[quote=scaredyclassic]i cant think of literally anything i dont buy with a credit card.
even my 2.00 double espresso.
it would COST me a lot of money to transact in cash. i spend maybe 35k a year on the 2% back card, so id be losing 700.00 by carrying cash.
still, i carry $100 for old times sake.
the only thing people will need cash for is legal weed, yard sales, and panhandlers.[/quote]
The way it actually happens with credit cards is an interesting study. Credit card charge transaction fees from 1% to 3% to all vendors accepting credit cards. Some credit cards also have yearly/monthly ‘management’ or ‘membership’ fees. Credit card companies have also fought any attempt for vendors to have different prices for credit buys vs cash (ie discount for cash transactions).
Therefore the 2% cash back might not be that great a deal with all things figured.. though it is a question as to who gets the shaft. Either way, the credit card companies come out on top.
