Last Topic: 1:51:25pm, 05/20/2023
Last Post: 5:00:38pm, 04/14/2023
In recent months, there's been a huge flare-up of "a 3% transaction fee will be added to all credit card charges"
Well when your card only gets 1.5-2% back in points... you're operating at a loss. For something that's supposed to reward your usage (or at LEAST have no annual fee).
What's the solution at this point? Go back to cash? I'm getting really annoyed at the straight up devaluation of my credit card. What's the point of using it anymore? An extra annoyance is, there used to be a small cash discount incentive. But places quickly realized it wasn't enough of a carrot, so they quickly pivoted to stick. And in full honesty, I can't exactly argue with them. The CC companies have been charging merchants per transaction for years. Coffee shops would have a $5 minimum or whatever. That all made sense. But the recent months make it seem like the dynamic has shifted fully back to the patron (like with tipping - restaurants said they can get their patrons to pay our waiters' living wages, why not have them cover our transaction fees too?)
Flipside is, what's the alternative? Going back to straight cash? Stopping at the ATM all the time? Having a fat wallet that you can't just cancel all the available money with the click of a button? If you lose that cash, it's gone. If you lose your CC or it gets stolen, you can cancel it and dispute any charges with ease.
I dunno. I'm kinda stuck with it. It's small amounts on a per transaction basis (e.g. $1.50 for a $50 dinner), but that shit adds up quickly.
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