Today, for example, I went to Trader Joe’s and paid with my Fold card because they are currently advertising a 1.8% merchant boost plus a 1% default category boost.
I completed the transaction but I had to enter my PIN, so in the end, and according to the new rules, I only got the 1.8% merchant boost.
Yeah the VISA fees have changed by transaction type. The whole thing (Fold) works on fee arbitrage that they pass on to the customer in sats instead of taking like every card issuer does.
I have no idea why using your PIN or not has a difference. Sometimes the fiat system makes no sense to me. 🤦🏻♂️
Someone told me entering the PIN means the merchant runs the Fold card as a debit card vs a credit card. If it asks for my PIN. I’ll back out/cancel and try and get it to run through as a credit card. Works most of the time.
Thanks for letting me know! 🫂
Hmm, I’ll try that for sure. I want to see if that works.
