The Daily Money: Hate credit card surcharges?
Good morning and Happy Friday! This is Betty Lin-Fisher with Friday's consumer-focused edition of The Daily Money.
We've all been there: you're ready to pay your bill at a restaurant or checkout at a store. Then the clerk says: "It'll cost 3% more if you use your credit card. Is that OK?" If you're like me, I only carry an "emergency" $20 bill with me, so that usually doesn't cut it.
So I grit my teeth and go forward with the transaction while grumbling to myself about the surcharge.
I'm not alone.
In two separate surveys, a large majority of people faced the same transaction fee to use their credit card and were ticked off that they were being "nickel and dimed" for something that used to be a cost the business paid.
Many people also use credit cards to rack up cash rewards or other perks.
This begged the question: are rewards credit cards worth it if you have to pay a surcharge at the register? Also, make sure to read about a surprising debit card rule you may not know about in my story.
Can young people afford home ownership?
Many young people feel crushed when they think about their ability to buy a home, but it doesn’t mean they’re giving up on the dream.
The average age of first-time home buyers rose to an all-time high of 38 last year, reports my colleague, Rachel Barber. That reality has young people feeling jealous. More than six in 10 Gen Z and millennial non-homeowners said they’re envious of peers who have bought houses, according to a new BMO survey.
How are some young home buyers making it work?
Should travelers turn off Face ID at border crossings?
Rising reports of U.S. Customs and Border Protection searches and detainments have raised concerns among travelers about what could happen if they're stopped when trying to enter the country.
My colleague, Kathleen Wong, outlines travelers' rights at the border and offers tips, including whether you should turn off Face ID at border crossings.
📰 Consumer stories you shouldn't miss 📰
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- How can you listen to audiobooks for free?
- Wholesale costs dropped in April. But consumer price increases may be coming.
- Speaking of price hikes, Walmart executives warn that tariffs will raise prices.
- Airlines are getting stricter about carry-on luggage. Here's what to do about it.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.