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It's not optional, though. I still have to pay the higher transaction costs even without a credit card, because the credit card companies require that vendors
by sdenton4 6y ago
It's not optional, though.
I still have to pay the higher transaction costs even without a credit card, because the credit card companies require that vendors have the same prices for card or cash, resulting in higher prices for everyone.
- apta 6y agoI've seen stores (e.g. electronic stores) offer reduced prices when paying in cash vs. credit card. Is this law only in the US?
- ceejayoz 6y agoReduced prices for cash used to be against the Visa/MC merchant terms. They lost a lawsuit over it, but it's fairly ingrained by now. You'll see cash discounts at some gas stations, and the occasional small coffee shop or takeout place will have a $10 minimum, but otherwise it's gonna be the same price most places.
- apta 6y agoSeems like an opportunity to raise awareness for this information then.
- alt_f4 6y agoWill you go to jail or pay a fine if you don't use a credit card? No? Then it's nothing like taxation and it is optional.
- sdenton4 6y agoThink of sales tax. You have the option of paying it or not buying things; it's not optional.
- alt_f4 6y agoare you retarded? you can literally can pay with cash, or you know, a DEBIT card.
- sdenton4 6y agoWork on your reading comprehension... The card companies charge merchants for transactions. The merchants raise their prices to cover those transaction costs: For a very long time (and still, in a few places) it was against the card company's terms of service to have a card usage surcharge. A very few places now have 'cash discounts' or don't accept cards at all, but these are by far the exception. As a result, /everyone/ ends up paying for credit card rewards, even those who don't use credit cards.
- dang 6y agoWe've warned you before about personal attacks, so I've banned this account. If you don't want to be banned, you're welcome to email hn@ycombinator.com and give us reason to believe that you'll follow the rules in the future. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html