Are you throwing money away?

I just did a quick calculation on the fees I pay for using a credit card to pay for everything... well everything but utilities and rent.

We don't often think of it, but we pay 3 to 4% extra each time we use a credit card. Sometimes it is added on when you pay and sometimes it is rolled into the price you pay, but we pay it.

For me, it's about $80 a month. So yeah, a cashless world is costly.

This goes for debit cards as well.

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hunkalove · 70-79, M

One reason why I don't have credit cards. I use my debit card and I get interest on it, though just a pittance.

Repete · 70-79, M

@hunkalove I don’t own a credit card either, I do have a debit card but I don’t use that very often.

Ontheroad · M

@hunkalove Debit cards get a processing fee too.

hunkalove · 70-79, M

@Ontheroad Mine doesn't. Or I don't have to pay it.