How cash buyers secretly fund credit card rewards #creditcards #personalfinance #money

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Credit card rewards are not free. They are funded by a hidden merchant fee called the McNamara Tax, meaning cash buyers secretly subsidize luxury travel perks.

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0:00 — The credit card rewards illusion
0:22 — Frank McNamara and the Diners Club
0:45 — How merchant fees raise prices
1:00 — Why cash buyers lose money
1:15 — Visa and Mastercard hidden fees
1:44 — The truth about cash back
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