Re:Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costi...
by gojomo on Monday June 17, 2024 @01:28PM
(#40708376)
For those people who don't "make mistakes", the card issuers are still earning:
• part of the 2-3% added to every charge
• fees from promotional marketing, guided by the info in your purchase history, to those customers
• fees from related services the same customers may purchase from the same bank
Even when the high rewards cards marketed to conscientious low-credit-risk customers send back some of that 1-3% as "miles" or "points" or "cash back", the other information/marketing values about high-spending, reliable-paying customers remain interesting.
• part of the 2-3% added to every charge
• fees from promotional marketing, guided by the info in your purchase history, to those customers
• fees from related services the same customers may purchase from the same bank
Even when the high rewards cards marketed to conscientious low-credit-risk customers send back some of that 1-3% as "miles" or "points" or "cash back", the other information/marketing values about high-spending, reliable-paying customers remain interesting.