@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Just sounds like they're trying to make a little bit of money by offering that option.
Annnnnnnd your current non-Amex cards are not making money off of you by charging interest or annual fees??? How is that any different???
Corporations are in it to make money, NOT lose money.
With my minimal spending habits, my cards are probably losing money on me. None have annual fees, I only buy stuff that gets me cash back, and I don't run balances. In fact, if I were a credit card company I would hate me.
Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees.
No matter how you look at it, THEY ARE making their moolas. Trust me, they are. 
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Just sounds like they're trying to make a little bit of money by offering that option.
Annnnnnnd your current non-Amex cards are not making money off of you by charging interest or annual fees??? How is that any different???
Corporations are in it to make money, NOT lose money.
With my minimal spending habits, my cards are probably losing money on me. None have annual fees, I only buy stuff that gets me cash back, and I don't run balances. In fact, if I were a credit card company I would hate me.
Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees.
No matter how you look at it, THEY ARE making their moolas. Trust me, they are.
Depending on the merchant's contract volume, the swipe fees range between .75% and 2.5%. Every time I buy groceries at Safeway with my Sallie Mae, Barclay's is losing money. Same for gas with SM and when that's the rotating category with Discover. This month I had a little extra in my food budget, so I ate at restaurants a couple times. Discover got that action at 5% back to me, again losing money. My personal spending consists of almost nothing outside of necessities.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Just sounds like they're trying to make a little bit of money by offering that option.
Annnnnnnd your current non-Amex cards are not making money off of you by charging interest or annual fees??? How is that any different???
Corporations are in it to make money, NOT lose money.
With my minimal spending habits, my cards are probably losing money on me. None have annual fees, I only buy stuff that gets me cash back, and I don't run balances. In fact, if I were a credit card company I would hate me.
Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees.
No matter how you look at it, THEY ARE making their moolas. Trust me, they are.
Depending on the merchant's contract volume, the swipe fees range between .75% and 2.5%. Every time I buy groceries at Safeway with my Sallie Mae, Barclay's is losing money. Same for gas with SM and when that's the rotating category with Discover. This month I had a little extra in my food budget, so I ate at restaurants a couple times. Discover got that action at 5% back to me, again losing money. My personal spending consists of almost nothing outside of necessities.
Well, yeah, a lot of people here cost credit card companies money, so yeah, they probably are losing a bit on you. But for every person like you who's spending patterns fall within the higher category rewards and who pays in full, there's a person who just puts everything on one card regardless of rewards structure, if any, or another person who carries a balance, etc.
If the cards weren't profitable in some way or another, they'd get nerfed. The lucky few that keep itemized spending on cards specific to rewards structures and pay in full reap the benefit because of the others who don't rewards chase.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Just sounds like they're trying to make a little bit of money by offering that option.
Annnnnnnd your current non-Amex cards are not making money off of you by charging interest or annual fees??? How is that any different???
Corporations are in it to make money, NOT lose money.
With my minimal spending habits, my cards are probably losing money on me. None have annual fees, I only buy stuff that gets me cash back, and I don't run balances. In fact, if I were a credit card company I would hate me.
Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees.
No matter how you look at it, THEY ARE making their moolas. Trust me, they are.
Depending on the merchant's contract volume, the swipe fees range between .75% and 2.5%. Every time I buy groceries at Safeway with my Sallie Mae, Barclay's is losing money. Same for gas with SM and when that's the rotating category with Discover. This month I had a little extra in my food budget, so I ate at restaurants a couple times. Discover got that action at 5% back to me, again losing money. My personal spending consists of almost nothing outside of necessities.
Well, yeah, a lot of people here cost credit card companies money, so yeah, they probably are losing a bit on you. But for every person like you who's spending patterns fall within the higher category rewards and who pays in full, there's a person who just puts everything on one card regardless of rewards structure, if any, or another person who carries a balance, etc.
If the cards weren't profitable in some way or another, they'd get nerfed. The lucky few that keep itemized spending on cards specific to rewards structures and pay in full reap the benefit because of the others who don't rewards chase.
+1
Well said.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Just sounds like they're trying to make a little bit of money by offering that option.
Annnnnnnd your current non-Amex cards are not making money off of you by charging interest or annual fees??? How is that any different???
Corporations are in it to make money, NOT lose money.
With my minimal spending habits, my cards are probably losing money on me. None have annual fees, I only buy stuff that gets me cash back, and I don't run balances. In fact, if I were a credit card company I would hate me.
Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees.
No matter how you look at it, THEY ARE making their moolas. Trust me, they are.
Depending on the merchant's contract volume, the swipe fees range between .75% and 2.5%. Every time I buy groceries at Safeway with my Sallie Mae, Barclay's is losing money. Same for gas with SM and when that's the rotating category with Discover. This month I had a little extra in my food budget, so I ate at restaurants a couple times. Discover got that action at 5% back to me, again losing money. My personal spending consists of almost nothing outside of necessities.
Well, yeah, a lot of people here cost credit card companies money, so yeah, they probably are losing a bit on you. But for every person like you who's spending patterns fall within the higher category rewards and who pays in full, there's a person who just puts everything on one card regardless of rewards structure, if any, or another person who carries a balance, etc.
If the cards weren't profitable in some way or another, they'd get nerfed. The lucky few that keep itemized spending on cards specific to rewards structures and pay in full reap the benefit because of the others who don't rewards chase.+1
Well said.
Very true in general, but your reference of Nahhhh, they still love you because every swipe you make at a store or online, they are still making their merchant account fees was specific to me. They don't love me. In credit card company parlance I'm considered a deadbeat.