[atmartins]

Cash back? Attention is finite and I don't want a payment processor forcing me to pay a fee so I can turn around and try and earn it back. How about lower the fee and let me keep that 1%?? Then I can earn interest on it for the month, not them. And then I don't have to read additional terms and conditions, use it or lose it, book travel through their marked up garbage store, etc. It's insane to me that you'd defend cash back as some kind of advantage to consumers when it's anything but. It's a crappy product that you can choose to avoid but I want the up front transaction fee reduced by the same amount.

[santoshalper]

Mine is just literal cash I can apply to the balance on my card. Obviously the fact that cash back exists means that the card companies are making even more money on the fees. However, since most stores charge an identical amount whether you use CC or cash, everyone is collectively paying it and you might as well get the cash/miles/rewards back.

The FCBA coverage, on the other hand, has some real value. That said, even though I have used it a few times, I doubt it has saved me as much as I've spent in CC fees.

[multjoy]

They're talking about being able to take cash out at the point of sale, not the shit discount model.