Reply to "good" credit card customer

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Reply to ""good" credit card customer"

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[quote=Anonymous][quote=Anonymous]Op here. I wasn't reading anything into it, really. Just wondering what the cc company gets out of our relationship when I pay no fee and get cash back. But I guess the answer is just the money they get from the places I use the card.[/quote]

OP you should watch the documentary by Errol Morris called "Mr Debt". Its ALL about this idea of a "good customer" and what it _actually_ means to credit card companies. The documentary was part of a series on people who do interesting things for a living, and this one featured an attorney who figured out that by defending the legal rights of credit card consumers, he could negotiate them out of or reduce their debt and get paid a fee as a fraction of what they were paying the credit card company.

Its a remarkable little film that makes you really understand the sinister side of that phrase. Also, they are not making much off those merchant fees. In fact, they make SO MUCH MONEY off of interest and illegal late fees (or at least they used to make hands over fist in just that alone) from customers that they probably dont even need to collect merchant fees. Its a joke.

I am also a "good customer" but medical bills unpaid for by insurance alone have left me and others in enough debt to make up for in interest rates what the VERY SMALL PERCENTAGE of credit card customers who pay their bill of each month _dont_ pay in interest.

In other words, its not about you at all. But should you ever need to get ito debt because of unforeseen circumstances, and I hope you dont, you would instantly understand how this works.[/quote]

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