A reminder that “cashback” credit cards are paid for by big fees on transactions which the store pays, forcing them to raise prices. It’s literally anticompetitive
This does not apply so much in the Whole Foods/Prime example; the store, the membership, and the credit card are all Amazon products. The consumer is paying Amazon for the privilege of paying Amazon to pay Amazon.
It’s actually a Chase credit card, and you can convert the cash back to Chase’s system IIRC. But you’d be better off using the Sapphire or whatever their metal card is called if you want the Chase rewards. Amazon rewards just give you cash to spend on Amazon by default.
I’m not feeding them, the store is. My local worker owned grocery store doesn’t accept credit cards. Not my favorite, but I don’t pay cash back prices when I shop there.
A reminder that “cashback” credit cards are paid for by big fees on transactions which the store pays, forcing them to raise prices. It’s literally anticompetitive
This does not apply so much in the Whole Foods/Prime example; the store, the membership, and the credit card are all Amazon products. The consumer is paying Amazon for the privilege of paying Amazon to pay Amazon.
It’s actually a Chase credit card, and you can convert the cash back to Chase’s system IIRC. But you’d be better off using the Sapphire or whatever their metal card is called if you want the Chase rewards. Amazon rewards just give you cash to spend on Amazon by default.
That’s why you should never use cash. You’re paying cash back prices and getting none of the cash back.
… And feed the credit card issuers?
I’m not feeding them, the store is. My local worker owned grocery store doesn’t accept credit cards. Not my favorite, but I don’t pay cash back prices when I shop there.
And if the credit card issuers have already won this battle?
I mean, I agree, I don’t like it either. I don’t even have a credit card. But I don’t see anything changing without a movement.
[edit] I might have missed you were also the top-level comment. I’ll remind people if you will, haha.