Posted 4/7/2021 15:40 (#8938291 - in reply to #8938222) Subject: RE: Debit card post
Galaxie64 - 4/7/2021 14:26
Not even close. The CC companies get a cut of every transaction made, that is where the money is at and why they reward people who use the cards the most and pay them off every month the best. They will settle for far less than the debt to people who are underwater and will cripple their credit scores.
The excuse of "I can't control myself financially" for why CC's are bad is a mind boggling argument. By that logic Sugar should be a highly controlled substance.
They get very little. The bulk goes to visa or MasterCard the processor not the bank that issued you the card. By far their largest source of revenue is the amount they charge in interest. I don’t hate cars I use them and claim my rewards and haven carried a balance in nearly 15 years but I realize what the game is.