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I think this should be the main response. If the fees were charged to the customer they would be able to make an informed choice. But as it is the fees are alre
by kevincox 2y ago
I think this should be the main response. If the fees were charged to the customer they would be able to make an informed choice. But as it is the fees are already included in the price, so you are just losing if you don't use the credit card and get rewards.
But it also isn't easy to charge the customer for the fee because it is different for different cards. I don't even know if there is a reliable way for the average business to know the fee, the card company just tells them at the end of the month.
- lotsofpulp 2y agoBusinesses don’t need to know they exact percentage to the thousandths decimal. They could easily charge all credit card users x%. If they do not, it is because they benefit by people using credit cards because the business is betting they will be able to collect more than x% via people being willing to spend more if they use a credit card rather than other methods of payment. Note that some businesses do not want to place this bet, and have long had lower debit card prices (such as US gas stations). https://link.springer.com/article/10.1023/A:1008196717017 https://link.springer.com/article/10.1023/A:1008196717017