| ▲ | functionmouse 5 hours ago |
| Yes, but it's a statistically negative sum game for the customer. Visa wouldn't offer such a service if they weren't winning out in the long run, collecting rent on every one of your purchases. |
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| ▲ | californical 5 hours ago | parent | next [-] |
| That’s like telling people not to get homeowners insurance for the same reason Like, yes, it’s technically a bad deal. But it’s still worth the extra cost for most people |
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| ▲ | amanaplanacanal 4 hours ago | parent | next [-] | | Insurance like that is normally because if the potential size of the loss. Losing a house is way more than most people could stand. A closer example might be buying the extra service contract on every electronics purchase you make: that's usually a bad deal. | |
| ▲ | hvb2 4 hours ago | parent | prev [-] | | > But it’s still worth the extra cost for most people. Is it? You charge back over 2% of your transaction volume? If you don't then just removing the middleman will make everyone happier. If you do, I have questions as to why... | | |
| ▲ | izacus 4 hours ago | parent [-] | | If they'd come close to such chargebacks, they'd already be kicked out of the system and blocked. |
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| ▲ | SomeUserName432 5 hours ago | parent | prev | next [-] |
| I am sure they gain something from it. My Brazillian bank charges me 600% yearly interest on credit card purchases. However, the cost of a lawsuit can quickly offset the costs of a CC. Depending on the state, there may not be a maximum cap on expenses, making lawsuits incredibly expensive. (Whereas having paid by card you could ask for a chargeback instead of needing to sue) It's also a very time consuming ordeal having to sue vendors in these instances. |
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| ▲ | BurningFrog 5 hours ago | parent | prev [-] |
| You're describing the concept of insurance. |
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| ▲ | functionmouse 4 hours ago | parent [-] | | I know ;) | | |
| ▲ | Aachen 2 hours ago | parent [-] | | I can't imagine in what world it sounds like a good idea to attach an extra insurance product as a mandatory step to use cash online. Feel free to take out insurance for every 5€ product you buy online but I don't want to pay an extra % of my income to the finance industry just to use the money I've earned |
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