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Not really, the largest single transaction I've ever made on a credit card is maybe $2000 in flight tickets. At ~$30,000 a year in credit card spending I'm thr
by aianus 12y ago
Not really, the largest single transaction I've ever made on a credit card is maybe $2000 in flight tickets.
At ~$30,000 a year in credit card spending I'm throwing that amount away in credit card fees every two and a half years. I'm perfectly capable of and would prefer the option to self-insure, thank you very much.
- TylerE 12y agoAre you really naive enough to think that retailers won't just pocket whatever savings they have?
- aianus 12y agoRetail is not a very high-margin industry, I imagine Walmart, Amazon, Airlines et al would pass on the savings.
- myhf 12y agoFees? Shouldn't you be getting that amount back in loyalty points?
- aianus 12y agoLoyalty points change the numbers somewhat but the merchant is still paying two or three times more in fees than I'm getting back in points. Ultimately insurance always has a negative expected value for the average consumer. It makes sense to pay the vig to insure against catastrophic events like a car crash or a house fire, but insuring my daily credit card purchases like takeout meals, groceries, and gas is stupid.