this post was submitted on 02 Jun 2024
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A Boring Dystopia

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[–] Zess@lemmy.world 8 points 5 months ago (2 children)

The credit card company isn't losing money because it's already determined that giving people cash back won't outweigh the interest and fees etc. that they're really making money from. They use incentive programs to lure people in, hoping they won't be able to pay off their balance each month. Those who can are basically getting discounts from the cash back program.

[–] Alexstarfire@lemmy.world 1 points 5 months ago

I've wondered about this for a long time. But I'll never know for sure. Don't know if overall I'm paying more, or a little bit less, with the cashback.

All I know for certain is that, overall, the credit card companies aren't losing money.