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The cashback reward programs are funded by the fees merchants are paying. The fact that you are using credit cards to get free money from merchants seems to be
by mortehu 14y ago
The cashback reward programs are funded by the fees merchants are paying. The fact that you are using credit cards to get free money from merchants seems to be an argument in favor of this change.
- testimoney2 14y agoYes I haven't thought of it this way :/. Credit history just shouldn't be based of the amount of usage of credit cards.
- dangrossman 14y agoIt isn't. I had a FICO score of 795 with no credit card utilization at all. I get the best loan terms and was approved for a mortgage of up to a million dollars recently. No credit card utilization ratio is required to have an excellent credit score. Simply having a card and stuffing it in a drawer for a few years, while never missing a utility or loan payment, will hit all the marks that matter.