Hacker News new | ask | show | jobs
by clintonb 1795 days ago
T-Mobile: helping the underbanked.

The others: profiting from interchange fees. If you can get your card to be “top of wallet” you can get a cut of every purchase a consumer makes. If you are a store, like Target, you can also drastically reduce the processing fees you pay to card issuers by redirecting those funds to yourself.
1 comments
misterprime 1795 days ago
I self identify as middle class. It was pretty exciting when my wife and I both opened T-Mobile Money accounts and capped out their $3,000 balance for access to 4% APR. Even the 1% APR for additional funds is attractive, as far as a savings account goes, no?

We also use the Target Red Card to save 5% at Target and the Amazon Chase card to save 5% at Amazon.

link