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Don't forget that there is no such thing as a free lunch, though. Credit card companies aren't charities! In general all those perks are paid for by rather sig
by crote 4y ago
Don't forget that there is no such thing as a free lunch, though. Credit card companies aren't charities!
In general all those perks are paid for by rather significant credit card processing fees, which you pay for yourself via increased product prices. Furthermore, their goal is to normalize the use of credit cards, in the hope that you'll eventually stumble and get screwed over by the interest fees.
Also, I think you are forgetting that Gen Z are literally kids. If they have a job at all, it'll be a parttime one with a very flexible contract. Without stable income, a credit card can easily become an unacceptable risk.
- senttoschool 4y agoIn general all those perks are paid for by rather significant credit card processing fees, which you pay for yourself via increased product prices. The price is the same whether you pay via BNPL or credit card. I get that merchants get charged by credit card companies. I also know that I'm not going to make a difference by boycotting credit card companies. I'd just lose out. Also, BNPL companies charge merchants the same way credit card companies do.
- goosedragons 4y agoYeah. Stores increase prices to account for the higher transaction fees required to support giving CC users 2-4% cashback. Frankly CC reward schemes should be banned. It's just another shitty way for the poor to subsidize the middle class.
- Existenceblinks 4y agoAnd punish normie who don't over spend because they have the same discipline without in-system credit.
- kortilla 4y ago> Also, I think you are forgetting that Gen Z are literally kids. You might want to check out your math on that one.
- deleted 4y ago[deleted]
- birracerveza 4y agoI think you are forgetting that Gen Z are not literally kids, they are just forced to live as such by the fact that being an adult with its own house and family has become prohibitively expensive.
- cfel 4y agoGen Z starts in 1997.
- danaris 4y agoAh, so now we've finally moved on from "Millennials are children" to "Gen Z are children". While it may still be true of some of them (I'm not sure exactly what the accepted bounds of "Gen Z" are these days), many are full-grown adults in their 20s with full-time jobs. And many of those full-grown adults in their 20s with full-time jobs still can't afford to even rent a place without multiple roommates to share the cost with.