I have a way that I save money. My wife and I have four different cashback credit cards that we use on a daily basis. Each one gives us great terms. One gives us 5% cashback on fuel and groceries. Another, 5% cashback on Amazon. A third is 5% on dining out, and the fourth is 5% on travel and hotel stays. There are other deals. All in all, we probably spend $50k a year on those cards. We pay the cards off every month. It’s like giving yourself a raise. I get money, the issuing bank for the credit card makes money, the processor makes money.
Why is this important? Because Giffords is pressuring banks to flag and prevent credit cards from being used to buy guns and ammunition. That kind of shit has been tried before. When Citibank did a similar thing back in 2018, I immediately canceled by credit card with them. The company that the card was for was Best Buy. I haven’t bought anything from them since, nor have I done any business with Citibank.
So here is my announcement: You aren’t going to stop me from buying guns and ammo. You are just going to stop yourself from making money on the deal. I won’t hesitate to cancel every credit card that I have with your company. Someone will make money on the deal, it just won’t be you, and I will still have my guns and ammo. So die on that hill, and see what happens.
I know that $50k a year doesn’t seem like a lot, but there are millions of people who buy guns every year. Now imagine that you not only lose the processing fees from those sales, but losing the fees from every purchase those people would have made. Now it’s billions of dollars in lost business. Every. Single. Year.
Go ahead, FAFO.