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That's how all credit cards work, and how they exist as a business. You making minimum payments is how they can pay for everything they offer. How exactly do y
by sergiotapia 10y ago
That's how all credit cards work, and how they exist as a business. You making minimum payments is how they can pay for everything they offer.
How exactly do you think they offer miles, cashback, etc? It all comes from somewhere. That somewhere being people who pay interest by making the minimum payment.
Learn how to use your credit cards properly. It's simple: Pay off your complete balance every month.
- AjithAntony 10y ago> That somewhere being people who pay interest by making the minimum payment. Skeptical. I have done no research, but my instinct is that banks make more on the transaction fees than the interest. That somewhere is all of us paying higher prices to account for those transaction fees.