There was so much news here recently about credit cards and how every time you as a consumer uses one the business that is conducting the transaction has to pay a fee. As well, for more high end cards like an American Express Black the merchant gets hit with an even higher fee. This raised an issue on how these high fees result in products being more expensive and so consumers should be more aware on how much the businesses pay whenever you use a credit card.
Maybe it was simply the sources I have been reading, but it seemed like most consumers could care less what the businesses get charged. I even heard comments that went as far as if that company doesn’t want to accept the card because of the fees then they will simply take their business elsewhere. It is a little odd I feel that one would be advocating that a consumer needs to be more aware of these kinds of fees as if you think of it the other way around it’s not like a business openly tells consumers what their at cost for the product or the service they are providing is.
At the same time I know many places, such as restaurants, that only accept cash and therefore they charge a lower price which indeed attracts people. Would you be more inclined to not use your credit card knowing that the merchant gets charged a lot even if it meant that you wouldn’t get your reward points? I know for myself when it comes to a a very small business I am more inclined to not use the credit card because of this reason even if they gave me the option to. For the bigger companies not so much as I know they usually mark up their products way higher anyways.