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It has no relation to paying interest, only to making transactions with the credit card.
by vasco 1mo ago
It has no relation to paying interest, only to making transactions with the credit card.
- turkey99 1mo agoIf you use a credit card, but can’t pay it immediately then you pay interest. It’s a trap the less wealthy fall into.
- vasco 1mo agoYes that is true, and what I said is also true.
- deleted 1mo ago[deleted]
- iso1631 1mo agoOr you could simply not pay on the credit card, and avoid the trap?
- koolba 1mo agoSpending money on don’t have with no financial repercussions is known as the elusive “infinity money hack”. Which clearly does not exist. Of course there’s going to be a a cost to spending beyond your means.
- nutjob2 1mo agoThis isn't correct, rewards and benefits are not 100% funded by interchange fees. They wouldn't be possible without many customers paying interest.
- kybernetikos 1mo agoThe relationship is that the service and rewards you get are subsidised by generally poorer people who mess up their financial planning.
- vasco 1mo agoRewards are paid out for transactions, not interest paid, that's all. Otherwise poor people failing payments would get more rewards than the rich which don't. The dynamics would be completely different.