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Originally Posted by mr priceless
I use a debit card for most transactions, so none of these benefits apply to me.
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Yes, using a debit card is worse than using cash. At least with cash you don't give up your privacy, and you don't risk having a thief (or computer error) raid your checking account (and savings account if you're set up for overdraft).
Quote:
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Originally Posted by mr priceless
Too add, as mentioned in the article, is that station owners may pass the cost on the consumer even if it's at the risk of losing the competitive edge of doing business. That cancels out the incentives.
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It's a bit more complicated than that. If there's any competition for that small station owner, he won't be able to raise prices that much. He'll just have to eat the cost of accepting credit and debit cards.
Also canceling out the incentives may be a bit oversimplified. I earn 5% cash rewards when I use my credit card for gas -- I still come out ahead if the station owner raises his prices 1% or 2% to accomodate credit cards. Whereas the people using cash and debit cards get the shaft.