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> On the other hand cards are effectively free to me The average card merchant fee in the US is 1.5-3.5%. You're paying that much more for everything you're bu
by ramblenode 3y ago
> On the other hand cards are effectively free to me
The average card merchant fee in the US is 1.5-3.5%. You're paying that much more for everything you're buying. That applies even if you use cash. So it's effectively a private sales tax.
You absolutely pay for the convenience. It's just not on any receipt.
- danpalmer 3y agoIn the EU/UK it's capped at 0.4% for debit cards I believe, and not much more for credit cards. I agree it is a private sales tax, but cash handling isn't free so it's not a perfect comparison. In Australia it's actually very common for the card fee to be applied on top of the charge, especially in restaurants and small businesses. And I actually don't mind. It's about 1-1.5%, which on a $50 bill is small enough that I'd rather have the convenience, and the annoyance (or risk) of cash is enough to not bother.
- Daz1 3y agoHandling cash is a similarly expensive exercise for an organisation so either way you're paying a money handling fee.