poor credit personal loans based on income

If the price of gas is cheaper using cash, then what else is?
Poor Credit
Image by eric731
At our local gas station, the sign above was posted on the digital display at the gas pump. It said that my gas purchase would be cheaper by the gallon if I used cold hard cash.

Why would a business offer a cheaper price to a customer for using cash?

The price of using a credit card, especially a rewards credit card, is the transaction fee that is charged a business by the credit card company. Of course, a business is not going to freely pay the fee. They will roll that fee into the price of the product thereby raising prices on products and services. As "rewards" credit cards get more popular and grant even larger "rewards" it causes even larger fees to the business which that have to keep driving up prices to keep up with "reward" demands.

However, if a business can convince someone to use cash instead, then that business would be able to charge less for their product or service than their competition. That could prove to increase business overall by offering lower prices.

This helped prove to me the cost rewards credit cards have on our economy. As more people "earn their rewards", they drive up the price of all products and services.

Which leads to the following question…

How can the poor, who have less access to "rewards", keep up with raising prices caused by the large transaction fees of the rich and middle class "rewards"?

If we seek social justice then we must be willing to give up our "rewards" in order to keep prices low, so the poor has a better chance to keep pace. Otherwise, as we seek more "rewards", we drive prices up, and leave more poor people behind.

www.beatingdebt.org/forum/viewtopic.php?f=44&t=119

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