Poll of the Day > Stealing raises prices? Sure, but lets talk about credit cards.

(+) Yeah! (+)

We're all aware we accept on average like one dollar per hundred cash back on purchases to make the prices slightly higher for everybody since the transaction fees mean other entities need their cut?

I mean, I do it. But that IS the reality of the situation, is it not?

Interest rates are their income, no?

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Purchasing Power Parity is typically higher in places with more credit cards... but I can't see that as anything more than coincidence.

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Rewards cards also typically charge vendors a higher cut, often 3-4% instead of 1%. This is why I try to use cash or debit instead of credit whenever I'm buying stuff from a small business, since those fees hurt their margins so much.

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It sucks, but I can't change it, so you bet your ass I use reward cards all the time. Except I use cash at small businesses, like adjl

Are you trying morally equivocate theft because businesses have to think about credit card fees? You're aware that companies can just choose to not accept credit cards, right? That also makes it easier for those companies to avoid another thing that raises costs to consumers -- taxes >_>

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Eh, not really morally but in terms of raising prices, both do.

and companies can choose to not take cards but they would lose out on a lot of business that doesnt carry cash.

What brought this up on my end was seeing a reddit post about how these fees work, and a reply from a restaurant owner saying he raised the prices on his menu a small % to cover these fees, and somebody replied acting like those costs weren't a problem for them because their Costco Visa card give them 3% cash back at restaurants. I have a similar card(without the monthly fee, though) and use it because I do save little bits of money in terms of cash back. However I do realize the reality of the situation. Cash people get screwed slightly because they pay full price and generally don't get cash back(unless the store had a cheaper cash price, which some do). I use my card because I save small bits of money but that is really a roundabout way of doing things, if the price was 1-3% cheaper from the start at businesses I'd save money and not have to wait or rely on a rewards program with limits and stipulations and whatever else.