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Right, and then they in turn need to charge higher prices to make up this loss. Cashback is a scam.
by david422 4y ago
Right, and then they in turn need to charge higher prices to make up this loss. Cashback is a scam.
- Anderkent 4y agobut since they charge the same prices to holders of credit (2% fee) and debit (0.05% fee), users of credit cards are de facto subsidized by cash/debit payers in the US so as an individual it still may pay you to have one
- david422 4y ago> users of credit cards are de facto subsidized by cash/debit payers in the US Yes, sadly. So you have to play the game in order not to lose, and playing the game means that the credit cards take their cut, which means everyone loses except the credit cards.