Americans paid $130 billion in credit card interest and fees in 2022, according to a new report. Here are three strategies to help limit those charges.
I bet most of us aren’t actually making anything on cash back or rewards no matter what we do. %2 cash back isn’t free. Everything I’ve learned about the store side of things says the fees merchants pay is higher than the cash back + rewards. You think the store just eats the cost? Most of it is being passed to the consumers.
However, I don’t think removing the fees now would lower prices. Might prevent them from going up a bit longer though.
Often times the price is the same whether you’re using Credit Card or paying cash. That means the X% fees the business pays to credit card companies is built into the price of your purchase. I’d you’re not paying with a credit (and hence not getting cashback) you’re actually losing money / paying more.
Everybody is winning the Cash Back lotto until they lose their job or end up in the hospital.
Failure to adjust your spending after financial hardship would be incompetence or irresponsibility.
OK thanks for the tenth grade econ home ec lesson
No problem. My next protip is to pay your bills on time to avoid late fees.
I’ll just pay them with my credit card!
I bet most of us aren’t actually making anything on cash back or rewards no matter what we do. %2 cash back isn’t free. Everything I’ve learned about the store side of things says the fees merchants pay is higher than the cash back + rewards. You think the store just eats the cost? Most of it is being passed to the consumers.
However, I don’t think removing the fees now would lower prices. Might prevent them from going up a bit longer though.
Often times the price is the same whether you’re using Credit Card or paying cash. That means the X% fees the business pays to credit card companies is built into the price of your purchase. I’d you’re not paying with a credit (and hence not getting cashback) you’re actually losing money / paying more.