this post was submitted on 01 Jun 2025
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[Migrated, see pinned post] Casual Conversation

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We moved to !casualconversation@piefed.social please look for https://lemm.ee/post/66060114 in your instance search bar

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[–] HobbitFoot@thelemmy.club 7 points 5 days ago (4 children)

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%.

[–] lemming741@lemmy.world 3 points 5 days ago* (last edited 5 days ago) (3 children)

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

[–] HobbitFoot@thelemmy.club 3 points 5 days ago (2 children)

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

[–] lemming741@lemmy.world 2 points 5 days ago (1 children)

Wow I never knew credit scores could be triple digits.