AmiSight 10/27: Why Is a Restaurant Offering Large Discounts for Cash?
Lately, I have seen several compelling offers at restaurants or retail stores, offering significant discounts to customers who pay cash.
Have you ever wondered what they are up to? It's usually more than trying to avoid credit card fees. These retail locations have often entered into expensive financing arrangements that automatically take a high percentage of their credit card receipts daily.
If you want to learn about these debt traps, I wrote about them in my Inc. column this week.