Congress is trying to do away with credit card rewards

[iamwhatiseem]

Well no. I buy local whenever I reasonably can.

It would be cool for that business to not have to pay access fee's. As I said, I don't really see that as something for the government to decide but I'm at a bit of a loss at people thinking that are something special.




I had to fix a water leak yesterday.........one has to understand where this house is located. The nearest hardware store is 20 minutes away and it's has to be one of the few independent hardware stores still around. It's still around because the people still support it.

Stout Hardware Co

They routinely compete with Amazon's lower prices.




Yes, the government subsidizes Amazon shipping and oddly for some reason people support that.

Taxpayer Subsidies to Amazon Now Exceed $3.7 Billion - Good Jobs First

Not apples to apples at all. (Your plumbing part story)
OBVIOUSLY on "need now" products, a local retailer will win. Because you need it now.
The greatest advantage Amazon has is variety of product.
You want to buy a blender.
As a small business, you can only offer a few choices. And you can probably only offer higher quality product lines, because head to head with WalMart or Amazon - they will kill you.
Amazon will offer probably 50 different blenders of all quality levels and pricing. With free shipping.
No one can compete with that. Not in America, where at the very least 95% of consumers only care about price and can they buy it while not having to get out of their recliner to go get it.

 

[pknopp]

Not apples to apples at all. (Your plumbing part story)
OBVIOUSLY on "need now" products, a local retailer will win. Because you need it now.

They sell new hardware that isn't needed now. If my faucet has developed a small leak or I want a new style, I can order from Amazon but people still purchase this stuff at this retailer.

The greatest advantage Amazon has is variety of product.
You want to buy a blender.
As a small business, you can only offer a few choices. And you can probably only offer higher quality product lines, because head to head with WalMart or Amazon - they will kill you.
Amazon will offer probably 50 different blenders of all quality levels and pricing. With free shipping.
No one can compete with that. Not in America, where at the very least 95% of consumers only care about price and can they buy it while not having to get out of their recliner to go get it.

There is no such things as free shipping. As I noted, you are paying for it one way or another. Sadly in many cases with tax payer funded subsidies. But you continue to argue to support that.

Taxpayer Subsidies to Amazon Now Exceed $3.7 Billion - Good Jobs First

Taxpayer Subsidies to Amazon Now Exceed $3.7 Billion - Good Jobs First

goodjobsfirst.org

 

[Moonglow]

Seems silly that digital money is so much more expensive than cash handling.

 

[Harpy Eagle]

A far more in depth analysist of the situation would be required. Not all fee's are the same.

Of course not all fees are the same, but what Walmart adds to their prices is the same for all customers, whether you use a card or have a rewards program.

 

[pknopp]

Of course not all fees are the same, but what Walmart adds to their prices is the same for all customers, whether you use a card or have a rewards program.

No fee's, no difference.

It's all a suckers game. VIsa charges a higher fee but then offers rewards. People believe they are getting something when they really aren't.

Now I have no problem with come on's and promotions, but it isn't what it seems. In the end a small portion of what something costs and as I said, IMO not the governments place, I just got a chuckle out of the huge pro credit card position of the article. I'd be willing to bet one of the credit card companies wrote it.

 

[Harpy Eagle]

No fee's, no difference.

It's all a suckers game. VIsa charges a higher fee but then offers rewards. People believe they are getting something when they really aren't.

And that fee is passed on to every customer of whatever store. Whether they use a card, whether they have a rewards program or not.

 

[pknopp]

And that fee is passed on to every customer of whatever store. Whether they use a card, whether they have a rewards program or not.

I had dinner the other night. There were two charges. One for cash and one for credit. I was better off paying cash and not getting back a few pennies in "rewards".

 

[Harpy Eagle]

I had dinner the other night. There were two charges. One for cash and one for credit. I was better off paying cash and not getting back a few pennies in "rewards".

100%. I like businesses that give you the option and do not just add extra to everyone's price. I ran into a lot of that while moving. The place that made our Plantation Shutters had a cash price and a card price. Same with the moving company.

But since most places do not do that, I might as well get something in back.

