When you buy something with your card, the bank collects a fee from the seller w... | Hacker News

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mikeash on Feb 20, 2016 | parent | context | favorite | on: Why Don't People Manage Debt Better?

When you buy something with your card, the bank collects a fee from the seller which is more than the value of those incentives.

fredophile on Feb 20, 2016 [–]

Unless the seller offers me a cash discount this is already baked into the price. The choices are get something back from using the card or don't.

mikeash on Feb 20, 2016 | [–]

Sure. I'm just explaining why the bank rewards you for this seemingly pointless procedure, not passing judgment on any of it.

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