Why would B&H promote this??

Started 2 months ago | Discussions thread
Tom_N Forum Pro • Posts: 15,781
Re: Why would B&H promote this??

WunWegWunDarWun wrote:

All the credit card "cash back" programs are based on having some people not pay on time and end up paying interest, the fewer customers they have and the better they are on average paying their CC bills on time the higher the APR would have to be.

Depends on the "cash back" level.  Remember that the credit card companies get several percent of each sale even if you never carry a balance.

For instance, suppose that you do all of your grocery shopping with cash or a debit card.  A card issuer offers a "1% cash back" card to get you shop with their credit card, instead.  It might be worth it to them to give up 1/3 of the merchant fee on grocery sales in order to get the other 2/3 (2% of your grocery spending) they would not otherwise have had.

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tko
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