With Tesla, you can turn a $2,442 windshield installation into a $3,174 windshield installation through the power of interest.
This is being reported by the Teslasphere as an “excellent option” to restore affordability to a car market that desperately needs more affordability.
Only, neither of those numbers is even in the same ballpark as affordable.
Even when you pay off your balance every time, they still make money charging merchants for every transaction. But yeah, they make shit tons more from people carrying balances.
This is one of the reasons merchant fees are so high in the USA.
In Australia, merchant fees for a medium-sized business are an average of 0.75 to 1.5% for credit cards and 0.25% to 1% for debit cards, according to the Reserve Bank of Australia (https://www.accc.gov.au/consumers/pricing/card-surcharges).
In the USA they’re often over double that. Some payment processors charge 3% or more for credit card processing.
Yeah, it’s an absurd amount. A lot of restaurants add on an extra fee if you pay by card. When will the madness end?
I mean that’s credit cards in general. The alternative would be to switch to a debit card, but as a consumer there’s quite a few protections I’d lose out on like charge backs and fraud protection.
Oh don’t get me wrong, I use credit cards for everything and pay it off in full every month. I get extra benefits over using cash or debit. Gotta play the game