It's interesting that Visa and MasterCard are increasing charges to their vendors. What is it about this scenario that we are not being told? Businesses are quick to seize the opportunity to make a profit. So isn't there money to be made by offering discounts to cash-paying customers -- thus avoiding credit card fees?
I'd be delighted to get a 2 or 3 percent discount on a new appliance paid for with cash -- something the store should also be delighted to extend if it's paying 4 percent for my using plastic. I'd even save a little bit on sales tax. Could it be that credit card companies discourage cash discounts? Is that why my offers to pay cash for a discount have been refused? Is that why gas stations advertise "cash or credit -- same low price?" What other explanation is there?
We need a Spitzer fix.
Richard H. Gordon