Every time I process a [rewards-earning] credit card for a customer, I’m conflicted:
- On one hand, I as a merchant know that even though charged transactions bring in a good amount of volume, a bunch of other [unknown] parties are getting a piece of the transaction [due to interchange fees for one] and subsequently “screwing” me over, more so if the customer uses an American Express, World [Elite] MasterCard, and/or a Visa Signature.
- On the other hand, I as a consumer do the same thing on a regular basis, even if it starts to make me feel more and more uncomfortable every time I do so.
- On a similar note, esp. for the rewards-earning cards, do I REALLY want to screw someone over from earning cash back, obtaining a few nights at a five-star resort property, and/or flying first class on a top tier airline? Who in their right mind would not want that after working their asses off non-stop?
You can imagine, then, the mixed reaction whenever I see certain metal charge/credit cards:
- Ahh s***, fees galore…
- Ooo la la…
- Make that time off worth it!