Used to see a lot of ‘DISCOUNT FOR CASH’ signs at checkouts.
They seem to have gone away...............
Because more and more places are passing those fees on as “convenience fees”
What I am seeing now are businesses charging a 3% fee on credit card transactions, and waiving the fee for cash or checks.
“Used to see a lot of ‘DISCOUNT FOR CASH’ signs at checkouts.”
The whole selling point for retailers behind credit cards was that they alleviated the problem of handling cash. They were a paid for service for conveinence the consumer was willing to cover so they didn’t carry that cumbersome paper. And they could pay for everything with one fell swoop at the end of the month.
But as the credit card companies got greedy and started charging the merchants for the machines and forms that had to be passed on to the buyers, it got more and more expensive. And as consumers got lazy and didn’t pay off the bills on time they started accumulating interest which was okay until some of the cards went to over 20% of the balance. Everyone lost and the credit card companies won. And the consumers were trapped to paying the minimum for 25 years with no new charges just to get out from under water due to their irresponsibility or ignorance of what they were doing. Great, and I guess legal, ponzi scheme.
wy69