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The fact of the matter is that retail goods and services cost the same whether I pay cash or use a credit card. So might as well take the benefits the card offe
by throwawayboise 6y ago
The fact of the matter is that retail goods and services cost the same whether I pay cash or use a credit card. So might as well take the benefits the card offers.
Every great once in a while I will run into a small business that doesn't take credit cards, or offers a discount for cash. But it's quite rare.
- jjoonathan 6y agoYeah, which the CC oligopoly has conveniently arranged through merchant contracts. The Europeans negotiated around this with legislation and won a better deal. In the US, I'm sure people would scream and cry if the evil government tried to take their 2% rewards, even if it meant 3.5% lower prices. We don't like math very much over here -- as this thread is proving.
- Tempest1981 6y agoOr resigned to the massive power of lobbyists.
- fredophile 6y agoI doubt prices on most common purchases would change at all. That extra money would just go to the retailers instead.
- xeromal 6y agoThis was exactly my point. The amount of cash discount places are dwindling so you're actively losing money if you pay cash.
- bogomipz 6y ago>"The fact of the matter is that retail goods and services cost the same whether I pay cash or use a credit card. So might as well take the benefits the card offers" The merchant costs for processing the purchase of those products is baked into price though. The net effect is that the fees the merchant pays push your retail price up. You're not really getting a benefit if you get 2% back and the retail price is 2% higher to account for the merchants processing fees.