MacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-210 hours agoWell butter my butt and call me a biscuitlemmy.todayimagemessage-square58fedilinkarrow-up1446arrow-down14file-text
arrow-up1442arrow-down1imageWell butter my butt and call me a biscuitlemmy.todayMacN'Cheezus@lemmy.today to Microblog Memes@lemmy.worldEnglish · edit-210 hours agomessage-square58fedilinkfile-text
minus-squareAsidonhopo@lemmy.worldlinkfedilinkEnglisharrow-up5·2 hours agoI’d never heard of this, how do the banks make any money on the card, annual fees or something?
minus-squarePretzilla@lemmy.worldlinkfedilinkEnglisharrow-up8·1 hour agoThey already make 3% on every purchase
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up1·6 minutes agoNo, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
minus-squareBMTea@lemmy.worldlinkfedilinkEnglisharrow-up1·6 minutes agoYes, we had a flat annual fee for use.
minus-squareFleetingTit@feddit.orglinkfedilinkEnglisharrow-up3arrow-down1·60 minutes agoProcessing or transaction fees. Anytime you use your card for a purchase the bank gets a cut of that. This fee can range from .1% to 4%, depending on the credit card processor.
I’d never heard of this, how do the banks make any money on the card, annual fees or something?
They already make 3% on every purchase
No, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
Yes, we had a flat annual fee for use.
Processing or transaction fees. Anytime you use your card for a purchase the bank gets a cut of that. This fee can range from .1% to 4%, depending on the credit card processor.