Evidence receipt / evaluation
Published · transcript-backedBen Gilbert: evaluation
27 Nov 2023 Acquired Visa
“The Federal Reserve Bank of Boston determined that on average each year, a household that uses cash to pay for things pays $149 inflated prices, because all prices no matter how you pay have to go up in order to make it so that paying in cash and cards is equivalent, because in most states, it's actually illegal to charge a meaningful premium to people who are using credit cards.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- evaluation
- Recorded
- 27 Nov 2023
- Publisher
- Acquired
- Episode
- Visa
Transcript context
…No matter who's buying the goods and marked up. Right. If you aren't someone that has a rewards-based credit card, then your stuff just got more expensive. The research firm that looked into this, actually, I think it was the Fed. The Federal Reserve Bank of Boston determined that on average each year, a household that uses cash to pay for things pays $149 inflated prices, because all prices no matter how you pay have to go up in order to make it so that paying in cash and cards is equivalent, because in most states, it's actually illegal to charge a meaningful premium to people who are using credit cards. On average, a cash using household pays $149... Effectively in subsidy.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.