Might want to check, because the banks are passing along inflation in the form of a 1.5% - 2.0% increase.
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I never pay interest because I pay it off every month. The bank pays ME in the form of 3-5% cash back every month.
That's about what you have to pay the merchants extra for everything you buy with plastic. Local restaurants here charge 3% extra if you use plastic instead of cash. And that even includes debit cards.
Yeah. They're just handing you free cash!
They charge everyone that accepts your plastic more than you get back. It's a neat little scam, gets you to pressure merchants to accept the card, but then you don't want to pay extra to use it... So the merchant distributes the card processing fees across all their transactions. Now cash customers (and everyone really) pay more, the bank makes money and you get a little piece.
Congratulations! You just made life a little worse for everyone. Except the bank.