this post was submitted on 24 Jul 2025
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We have one. We don't use it for credit cards but we could if we wanted to. We use it for debit transactions.
And it is orders of magnitude cheaper for retailers than credit cards.
The problem is there's no incentive to use it, as you don't get the kickback your credit card provides. I'm not sure how the CC duopoly tricked us into disallowing retailer cash/debit discounting.
Your credit card kick back has a yearly fee, and possible interest. They hope you over spend
Not all CCs have annual fees. I've got one with no fees and I still get 1% back.
Yeah, it just sucks that we are all paying about an extra 3% more on everything we buy to cover the interchange fees charged on credit transactions, even if we pay cash. It's built into all the pricing. Years back, there were places that would discount a price by 3% if you paid cash, but I haven't seen that in years. Best we can do now is get a cash back card to recover some of the loss. The annual fee cards usually get you more back, so if you use a credit card for everything you can, you might be further ahead.
No fee is goos. With my spending that 1% would get me $200 back at end of year LOL.
That's the thing. I don't. I make a shit ton of extra cash with bonus points to a point where I can pay off a plane ticket when I go on vacation. That's a pretty big incentive.
Westjet had a good system before with RBC and you would get flight cash, its be nerfed since they were bought though. And now the Dollars have become Points, which means they can play with point value to adjust pricing
Oh that sucks.
Mine has no fee and I pay it completely every month so no interest. It’s a good place to be. Just perks for purchasing.
Still paying more for goods then we should be.
Yep, it’s a shitty system, but most people’s finances are tight enough that they don’t want to give up that 1-3%(plus other perks) just on principle. Good example though of how those with the lowest income won’t qualify for a credit card but still pay the fees baked into store prices while those with the highest incomes qualify for the cards with the best befits.