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> Why do I borrow $100 to buy groceries every week? I have more than $100 in my bank account at any given moment. Having just disputed a merchant transaction l
by prostoalex 7y ago
> Why do I borrow $100 to buy groceries every week? I have more than $100 in my bank account at any given moment.
Having just disputed a merchant transaction last week, I have one reason - to introduce an additional layer of consumer protection at no additional cost to the consumer. If I had transacted in cash, I would've been screwed. And this was a major nationwide retail chain, not a dude in the alley peddling stuff that "fell off the truck".
- asdfaoeu 7y ago> no additional cost to the consumer Merchant fees are very high. > If I had transacted in cash The only difference with a debit card is a function of regulation and the network rather than actually being a credit or debit card.
- prostoalex 7y ago> Merchant fees are very high. But there were no discounts offered for paying cash.
- asdfaoeu 7y agoThe parent comments are discussing benefits the American credit system as a whole not the benefit of an individual using a credit card in America. Other countries have much lower merchant fees due to surcharges on credit transactions and/or regulation restricting merchant fees.