Comment by idiotsecant
2 months ago
When the 'merchant pays those fees' how do you suppose they are paying them? I will give you a hint for free: it's not a special bank account that says 'definitely not paid for by my customers' on it.
2 months ago
When the 'merchant pays those fees' how do you suppose they are paying them? I will give you a hint for free: it's not a special bank account that says 'definitely not paid for by my customers' on it.
Of course. But that is the case for all fees, taxes, surcharges, etc. Money is fungible. There is always some amount of give and take in terms of whether "they" or "me" is the one paying the tax bill/tariff bill/etc in terms of the bottom line.
Given that, and given the necessity of there being some amount of fees to support the credit-card infrastructure, the question for a consumer like me is whether I come out ahead on balance. I can pretty clearly say that I do for the Amazon Amex, and believe that I do for the Wells Fargo.