this post was submitted on 31 Mar 2025
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[–] [email protected] 10 points 3 days ago (2 children)

No, cashback is literally a "use this credit card and we'll give you 1% of your money back as a reward" then they charge the vendor 3% to process the transaction.

[–] [email protected] 1 points 1 day ago (1 children)

but you can easily get more than 1%. You can easily get 4% for stuff like gas and groceries. It adds up to quite a bit over the course of a year

[–] [email protected] 1 points 1 day ago

Yes and no, those rewards increase the prices charged by the retailer.

Then the credit card company's ban charging extra to cover that.

It's inherently a monopolistic exploit.

[–] [email protected] 2 points 3 days ago

Oh, ok.. gosh... Thanks for explaining.