We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
why do they do it
pors12
Posts: 8 Forumite
why do credit card companys want our debt? i can appriciate (if not spell it!)
people who dont pay on time they can get money from them but what about
other people whats in it for them, then?
how do they make money with now intrest on payment?
iam curious
people who dont pay on time they can get money from them but what about
other people whats in it for them, then?
how do they make money with now intrest on payment?
iam curious
0
Comments
-
Its all a balance - they obviously have a rough idea of what percentage of customers are not going to pay back the debt (often called bad debt in banks profit reports), but overall they know most people will eventually pay back the full amount, and on the way make them a tidy little sum of extra money.0
-
Also credit cards used for spending generates a small percentage for the issuers (not paid to the merchant) even if no interest is charged......under construction.... COVID is a [discontinued] scam0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards