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A comment on Visa, Mastercard Agree to Lower Swipe Fees, Settling Long-Running Lawsuit. Parent comment

Re:Visa, Mastercard Agree to Lower Swipe Fees, Settling Long... by bryanlarsen on Tuesday March 26, 2024 @12:41PM (#39829907)
According to the OP's link, the credit card companies made $51 billion in interchange fees in 2020. That's mostly from what you call "deadbeats". That's a lot of money. Deadbeats are super-profitable.

Those paying interest & late fees are even more profitable than deadbeats. But make no mistake, the credit card companies love deadbeats too.

[ Parent | on HN ]
Re:Visa, Mastercard Agree to Lower Swipe Fees, Settling Long... by bombcar on Thursday March 28, 2024 @11:04AM (#39852493)
The biggest lie the banks get people to believe is that they're somehow "scamming" the credit card companies by paying off everything in full each month.

No! You're a highly profitable customer! You're the customer they offer $400 to to sign up!

[ Parent | on HN ]