Re:Why are credit card rates so high?
by toast0 on Tuesday April 01, 2025 @07:00PM
(#43552182)
I mean, I certainly don't need credit cards, but given the marketplace, they're often the least expensive and the most convenient way for me as a purchaser to pay for a lot of things.
They're certainly not the least expensive way for the merchant, but unless they pass the merchant "discount" as a line item, it doesn't make sense as a purchaser to use anything else. And even then, I think my current card involves the issuer paying me to use it, beyond the discount (4% cash back, but I think merchant fees top out closer to 3%). There's also the delay between time of charge and when the statement is due, although I think the merchant's receipts are also delayed.
Re:Why are credit card rates so high?
by toast0 on Tuesday April 01, 2025 @08:04PM
(#43552520)
US Bank Smartly. Gotta open a savings account, and hold $100,000 combined balances across savings/checking/investment for your household. And have to deal with US Bank.
They're certainly not the least expensive way for the merchant, but unless they pass the merchant "discount" as a line item, it doesn't make sense as a purchaser to use anything else. And even then, I think my current card involves the issuer paying me to use it, beyond the discount (4% cash back, but I think merchant fees top out closer to 3%). There's also the delay between time of charge and when the statement is due, although I think the merchant's receipts are also delayed.