Credit card companies charge merchant fees of 1.5-3%. They transfer much of that directly to card holders as 1-4% cash back. Merchants generally charge the same prices for credit card vs cash. The result seems to be a small but universal penalty on people who pay with cash. 😢
something something “moat” something something “synergy”
something something credit card companies lobbied to make sure by law that cash payers got charged the same nerdwallet.com/blog/credit-ca…
~2% seems reasonable to maintain privacy no? would be happy to forgo cashback if CC company and merchant never store, share, or use data expect for clearing payment