7 ms·
No? There's zero % interest for every purchase if you pay for it fully the next billing cycle
by IncreasePosts 4mo ago
No? There's zero % interest for every purchase if you pay for it fully the next billing cycle
- lxgr 4mo agoYes, but consider who pays the merchant fee in the end. Sure, you might be getting a kickback of that in rewards, but usually less than you pay yourself in fees indirectly.
- IncreasePosts 4mo agoVery few places offer discounts for cash, so ultimately everyone pays it, but only those with good credit card rewards get some of it back.
- lxgr 4mo agoYes, that's the problem: Part of people are getting part of the pot of extra money back, through a highly complex coupon collector's version of a Rube Goldberg machine that skews win rates towards those with better credit. It's really the perfect scheme, as the system creates its own never ending supply of advocates.