Physical cash is dying–and you don't need to be a conspiracist to worry

Re:Physical cash is dying–and you don't need to be a conspir... by hackstack on Saturday February 03, 2024 @02:12PM (#39243675)

Let’s just take 95% as a true figure … first of all the 5% you don’t get back is a straight up loss. The rewards you get at the end of the month are fine (eg cash back) but you’ve missed out on earning interest on the money you “get back”

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Re:Physical cash is dying–and you don't need to be a conspir... by xadhominemx on Saturday February 03, 2024 @02:23PM (#39243812)

Card network fees (the part credit card users don't get back) are about the same for the European payment systems. For card users on net there is essentially no difference.

The interest argument of course is nonsense because the opportunity cost ia outweighed ~50x by the interest benefit you receive from the entire purchase going on credit vs just the 2% interchange.

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Re:Physical cash is dying–and you don't need to be a conspir... by hackstack on Saturday February 03, 2024 @11:05PM (#39247467)

“Of course”.

Thanks for responding — can you clarify this interest benefit you are talking about?

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Re:Physical cash is dying–and you don't need to be a conspir... by Remnant44 on Sunday February 04, 2024 @02:36AM (#39248387)

You are able to buy now, but not pay until 30 days later, paying no interest unless paid in full. Which means YOU earn interest on your money during that period...

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Re:Physical cash is dying–and you don't need to be a conspir... by hackstack on Sunday February 04, 2024 @12:28PM (#39252284)

Oh duh! Pardon my ignorance; that makes perfect sense, I guess my mind was elsewhere

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