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[–] 7 points 1 year ago (1 child)

It is because credit card companies charge a fee to vendors. It is sizeable enough that credit card companies will offer 1% back so they can make money on the other 2%-4%.

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  • [–] 3 points 1 year ago* (1 child)

    I'd wager it is the 15% or more they can sucker half of people into paying. Cash back is bait.

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  • [–] 3 points 1 year ago (1 child)

    The premium credit cards don't assume standing balances. You typically don't get that much money by being bad with money.

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