I don't have to invest any time at all. I just use the (US) card that gives me the greatest benefits, be it cash back or services. Usually I just look at the reward rate, which is a base 2% for me right now going up to 5% for some things.

I love it. As someone who never carries a balance I get paid by banks for doing pretty much nothing at all.

And I don't worry about US retailers, I don't live there.

I should add that rewards are not the best benefits. Sign up bonuses are much more lucrative, running to hundreds of dollars per card, and can often be repeated. Same applies to bank accounts.

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croon 15 hours ago | parent | next [-]

Imagine a world where the pipeline from extra fees back to hoop-hopping cashback didn't exist and your services were just cheaper by the same percentage points instead. It's designed to make money off people slipping up instead of serving customers.

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nutjob2 15 hours ago | parent [-]

Yes, but there are so many financial injustices and inefficiencies in the world.

And it may not work the way you expect. Retailers may favor credit card users if they tend to spend more. There are substantial costs associated with handling cash, so cash users may end up paying more.

	▲	croon 14 hours ago \| parent [-]
		Sure, but I'm not comparing credit cards to cash, but credit card incumbents to hypothetical lower rate ones that don't offer rewards in exchange for risk and busywork.

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gsb 15 hours ago | parent | prev [-]

You're not paid by the banks you're paid by other, usually poorer, customers

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nutjob2 15 hours ago | parent [-]

Incorrect. I am paid by the banks, I have no financial relationship with other customers.

But of course banks make huge amounts of money from poor customers via various fees and interest payments. It warms my heart that I get some of those ill gotten gains insead of the evil banks.

	▲	gsb 14 hours ago \| parent [-]
		In order for the banks to retain the market power required to keep such high interchange fees in place the need to incentivise those who don't NEED to pay with a credit card to do so anyway, and the biggest way they do this is by splitting the loot with you. You share in the loot, and you share in the responsibility for how it was accumulated.