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Money and Finances
Reply to "Credit Card Fees Now Everywhere!"
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[quote=Anonymous][quote=Anonymous][quote] Anonymous wrote: Because you are ultimately paying for those points. They are not "free". I am paying for your points in higher prices (to cover the points). I'd rather just have lower prices and pay for my airline tickets from my savings. If you can't save money on your own, that's your problem. [b]Merchant service fees vary by card so if you’re not using a higher fee card you’re not paying extra. [/b]The merchant and the bank are subsidizing them. Amusing to see someone sk arrogant be so wrong.[/quote] So you pay 4% extra and I pay 3% extra on the purchase? I have not experienced that. What store does that?[/quote] This hasn't actually happened yet, but it may. Last week or so, Visa/MC settled a lawsuit with the merchant's association. Merchants will no be able to charge different fees for different cards. No just netwroks. So you Chase Sapphire Reserve may have a 4% fee while your barebones Truist visa card may not have a fee at all. Will merchnats do this? Who knows? Consumer groups will inevitably sue to force merchants to put up signs stating what cards bear what fees. So they will have a sign with 30 different fees? So every consumer will be able to look through their wallet to get the lowest fee? That'll certainly gum up the works.[/quote]
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