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A lot of their fees are redistributed from the poor who struggle with credit card debt to the well off who play the credit card points/rewards game.
by kristofferR 2y ago
A lot of their fees are redistributed from the poor who struggle with credit card debt to the well off who play the credit card points/rewards game.
- KingMachiavelli 2y agoThe actual lender for a CC is not Visa, it's the associated bank that's backing the CC. So the redistribution of wealth is occurring on the banks books not Visa's.
- kristofferR 2y agoYou may be right, but where does all their revenue go then? They can offer their service profitably for 0.1% fees, their fees are often 2-3%.