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by fat0wl 4587 days ago
o my lord. discover card gives you 1% BACK!
2 comments
dragonwriter 4587 days ago
> discover card gives you 1% BACK!

Yeah, the fees credit cards charge merchants (in part, to fund reward programs) is why Google has to charge you money to transfer funds into Wallet from other credit cards (otherwise, they'd be losing money when your money goes from a CC into Wallet and out to pay for something.)

Note that there is no fee when the source is not a credit card.

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aiiane 4587 days ago
Because Discover makes far more than that on people who owe them credit and don't pay it off immediately, so it's in their interest to get more people to owe them credit in hopes that they'll keep a running balance.
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statusgraph 4587 days ago
Credit cards charge merchants for their loyalty programs. They do make money from carried balances, but that's not how reward programs are funded.
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aiiane 4587 days ago
Regardless, the point is that credit cards make money off of each transaction, even if the consumer doesn't see a per-transaction fee.
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