In America, I would prefer to use a debit card or cash, but many credit card issuers offer 1%-3% cash back, meaning, they give back 1%-3% of the purchases you make.
That amount adds up over time.
That amount adds up over time.
I'm alright with 1% in direct cash without any fees. That's not a lot but hey, it's beer money!
As far as I know there are no transaction fees on credit cards. That's one of the reasons to stop using debit and use credit. The only fees are on the merchant (1.5%).
Example : https://www.desjardins.com/ca/personal/loans-credit/credit-c... with no transaction fees (or monthly fees) along with 1% cashback.
I try to use cards when I can because I earn Frequent Flyer points, something I wouldn't get using cash. I've already used those points once to fund a Round The World trip (strangely enough, including a trip to Germany).
That being said, yes, they might mark up their products for it. That being said, I doubt it. The retailers I've worked with while developing e-commerce solutions already made enough profits on their products to absorb that fee.
Yet another example of wealth transfer in the US from the poor (who often don't have credit cards, or don't have the high rewards ones because they cost $150+ dollars a year) to the upper middle class.
Yes, in nine states and DC. It was also part of the contract, but the courts struck that down after a big lawsuit.
not really "laws", more like merchant agreements. also, there's nothing preventing shops from offering a cash discount, which is effectively the same thing.
Not sure why people down vote it? then again who cares.
Some cards (e.g. Amazon Store Card) get you relatively high rewards at a specific vendor (Amazon). I predict there are special deals in place with the banks/transaction processors involved that make these rewards more possible.
At the end of the day, the benefits far outweigh the meta-data that is shared. Ok, sure you can see what I ordered at costco and how much I spend on gas.
Yes, it's a data grab by companies, but what are you gonna do... not take 4% back on gas and 3% on restaurants?