How do they make money on you? Just by selling your name and address?
Probably by hoping that I trip up and become not so responsible. It is not that important for me actually, I was going to cancel my card if they didn’t give me a better rate. It just gives me options if need access to additional funds quickly.
They make money even if the user pays in full every month. Vendors pay a 3% fee every time they accept your credit purchase.
The credit card company charges the retailer 3% processing....so they are making money on the transaction.
“How do they make money on you?”
By charging every business a % for taking your card.