Comments on: Rack up flyer miles or award points on your credit card at no cost! http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/ Gadgets, gear, and greatness for people on the go Sat, 31 Jul 2010 12:41:18 -0500 http://wordpress.org/?v=abc hourly 1 By: Kevin http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/comment-page-1/#comment-1896 Kevin Sat, 04 Jul 2009 00:32:28 +0000 http://www.practicalhacks.com/?p=6188#comment-1896 For the record: banks charge merchants <strong>1 to 3%</strong> plus a <strong>per transaction fee ranging from $ .05 to $ .50</strong> for credit card transactions. <em><strong>Most merchants regard this as a marketing expense.</strong> </em> In return they enjoy a form of payment which is more secure than others, as the bank commits to pay the merchant regardless of whether the consumer defaults on the payment. I'd like to see what proof you have that retail prices are inflated by up to <strong>15%</strong> as the result of merchants accepting credit cards as a form of payment. The reference to "free" simply relates to the fact that you can purchase a $1 coin from the U.S. mint for $1, pay no shipping fee, get 1 frequent flyer mile in exchange, and then pay off the card in full. <em>I'm not sure how this transaction is increasing credit card costs or item pricing for <em>anyone</em>. </em> If you can provide a compelling explanation, I'd love to hear it; thanks for the comment. For the record: banks charge merchants 1 to 3% plus a per transaction fee ranging from $ .05 to $ .50 for credit card transactions. Most merchants regard this as a marketing expense. In return they enjoy a form of payment which is more secure than others, as the bank commits to pay the merchant regardless of whether the consumer defaults on the payment.

I’d like to see what proof you have that retail prices are inflated by up to 15% as the result of merchants accepting credit cards as a form of payment.

The reference to “free” simply relates to the fact that you can purchase a $1 coin from the U.S. mint for $1, pay no shipping fee, get 1 frequent flyer mile in exchange, and then pay off the card in full. I’m not sure how this transaction is increasing credit card costs or item pricing for anyone.

If you can provide a compelling explanation, I’d love to hear it; thanks for the comment.

]]> By: D. http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/comment-page-1/#comment-1895 D. Fri, 03 Jul 2009 21:44:35 +0000 http://www.practicalhacks.com/?p=6188#comment-1895 Didn't Miss The Point....Made One From A Differing Point Of View....I completely understand that frequent flyer miles have benefits to consumers....but really wanted to point out as well...that the cost of simply processing credit card sales by a merchant adds unneeded cost directly to me...to you....to all consumers.... Prices are inflated from 3 to 15 percent by merchants for the credit card simplicity we have grown to enjoy.... But To Claim These Frequent Flyer Miles As "Free" Seems To Me...To Be Incorrect.... Nothing Is Free....The Freebies You All Are Enjoying Get Paid For By Someone.... ...the rest of us.... Enjoy Your Seat Upgrade... DD Didn’t Miss The Point….Made One From A Differing Point Of View….I completely understand that frequent flyer miles have benefits to consumers….but really wanted to point out as well…that the cost of simply processing credit card sales by a merchant adds unneeded cost directly to me…to you….to all consumers….

Prices are inflated from 3 to 15 percent by merchants for the credit card simplicity we have grown to enjoy….

But To Claim These Frequent Flyer Miles As “Free” Seems To Me…To Be Incorrect….

Nothing Is Free….The Freebies You All Are Enjoying Get Paid For By Someone….

…the rest of us….

Enjoy Your Seat Upgrade…

DD

]]> By: Bequals Dee http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/comment-page-1/#comment-1894 Bequals Dee Fri, 03 Jul 2009 21:16:20 +0000 http://www.practicalhacks.com/?p=6188#comment-1894 You're both missing the point B===============================D~~~~~~~~~~~~~~~~~ You’re both missing the point

B===============================D~~~~~~~~~~~~~~~~~

]]> By: D. http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/comment-page-1/#comment-1866 D. Mon, 22 Jun 2009 23:29:10 +0000 http://www.practicalhacks.com/?p=6188#comment-1866 L. Yes. ....but only about as much as the taxpayers are getting ripped off by subsidizing the airlines.... ...and the amount mugged from consumers overall and on every level by the credit-card companies... L.

Yes.

….but only about as much as the taxpayers are getting ripped off by subsidizing the airlines….

…and the amount mugged from consumers overall and on every level by the credit-card companies…

]]> By: L. http://www.practicalhacks.com/2009/06/19/rack-up-flyer-miles-or-award-points-on-your-credit-card-at-no-cost/comment-page-1/#comment-1865 L. Mon, 22 Jun 2009 19:45:23 +0000 http://www.practicalhacks.com/?p=6188#comment-1865 Aren't we as taxpayers getting ripped off by this because we subsidize the free shipping? Aren’t we as taxpayers getting ripped off by this because we subsidize the free shipping?

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