this post was submitted on 28 Nov 2023
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The bank, card network, and processor all make fees off every transaction. I charge ~$70,000 per year on my card while paying in full every month. I get ~$1,200 back as a reward. The various institutions split an average of 2.5% per swipe...or ~$1,750 (though probably higher).
No such thing as a free lunch, my friend. As you pay more on everything at retail as prices rise to cover.
Yep, good old processing and interchange fees. Someone has to pay them.