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...which is a state of affairs the CC companies have arranged through anticompetitive terms in merchant contracts. Cash never had a chance to compete. The momen
by jjoonathan 6y ago
...which is a state of affairs the CC companies have arranged through anticompetitive terms in merchant contracts. Cash never had a chance to compete. The moment people realize they could get effectively twice the rewards points by squeezing out the fat cut taken by the CC companies, they absolutely will. CC companies will fight tooth and nail to make sure the fees stay invisible and unavoidable via cash.
- ImPostingOnHN 6y agoTotally -- if the government passes some law that says, for example, credit card companies can't give out 5% rewards, but only if the prices of goods drops 5%, I would be 100% in support of that. Until that happens, I'll take the 5% cash back, since it is preferable to 0% cash back while paying the same price.