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<p>[QUOTE="-jeffB, post: 1360196, member: 27832"]I'm all in favor of transparency. Let merchants and customers use credit and debit cards, but put the fees in their faces. I don't see any reason for a merchant to eat a 2% fee on a credit-card transaction, except that the credit-card companies have the monopoly and trust/conspiracy muscle to force them.</p><p><br /></p><p>As long as it saves me nothing to use cash, I'll use credit cards for their security and convenience. (One credit card takes up less room in my wallet/pocket than almost any amount of cash, it can easily be replaced without cost to me if it's lost or stolen, and I don't need to drive to and/or pay fees at an ATM to replace money I spend.)</p><p><br /></p><p>If merchants are allowed to pass CC fees along to me, I'll choose to use cash more frequently, but I'll still sometimes use the card for convenience. But I'll also expect the CC providers to compete on rates, once consumers can see which ones are cheaper, and I think that'll drop fees considerably from their current levels. Technology has gotten a lot better and cheaper, without a corresponding drop in CC overhead rates.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 1360196, member: 27832"]I'm all in favor of transparency. Let merchants and customers use credit and debit cards, but put the fees in their faces. I don't see any reason for a merchant to eat a 2% fee on a credit-card transaction, except that the credit-card companies have the monopoly and trust/conspiracy muscle to force them. As long as it saves me nothing to use cash, I'll use credit cards for their security and convenience. (One credit card takes up less room in my wallet/pocket than almost any amount of cash, it can easily be replaced without cost to me if it's lost or stolen, and I don't need to drive to and/or pay fees at an ATM to replace money I spend.) If merchants are allowed to pass CC fees along to me, I'll choose to use cash more frequently, but I'll still sometimes use the card for convenience. But I'll also expect the CC providers to compete on rates, once consumers can see which ones are cheaper, and I think that'll drop fees considerably from their current levels. Technology has gotten a lot better and cheaper, without a corresponding drop in CC overhead rates.[/QUOTE]
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