iEatClams | 10-07-2010 08:01 PM | Quote:
Originally Posted by jasonturbo
(Post 7134946)
Are you fucking retarded? Pretty sure this isnt why they charge outrageous interest rates, and if you dont like it, dont buy shit you dont have the money for.
CC companys charge whatever YOU as the customer let them charge, if everyone would just stop living their lives beyond their means, then credit card companys would have to try a lot harder.
They have high interest rates to make money, not to cover loses... maybe you should check into visa's/mastercard's profits, see what the IPO for VISA was like ad what it did... these companys make piles of money from retards who live their lives making minimum payments. | maybe you should check into visa/mastercard profits.
they make most of their money off of transaction fees. . . . . .they charge up to 2.5% or higher on each credit card transaction. This is why UBC and universities dont allow u to pay with credit cards anymore.
for example, if they charge the businesses 1% on each transaction. and that company does $100K in charges a day. The company is paying visa $1000 for allowing customers to pay with Visa for that day.
These % sound small, but on millions of dollars of transactions per day. . . . . thats why credit card companies make a killing. |