Quote:
Originally Posted by Acrossamerica
I wonder if you have any idea where that money "you make" comes from? Contrary to what a lot of young people think, it does not just happen. That 1-5% pay back is taken out of the merchants pocket in the form of CC fees.
Use a Debit card and they are charged one fee, use a straight CC card and it is a different amount, use the pay back cards and the fees jump up to cover the cost of the paybacks. And in addition to the fees there is a processing machine that must be bought and updated every few years and any merchant that has not invested in the new "Dip" card machines is now liable for any fraud on that card not the CC company or the bank.
So as you pat your self on the back for "earning" 1-5% on your purchases you are really paying for that and possibly a bit more to cover the aggravation factor of being in business and dealing with thousands of customers who "know" so much better how to run everyone else's business.
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Using a debit card in today's world isn't very smart, or safe. Why would you use something directly linked to your account where cash is immediately gone. If that's stolen now you have the hassle of making sure it is returned...with a credit card you have a lot more protection.
I understand the concept that each method has different fees, it's up to the business to accept that as part of doing business. Not me, not you, the business. If I use my card and get the incentives then perhaps the cost of goods will reflect that. But that's life, and what you chose to do is up to you.