 

[pknopp]

100%. I like businesses that give you the option and do not just add extra to everyone's price. I ran into a lot of that while moving. The place that made our Plantation Shutters had a cash price and a card price. Same with the moving company.

But since most places do not do that, I might as well get something in back.

Which is fine, but as you note, you are paying for it. Take a nickel out of one pocket and put two cents back in the other pocket.

 

[Votto]

Do you really not understand that you are paying for these "rewards" with higher prices? Seriously?

I don't think doing away with rewards will cause prices to decrease.

 

[Harpy Eagle]

I don't think doing away with rewards will cause prices to decrease.

Of course it will not. Just as corporate tax cuts never lead to price decreases.

 

[pknopp]

I don't think doing away with rewards will cause prices to decrease.

It would at the mentioned restaurant I was at. At least if I wanted to use my card to pay.

 

[The Original Tree]

Capitalists are greedy pigs.

The greediest pig of all is a Communist Political Shill, right? You should know a lot about that, shouldn't you comrade?

 

[iamwhatiseem]

They sell new hardware that isn't needed now. If my faucet has developed a small leak or I want a new style, I can order from Amazon but people still purchase this stuff at this retailer.




There is no such things as free shipping. As I noted, you are paying for it one way or another. Sadly in many cases with tax payer funded subsidies. But you continue to argue to support that.

Taxpayer Subsidies to Amazon Now Exceed $3.7 Billion - Good Jobs First

Taxpayer Subsidies to Amazon Now Exceed $3.7 Billion - Good Jobs First

goodjobsfirst.org

What?
How am I arguing to support government subsidizing shipping cost for large retailers??
You must be confusing me with someone else.
And for home improvement products of course people buy that local. If you have a leak, you need to fix it today not 3 or 4 days later. (But as things continue to favor large retailers, that day may come where that is your only choice)

 

[pknopp]

What?
How am I arguing to support government subsidizing shipping cost for large retailers??
You must be confusing me with someone else.

You are the one who promoted Amazon's "free shipping".

It's Amazon tax payer funded shipping.

 

[iamwhatiseem]

You are the one who promoted Amazon's "free shipping".

It's Amazon tax payer funded shipping.

What??
Promoted? All I did is say Amazon uses "free shipping"
So, to you, all a person ha sto do is mention something and that automatically means they agree with it??

 

[my2¢]

This article helped somewhat in my understanding of the bill: Credit Card Competition Act of 2022

It kind of reminds me of the electric utility deregulation fiasco.

 

[iamwhatiseem]

This article helped somewhat in my understanding of the bill: Credit Card Competition Act of 2022

It kind of reminds me of the electric utility deregulation fiasco.

It is simply yet another example of our Federal government out to provide service to elites and large corporations.
And, just as typical, sell it as something good for the little guy.

Has been happening daily since the 1980s. And here we are. Major corporations have overtaken nearly every aspect of our economy. All made possible by Washington... BOTH sides of the aisle.

 

[Marener]

This article helped somewhat in my understanding of the bill: Credit Card Competition Act of 2022

It kind of reminds me of the electric utility deregulation fiasco.

I’d be skeptical of that website. Bankrate makes money directing people to credit cards primarily based on their rewards systems.

Not exactly a neutral third party. They have significant financial interests in this bill.

 

[Independent thinker]

Congress Is Trying To Pass a Bill That Will End Credit Card Rewards Programs

This month, congress will vote on a bill to eliminate almost all the funding for popular credit card reward programs like cash back and travel points. This Legislation would allow retailers to process...

www.yahoo.com

So you say you are dying from the massive inflation caused by government? You say your retirement savings is down 30% or more?

Not to worry, they are not done sucking the life out of you yet, after all, they are leaches. No, they want to now take away your credit card rewards to ensure you can never afford anything ever again, like a vacation.

Hilarious. People are charging on their cards, not because of rewards programs, but because democratic policies have made it so Americans can't pay their bills without charging more. They can't see the forest through the trees. Taking rewards programs away isn't going to change the fact that people are being forced to charge in order to survive.