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In addition to privacy, another argument against credit cards are fees like interchange fees and assessments https://en.wikipedia.org/wiki/Interchange_fee https
by a3_nm 7y ago
In addition to privacy, another argument against credit cards are fees like interchange fees and assessments https://en.wikipedia.org/wiki/Interchange_fee https://en.wikipedia.org/wiki/Interchange_fee.
When I pay by card, banks and Visa/Mastercard get a cut of my purchase, which the merchant doesn't get (and I don't think they are allowed to pass on these fees to the consumer). When I pay by cash, the merchant gets 100%. I usually prefer to give my money to a local shop rather than to financial middlemen.
- tatami 7y agoIt's not quite 100%, the merchant has costs associated with using cash: The time a cashier has to spend counting the cash register's content, time spent on bank runs to put away earnings/get extra coins for change, some fees associated with it, some amount that gets "lost"... I remember the cost was less than credit cards take, but not much lower than Girocard payments.