6 ms·
Many years ago, I heard that Capital One's break-even APR interest rate was 9.9%. Any interest charged over that was profit.
by wallflower 11y ago
Many years ago, I heard that Capital One's break-even APR interest rate was 9.9%. Any interest charged over that was profit.
- SeoxyS 11y agoIt depends on the business model. CapOne is basically a predatory lender making money off people who can't pay off their debt. Amex makes money from its high value customers and the interchange fees. Amex's fees are higher, and many of their cards are charge cards (which don't even have an interest rate because they must be paid in full every cycle).