Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

I don't pay any fee when I use a credit card.


It might appear that way, but that is only because the fee is hidden.

The credit card terminal agreements signed by retailers prevent the retailer from offering differential pricing when buying via credit card or cash. Essentially, the credit card fee is embedded into the price.

This might be "good" for people who have credit cards, but it is inflationary (by roughly 2%) to people whose credit is poor and only transact by cash.

But let's be honest -- who cares about the poor?


You pay a slightly elevated price to use your CC.

The CC network charge vendors a percentage of the transaction. So you aren't paying directly, but we're all paying.


You do, but it is hidden as the vendor is responsible for paying it. CC companies are basically a tax on transactions.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: