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re: Shoppers that use cash/debt are are subsidizing Americans’ cc reward points by $30billion
Posted on 6/3/26 at 2:54 pm to SoDakHawk
Posted on 6/3/26 at 2:54 pm to SoDakHawk
quote:
I'd use my debit card just as easily as CC, no issue there. Problem is, I'm pretty sure you get hit for processing fees using a debit card too as debit cards are Visa or MC anyway. So what incentive do I have to use a debit card and get charged the surcharge?
Each state has different regulations but Im almost positive most if not all have debit cards exempt from CC surcharges by the business. Meaning I cant legally add a CC surcharge to your purchase if you use a Debit card. I still get hit with a charge but its a smaller % than a CC fee.
quote:
Maybe I should just go back to writing checks. Oh that's right, lot of places don't accept those anymore either. Don't want to get hit with a bad one.
Im still fighting 2 bad checks that were written to me. Theres no recourse for it either. JP even has a whole division whose job it is to handle and prosecute these as criminal and they still havent. I have one going on 2 years.
Oh and people just as easily dispute CC charges and even with substantial evidence backing up the business, we rarely ever win.
This post was edited on 6/3/26 at 2:58 pm
1
Posted on 6/3/26 at 3:09 pm to Ponchy Tiger
quote:
But just know you are doing nothing but hurting yourself.
By getting thousands of dollars of benefits at low to no costs?
quote:
Good luck when you get hacked and they still your information plus drain your account.
Are you sure you know how credit cards work?
Posted on 6/3/26 at 3:09 pm to redstick13
quote:
Come to Germany and you will find most prefer paying with bar. There's an ice cream shop in our mall that doesn't accept cards. Still many taxis that don't accept cards.
Still see a lot of Nur Bargeld places, but more and more I've seen Keine Bargeld / Nur Kartenzahlung. Crazy.
Posted on 6/3/26 at 3:19 pm to TigerintheNO
That's great and all so if you think people stop using rewards they will stall or lower prices.
Posted on 6/3/26 at 3:20 pm to Ponchy Tiger
quote:
But just know you are doing nothing but hurting yourself.
Explain this.
Posted on 6/3/26 at 3:23 pm to TigerintheNO
quote:
This amounts to a wealth transfer of about $30 billion
That isn't what a wealth transfer is...
Posted on 6/3/26 at 3:24 pm to Ponchy Tiger
quote:
But just know you are doing nothing but hurting yourself.
Well this is just ignorant.
Posted on 6/3/26 at 3:25 pm to TigerintheNO
If you don’t work the trades and pay cash for everything you’re not a real man
Posted on 6/3/26 at 3:29 pm to TigerintheNO
Many places now add the fee onto purchases
Posted on 6/3/26 at 3:29 pm to kywildcatfanone
Yep, it is very common these days for somewhere to only charge a fee if using a card. Cash doesn't incur the fee.
Posted on 6/3/26 at 3:31 pm to CAD703X
quote:
imagine having every single cup of coffee you purchase being analyzed by massive government AI algorithms.
You carry a cellphone? The government already knows which titty bars you frequent.
Posted on 6/3/26 at 3:31 pm to SludgeFactory
h
and we know how many American consumers are doing that.
quote:
y I got a CC with high rewards, use it daily, then pay it in full every month.
and we know how many American consumers are doing that.
Posted on 6/3/26 at 3:32 pm to SoDakHawk
quote:
Visa/MC make ONLY $198 billion per year on fees? Wow. Thought the number would be in the trillions. Imagine getting a 2-3% cut of almost every transaction in the country every single day. That's mafia level stuff, wetting their beak on every transaction everywhere.
It generally gets split between multiple places.
The bank that issued the card (Chase, BOA), the brand (Visa/MC) and the merchant (worldpay/Vantiv).
Suppose a customer spends $100 and your total processing fee is 2.7% ($2.70):
About $1.80–$2.20 might go to the issuing bank.
About $0.10–$0.20 might go to Visa or Mastercard.
About $0.30–$0.60 might go to Worldpay/Fiserv/your processor.
This post was edited on 6/3/26 at 3:34 pm
Posted on 6/3/26 at 3:33 pm to Pelican fan99
quote:
Imagine still using cash in 2026
Imagine still using a debit card too
Posted on 6/3/26 at 3:35 pm to GoCrazyAuburn
quote:
Yep, it is very common these days for somewhere to only charge a fee if using a card. Cash doesn't incur the fee.
I still see gas stations that offer cheaper gas if you pay in cash.
Posted on 6/3/26 at 3:36 pm to Ponchy Tiger
quote:
But just know you are doing nothing but hurting yourself.
Exactly how, when using a CC where there are points and cash back incentives involved?
quote:
Good luck when you get hacked and they still your information plus drain your account.
Not even going to touch this Boomer level shite right here
Posted on 6/3/26 at 3:42 pm to More beer please
quote:
Oh and people just as easily dispute CC charges and even with substantial evidence backing up the business, we rarely ever win.
Big in delivery and started with the pizza chains. No proof you were ever in the store to purchase anything; just claim you card was stolen. A lot of folks have now found out your issuer will side with you and not the business.
People do this with uber eats and doordash now like its no one's business.
Posted on 6/3/26 at 3:44 pm to Breauxsif
quote:
Exactly how, when using a CC where there are points and cash back incentives involved?
As long as I spend at least 75k per year, I average 5% back even after the annual fee.
Posted on 6/3/26 at 3:52 pm to TigerintheNO
Growth economy 
I get about $100 per month in rewards. I use those for my internet service and other subscriptions I have. I enjoy it
I get about $100 per month in rewards. I use those for my internet service and other subscriptions I have. I enjoy it
Posted on 6/3/26 at 4:04 pm to More beer please
quote:
I guess most people dont know how it works with CC processing companies work when you own a business.
quote:
So its easy to see why business make the decision to pass along the CC charge to the client or offer a debit/cash/check discount. As time goes on the business are losing more profit on CC purchases just so the client can get rewards points.
As a business owner I assume you already have CC fees included in the price of your goods and or services. And when bs Covid hit, you like many businesses decided to add an additional fee for CC users to make more profit. Am I right?
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