2 ms·
> It's like they didn't even want me as a customer if I was going to pay my bills every week. I semi-suspect you know this, but if you pay in full every month,
by jldugger 9y ago
> It's like they didn't even want me as a customer if I was going to pay my bills every week.
I semi-suspect you know this, but if you pay in full every month, they don't get to bundle your debt up and sell it off as a security. Interchange fees are competitive enough that it's probably close to break even (and getting more so every year), but the securities are comparatively pretty sweet for the issuers.
- stevekemp 9y agoWhile you're probably correct its worth remembering that credit-card companies get their money from both sides: * They earn money via the interest people way if they don't settle their bills in-full, and on-time. * But they also take money for handling transactions at terminals, etc.