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by Retric
5843 days ago
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If you borrow 1000$ a month every month and pay it off they get fees. Each 1/2% in transaction fees works out to (12 * .5% * 1000) = 60$ / year aka the equivalent of ~6% in interest. But, cards that offer cash back can eliminate this. So they only make money off of interest and late fees. |
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