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According to the OP's link, the credit card companies made $51 billion in interchange fees in 2020. That's mostly from what you call "deadbeats". That's a lo
by bryanlarsen 3y ago
According to the OP's link, the credit card companies made $51 billion in interchange fees in 2020. That's mostly from what you call "deadbeats". That's a lot of money. Deadbeats are super-profitable.
Those paying interest & late fees are even more profitable than deadbeats. But make no mistake, the credit card companies love deadbeats too.
- bombcar 3y agoThe biggest lie the banks get people to believe is that they're somehow "scamming" the credit card companies by paying off everything in full each month. No! You're a highly profitable customer! You're the customer they offer $400 to to sign up!