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by kccqzy
2930 days ago
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Depending on which banks. Some banks like Citibank and Capital One are known to target the subprime market. They expect to earn more from interest than from interchange fees. Others, like American Express are the opposite. See here for a table: https://www.reddit.com/r/churning/comments/5oucdq/the_econom... > I don't think there's any card that offers more than 1.5% cash back on everything Not quite true. For example the Citi Double Cash is a card that earns essentially 2% cash back. > And most fees are at least 2% Also not true. It depends on your card category (MasterCard World, MasterCard Elite, Visa Signature, Visa Infinite, etc) and purchase category. This is just the interchange fee, but even including other types of fees, a basic no-frills card can easily cost the vendor <2% in total fees. See all the MasterCard interchange rates (Visa is similar): https://www.mastercard.us/content/dam/mccom/en-us/documents/... |
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