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The us is different between the us and Europe, everytime someone uses a credit card there are fees that go to the bank and the credit card processor. In Europe
by spacemanspiff01 2y ago
The us is different between the us and Europe, everytime someone uses a credit card there are fees that go to the bank and the credit card processor.
In Europe these are legally capped, in the us they are not. So the 2% cash back on US cards is the cards and banks competing for market share by providing kickbacks from these fees to customers.
https://www.bitsaboutmoney.com/archive/how-credit-cards-make-money/ https://www.bitsaboutmoney.com/archive/how-credit-cards-make...
- wkat4242 2y agoAh I see, yes here it only costs money (I think it's 25 euro per year or so). And reduces maximum available mortgage so I try to avoid them.