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Credit card fees in America are >2%, debit (and CC) is limited to <0.3% in Europe. So it makes sense for credit card companies in America to take the occasional
by revelation 9y ago
Credit card fees in America are >2%, debit (and CC) is limited to <0.3% in Europe. So it makes sense for credit card companies in America to take the occasional loss and give out all those gimmicks as long as it keeps people paying mini-VAT on every purchase.
That's before you get into the whole "you gotta build credit" perversion that has Americans go into debt en masse and pay horrid fees on that.
- vinay427 9y agoIf you are in a relatively healthy financial situation, you can also profit off of the system with many of the rewards card benefits in the last several years. One example of this is: https://reddit.com/r/churning https://reddit.com/r/churning