As the title said I’m wondering how many people will continue to use credit cards as a main method of payment even with the fee of up to 2.4%. Personally I will be going to cash or debit for everything I can going forward, I know you get points with credit cards. I am an avid fan of the PC optimum card, however after reading an article by CBC this morning I don’t think the benefits will out way the added costs for me.

“A Bank of Canada report last year found that Canadians racked up $3.4 billion worth of rewards from their credit cards in 2018, with higher-income earners benefiting the most because they are far more likely to use credit cards as payment.

Those rewards come at a steep cost for merchants — more than $11 billion in 2018, the central bank found — but many consumers will be unlikely to give up those perks.”

To me as a one consumer I can’t justify that negative return as the cost of everything has already skyrocketed. Just my thoughts, interested in what others have to say/how they feel on the matter.

Side note – As a society how much longer can we steal from the foundation to build the walls?