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I understand how credit cards work. I also get a lot more out of that transaction fee than just a credit score, so I am OK with it. But my point was just that
by nightski 5y ago
I understand how credit cards work. I also get a lot more out of that transaction fee than just a credit score, so I am OK with it. But my point was just that you don't have to pay interest, it wasn't really about any of that.
- N1H1L 5y agoYeah this whole credit score conversation going on in this thread is very weird. Has nobody here bought a car or applied for a loan ever? And how is Bitcoin going to tell whether you default on loans or not?
- randomdata 5y agoPractically speaking, transaction fees are interest, you just pay it in a roundabout way.
- nightski 5y agoI hate to keep this thread going, but they are more interest on cash payments than anything (due to increased prices) but with the card I get most of that money back in rewards and security (can have transactions disputed on demand and have them instantly removed).
- randomdata 5y agoThat was a fun tangent, for sure, but it remains that you are indeed paying interest, if not directly, in a roundabout way. Credit card companies would not provide you with those benefits if you did not provide them with revenue to justify the cost of the benefits plus some margin of profitability. Nothing in the world is free. At the end of the day, your credit score is bought, as the original topic of this thread asserted.