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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 4:08 pm to crimsonsaint
Posted on 6/3/26 at 4:08 pm to crimsonsaint
quote:
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?
Would depend on the business. My previous company I worked for was not one that typically had many credit card transactions prior to covid. A handful a year and rarely for large orders, so the fees were largely just eaten. However, as businesses started running all their purchasing through credit cards, to get points as well as a work around to extend their cash payment terms, credit card transactions skyrocketed. In turn, a need to start adding a charge specific to people paying with a card.
This post was edited on 6/3/26 at 4:12 pm
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Posted on 6/3/26 at 4:08 pm to TigerintheNO
Some places will give a cash discount that amounts to more than credit card rewards points
Posted on 6/3/26 at 4:16 pm to crimsonsaint
quote:
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?
Nope, good try though.
And like I said, the CC processing company started charging for CC information storage when they never had before. Kinda hard to include an unknown fee into your pricing.
This post was edited on 6/3/26 at 4:20 pm
Posted on 6/3/26 at 4:46 pm to CAD703X
quote:
having every single cup of coffee you purchase being analyzed by massive government AI algorithms.
When I worked for Equifax, I found out that (at that time) they had 180 different customer profiles they could fit almost everyone in the United States into. That's when the data harvesting clicked for me.
But almost everyone on this board is happy to sign up for Google accounts, etc.
Posted on 6/3/26 at 4:52 pm to auggie
quote:
Never use a card for duct tape, gloves, ski mask or chloroform. Just friendly advice.
Well of course I wouldn’t. Because of the implication…
Posted on 6/3/26 at 4:54 pm to TexasTiger6777
quote:I’ve seen places apply the 3% surcharge to debit cards as well.
Some places offer a discount if you pay with cash/debit card.
No lie. Yes, it makes no sense. Always have cash on you, I guess, if you don’t want to be overspending for no good reason at restaurants.
Posted on 6/3/26 at 4:56 pm to More beer please
quote:
Nope, good try though.
Uh huh. You run a business that you can keep cash sales off your books.
Posted on 6/3/26 at 5:12 pm to More beer please
quote:
And like I said, the CC processing company started charging for CC information storage when they never had before. Kinda hard to include an unknown fee into your pricing.
You know generically what percentage you're going to pay. Doesn't take much effort to tally up your processing volume on your statement and figure out what your average cost is over a few months or a year. It might fluctuate within a half a percentage month over month but now you're adjusting pricing within a half a percent rather than the full average cost.
The argument that the price setters (issuing banks largely) will make is that a customer are likely to spend more money in your store if they are paying with a card than if they are paying cash. That's the benefit to the merchant. It's supposition, but it's also not entirely incorrect. It doesn't make logical sense to me that the card issuers specifically charge the customer a 30% APR to spend their money and then turn around and charge the merchant 3% of their profit for the hassle of taking the payment.
Chargeback rules are definitely rigged against the merchants though.
Lastly, if a merchant is charging you 3% to use a card, you're not receiving that 3% back in benefits. You're better off to use a different form of payment if you're being charged to use a card.
Posted on 6/3/26 at 5:19 pm to SludgeFactory
quote:
#4 is why I got a CC with high rewards, use it daily, then pay it in full every month.
If you are not using a separate Capital One Shopping account (no other Cap One account needed and you can use any card for the purchases) you are not maximizing your leverage of online purchases.
Posted on 6/3/26 at 5:20 pm to crimsonsaint
quote:
You run a business that you can keep cash sales off your books.
Nope. I dont pass along the CC surcharge either.
Posted on 6/3/26 at 5:43 pm to TigerintheNO
quote:Us credit card churners would like to thank you for your service.
Shoppers that use cash/debt are are subsidizing Americans’ cc reward points by $30billion
Posted on 6/3/26 at 7:12 pm to Shaun176
what card are you using to average 5% back?
Posted on 6/3/26 at 7:14 pm to TigerintheNO
Love all of my credit card rewards.
Posted on 6/3/26 at 7:45 pm to Breauxsif
quote:
Lots of minorities/poor folks do.
I’ve had a few exes that made good money and just can’t handle credit cards. They’ve had to cancel them and only use debit or they start stacking debt.
Rewards are only rewards if u pay yiur bill every month. Lots of women can’t handle that concept.
This post was edited on 6/3/26 at 7:47 pm
Posted on 6/3/26 at 10:22 pm to Ponchy Tiger
quote:
Dude quit being a twat. If you want to handcuff yourself to a piece of plastic go right ahead. But just know you are doing nothing but hurting yourself. Good luck when you get hacked and they still your information plus drain your account. You are the motherfrickers I laughed during hurricanes who couldn’t buy shite because their card wouldn’t work. Oh and if you think we are headed for a cashless society good luck with that one also. No way the cartels allow that to happen.
I know five people have already replied to this drivel, but I had to chime in also. This is one of worst takes I have ever read on this site.
Posted on 6/4/26 at 12:39 am to DownSouthTiger
quote:
With my side lawn care business that I do not pay any taxes on I use the cash for eating out and groceries. What is there to laugh about on that?
Well, a better method would be to deposit that money, use a credit card, take advantage of the points, while still falsifying your tax returns on your income amount. I mean, you are technically fraudulently reporting income already, so just do it while still getting the benefit of credit card rewards.
Posted on 6/4/26 at 3:17 am to TigerintheNO
There’s a significant expense not covered in the nifty little graphic. All deposits are instantaneous. Thus, no one is balancing the cash drawers of the registers. No one is making nightly deposits at the bank. No one is working with Brinks who installs and charges for cash security. There are no bounced checks nor overdraft fees.
Retailers charging customers a “card usage fee” are small business operators or high risk retailers who are subject to high card fraud. The vast majority of merchants in this cohort are not financially sophisticated in pro forma modeling to account for all these aforementioned variables. That’s not a dig, just a perspective.
Merchants are charged a “discount fee” to process the transaction at the terminal. More importantly they are charged “interchange” which goes to the cardholder’s issuing bank. This fee covers the bank’s fraud exposure and varies by merchant type. The interchange fee is what most merchants have an issue with.
Retailers charging customers a “card usage fee” are small business operators or high risk retailers who are subject to high card fraud. The vast majority of merchants in this cohort are not financially sophisticated in pro forma modeling to account for all these aforementioned variables. That’s not a dig, just a perspective.
Merchants are charged a “discount fee” to process the transaction at the terminal. More importantly they are charged “interchange” which goes to the cardholder’s issuing bank. This fee covers the bank’s fraud exposure and varies by merchant type. The interchange fee is what most merchants have an issue with.
Posted on 6/4/26 at 11:08 am to Jon A thon
Depositing cash may be looked at by the IRS if you ever get audited. My brother is a CPA and told me to never deposit the cash just use it like I am doing.
Posted on 6/4/26 at 11:43 am to Topwater Trout
quote:
i try to use cash as much as possible...imagine people having unpaid cc balances every month
You do understand that it's possible/legal to pay off your credit card in full each month, yes? So at the end of the day you net out the same from a cost perspective except the person who put all their purchases on the card gets the rewards/miles/cash back?
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