Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costing the Bank Dearly

Re:Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costi... by perks_12 on Monday June 17, 2024 @01:30PM (#40708410)

FYI, latest Q-10 of American Express has Merchant Fees at approximately double the revenue from interest payments. At least there it is true.

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Re:Wells Fargo Bet on a Flashy Rent Credit Card. It Is Costi... by denimnerd42 on Monday June 17, 2024 @01:32PM (#40708442)

And the fees are basically pure profit while the interest payments have a huge cost and risk.

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