How shoppers who pay in cash are subsidizing Americans’ credit card reward points

[1srelluc]

MSN

A long article but here's the meat of it.

One of the gun shops I deal with tells you up front that there will be a 4% extra charge for using a CC at the shop.

Cash is still king there but I can see how cash users get screwed paying higher prices anyplace else.

 

[Gabe Lackmann]

Credit card service fees.
Scam

 

[1srelluc]

Credit card service fees.
Scam

 

[citygator]

No one carries cash anymore. I only take out cash so my wife and kids can steal it from me.

 

[Care4all]

MSN

A long article but here's the meat of it.

One of the gun shops I deal with tells you up front that there will be a 4% extra charge for using a CC at the shop.

Cash is still king there but I can see how cash users get screwed paying higher prices anyplace else.

My dad, God rest his soul, used his Discover card every month for every thing he could, so that he could get the Discover points....Going thru his bank statements to review his estate and what he owed, he was putting about $2000 a month on Discover and paying it off with cash, every month, before the Discover interest charge!

So he definitely was a beneficiary and might I say, Player, in the credit card points, game!
And making us cash users pay more!!! Grrrrr!

 

[Oklahoma Journalist]

No one carries cash anymore.

tards and government bootlickers want to eliminate it.

 

[iamwhatiseem]

I began using credit cards for all online use and then added all autopay bill paying.
For online was the superior security over debit as well as if the card is ever hacked, it is their money on the line - not mine.
Now, I use a credit card for nearly all transactions. For the very reasons outlined in the OP.
I have a high credit exclusive card that has the best cash back % I have found. It is literally free money to me. Exactly as stated above, you will pay for credit card fees whether you use a credit card or not. Using a card will at least give it back to you.

 

[X.Onasis]

Card processors charge an average 2.5%. Some charge 1.7% plus 8 cents per transaction, so I suspect he won't accept your offer to pay in cash for a 4% discount.

Who's enjoying convenience here?

 

[1srelluc]

No one carries cash anymore. I only take out cash so my wife and kids can steal it from me.

I always have cash on hand....You just never know when someone in my circle will want to sell me a gun.

But yeah, I use a CC (Chase Rewards from Costco) more often these days in stores. Of course it's paid off every month.