Beware of Gas Pumps

[Bestwifeever]

I imagine the CC companies make most of their money from merchant fees. They would like us all to make minimum payments every month, but they really want us using the cards as mch as possible. The cash back rewards can't hurt them too much or they would stop the programs--the rewards get us to use their cards more often.

 

[audreyh1]

I have heard that the industry's word for people who pay no cc interest charges is "Deadbeats". Kind of ironic isn't it.

But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.

 

[Walt34]

But they do make money on us - the transaction fees. For people who run up large charges, they make good money off us even when we pay it off.

Oh sure, I knew that. A few days ago I got an offer from Sears on their M/C card that I use - 20% back in a statement credit for using their card anywhere but Sears up to 12/31. A while back they sent me one for 10% back in statement credit and I signed up for that one too. This one overlaps the previous one.

I think what they're trying to do is change ingrained habits, get me to use their card more for a couple of months, and hope I keep doing it when the offer expires.

But I still pay it off every month.

 

[HFWR]

And what about the many of us who not only pay off our CC bills every month but also earn money from cashback benefits? THEY pay US to use THEIR cards LOL! What would they call us, Profiteers?

I don't care what they call me as long as the rebate check doesn't bounce.

 

[audreyh1]

New Krebs article on gas credit card skimmers and subsequent fuel theft rings. http://krebsonsecurity.com/2015/11/gas-theft-gangs-fuel-pump-skimming-scams/