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It must be tough being only a credit card and not also a person's bank— there's just way less info to go on about their financial practices.
by mikepurvis 2y ago
It must be tough being only a credit card and not also a person's bank— there's just way less info to go on about their financial practices.
- inkyoto 2y agoThe main product of AMEX is not a credit card. It is a charge card which sets them apart from the credit card business and brings a higher yield to AMEX, the business.
- margalabargala 2y agoThe main product of AMEX is access to its cardholders. Because they are picky about who receives their card, an amex cardholder is likely to spend more than a cardholder of another network. This is why businesses accept amex despite the much higher merchant fees; the higher spending by the cardholders means that businesses accepting amex tend to come out ahead anyway, by virtue of selling more to amex cardholders.
- apple4ever 2y agoWell it's not perfect because they didn't accept me and I spend a great deal but always pay my debts.
- Havoc 2y agoDunno about others but for me the vast majority of tx do go through the card. But yeah I guess they’re blind to stuff like rent and cash bal on hand.