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Anon on credit scores (sh.itjust.works)
submitted 2 years ago by to c/greentext@lemmy.ml
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[–] 4 points 2 years ago (2 children)

They also take a percentage of every transaction. Your 'reward points' came out of your own pocket in the form of credit card processing fees that are baked into the price of everything you buy.

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  • [–] 2 points 2 years ago

    Visa takes a cut from transaction, only a portion of that goes to the bank. I get 2.5% cash back on my transactions, but Visa only charges a 2.24% transaction fee. There must be more to cash back than the transaction fee.

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