How credit cards make money

Re:How credit cards make money by rootsudo on Friday November 05, 2021 @11:27PM (#29127251)

A waste, get cash back on credit cards for grocery, 3%. Not shocking or great, but 3% on an annual bill of $10,000 is a nice $300, maybe a week of free groceries?

Paycheck to cards not attached does not matter, ACH transfers can still be done much easier vs a EMV/Stripe read of a debit card.

So all you are doing is amplifying your risk without any reward.

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Re:How credit cards make money by tehwebguy on Saturday November 06, 2021 @02:35AM (#29128005)

Wife picked up the Amex Plat right before the signup offer & annual fee changed drastically this year, offer was 10X on the first $15k spent on gas & groceries and 100,000 points after spending I think $6k within 6 months.

Only using it on gas & groceries, will average 16 points per dollar (approx 12-16%) when we reach $15,000 spent total.

The new deal is similarly structured but horrible in comparison, “shop small” is the category so it’s not realistic to max out the bonus spend without overspending.

[ Parent | on HN ]