05-11-2008 01:54 AM
05-11-2008 05:49 AM
05-11-2008 08:52 AM
05-11-2008 09:06 AM
05-11-2008 09:31 AM
This is why the good CCC's will keep you and give you CLI's, even if you never carry a balance and get rewards: if you use the card enough, they're making enough money off of you through transaction fees that they're willing to keep paying rewards and forego any profit from APR's and fees.
You'll hear a lot of cynics say that you have to carry balances and so forth to get some luv from CCC's, and that might well be true of store cards and some of the less-than-prime bank cards, but I've never found that to be true of CU cards and the big bank cards (American Express, Discover, citi, Chase, BofA, etc.)
There are lots of different ways for CCC's to make money off of us consumers. I like the win-win ways!
05-11-2008 10:05 AM
I read an article somewhere that Visa/MC charge 1.7 percent for credit, and 1.2 percent for debit transactions, Amex is 2.4-ish percent, and Discover was close to 4 percent.
I think that's the big reason some places don't take Amex or Discover.
05-11-2008 10:25 AM - edited 05-11-2008 10:26 AM
05-11-2008 10:33 AM
fender wrote:"transaction risk ("card not present" vs an in person transaction), etc."how can that be true, the bank sees it the same either way, the cashier types the account number in, would be the same as a cards magnetic strip not working.
Message Edited by fender on 05-11-2008 10:26 AM
05-11-2008 10:46 AM - edited 05-11-2008 10:52 AM
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