a reward. That's the why I want a system that completely bypasses the insanity that are current credit/debit cards and goes directly to a modern approach (but isn't some blockchain, kill the planet with mining power, fad).
victor106 8y ago
I wonder which card gives you this benefit?
- the_jeremy 7y ago
  citi double cash back or something like that

icedchai 8y ago

You hate free money? Points are exactly that, as long as you pay off your credit card every month.

jeromegv 8y ago
The point is at that all merchant end up adding the 3% in their margin so what you buy is more expensive. You just lose if you don’t use points but, you aren’t actually gaining anything.
- icedchai 8y ago
  You're contradicting yourself. Since everyone is paying that extra 3%, by not getting the rewards / points you're at a disadvantage.
  - philipov 8y ago
    No, it's you who, by supporting their toxic industry, are making things worse for everyone. c.f. Tragedy of the Commons. What you're advocating is a slave mentality.
    - icedchai 8y ago
      The people paying ~20% interest are slaves. For some, they have no choice and I sympathize with those. I pay off my bill every month. I pay no interest, no fees, and get free stuff for it. You should do the same.
orthecreedence 8y ago
It's not free. They take the enormous margin they get off the sellers and kick you back a few peanuts. Essentially, the sellers pay a tax, and you get a small distribution of the tax, and as a result all products are more expensive. Points are useless.
- icedchai 8y ago