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I think this is not the case. Actually, it's more like they give you some restricted benefits matching something near the fees incurred. And only if you redeem
by helloguillecl 5y ago
I think this is not the case. Actually, it's more like they give you some restricted benefits matching something near the fees incurred. And only if you redeem them.
It is also virtually cross subsidy from people paying cash/bank transfer to people paying by credit cards.
- refurb 5y agoThe full 2% isn’t squeezed out but a big portion is. When I can sign up for a credit card, charge $5000 then get $800 back, it’s pretty clear the credit card company is using much of that 2% for customer acquisition. And as per my other comment, the customer isn’t necessarily paying the full 2%. If credit card companies became charities and charged 0% would all prices drop by 2%? Of course not.