I respond to a Ramsey Show clip ‘The Dirty Little Secret of Credit Card Rewards.’
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I noticed Ramsey argues consumers overspend at a merchant when they have credit cards, yet he says merchants also lose due to fees. He ignores that if it’s true people spend more, then the merchant benefits from higher sales. He thinks everything is a lose lose with his conflicting logic.
His morality argument is just strange. If CC increase the cost of everything and are immoral, isn’t it the same for paid ads on his video channel? Ad costs are passed onto consumers. Shouldn’t he stop his own injustice ?
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