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Do you use credit cards? If not, just know you are leaving cash on the table. Stores have to pay high transaction fees on “premium” cards, which leads them to r
by janalsncm 3y ago
Do you use credit cards? If not, just know you are leaving cash on the table. Stores have to pay high transaction fees on “premium” cards, which leads them to raise their sticker price. So if you pay cash, you’re basically subsidizing cash-back cards.
If I spend $2k a month on my card and get 1.5% back, that’s $30 a month. It adds up.
- deleted 3y ago[deleted]
- hypothesis 3y agoJust you wait until lots of places wise up to whole thing and start ambushing you with “btw, we have a 2.xx+% surcharge for credit card tx” at the register. Happens quite a lot lately…
- toomuchtodo 3y agoThis is good. It pushes people to use cash, debit, or soon, FedNow instant payments.
- janalsncm 3y agoIt happens, but mainly in places like gas stations. And payment processors (Visa, MasterCard) don’t allow businesses to charge different prices to different cards.
- ffpip 3y ago> don’t allow businesses to charge different prices to different cards. That changed a few weeks ago "Both card networks also agreed to cap rates for five years and remove anti-steering provisions. Merchants will have more discretion to offer discounts, or impose surcharges on cards with higher interchange fees." https://www.reuters.com/business/finance/mastercard-visa-reach-30-bln-settlement-over-credit-card-fees-2024-03-26/ https://www.reuters.com/business/finance/mastercard-visa-rea...