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Yes you are, but if you pay in full every month then you don't incur any interest charges. It's a free loan from the credit card company to you. In the past, p
by PhantomGremlin 7y ago
Yes you are, but if you pay in full every month then you don't incur any interest charges. It's a free loan from the credit card company to you.
In the past, people who paid in full every month were called "deadbeats" by the card issuers because they were far less profitable than those who carried a balance.
- chrisseaton 7y agoThe top tier of cards, like AmEx, are usually (not always) charge cards, so they don't structure their business off interest, instead they go for throughput and earn off merchant charges.