3 ms·
The same as other parts of the world. The biggest difference is no loyalty points. Someone needs to pay for those 50k airline miles if you sign up for a new c
by tiffanyh 2y ago
The same as other parts of the world.
The biggest difference is no loyalty points.
Someone needs to pay for those 50k airline miles if you sign up for a new card. And when interchange is that low, there’s no margin left for bank to offer (pay for) loyalty points.
- adrr 2y agoThere is a cost of the money and it isn’t 0.3% for two months. Banks have to get that money from somewhere and it costs money.
- codedokode 2y agoProbably they hope that credit card owner forgets to pay in time and will have to pay interest.
- ReaLNero 2y agoMonthly fees for the card
- PaulDavisThe1st 2y agoThat would be true if all credit card customers pay their monthly bills in full, every month. However, that is not the world we live in. Most people carry balances a majority of the time, with interest rates significantly above "the cost of money". Further, the banks (really: card issuers) (in the US, at least), are collecting 0.5-4% of all transactions as fees.