Credit card companies make money when people don't pay their bills on time.
How Credit Card Companies Make Money
https://www.investopedia.com/articl...0916/how-credit-card-companies-make-money.asp
-Credit card companies charge stores approximately 2% to 3% of each credit card purchase.
-A significant amount of card users do not pay their bills in full each month. The customer’s unpaid credit card balance starts to incur interest at rates as high as 12% or more, which goes to the credit card company.
-Credit card companies tag on a variety of fees in addition to their late fees
How Credit Card Companies Make Money
https://www.investopedia.com/articl...0916/how-credit-card-companies-make-money.asp
-Credit card companies charge stores approximately 2% to 3% of each credit card purchase.
-A significant amount of card users do not pay their bills in full each month. The customer’s unpaid credit card balance starts to incur interest at rates as high as 12% or more, which goes to the credit card company.
-Credit card companies tag on a variety of fees in addition to their late fees