Two things... For every person on here that is paying their card off each month, there are at least 5 times as many that don't/can't. With the interest and penalties for not paying it off or missing the payment deadline, the credit card companies are not missing anything.Its really amazing how credit card companies can afford to give points and cash back to everyone if they're all paying their balances every month.
I have the Chase Freedom credit card (the basic Chase credit card that’s no fee), but I’m also a Chase Private Client. As such, the bank refunds all ATM fees by non-Chase ATMs. For instance, two days ago I needed some cash but the only available ATM was at a Love’s truck stop. The ATM as non-Chase and advised that a fee of $3.95 would be assessed. That’s four percent on a $100 withdrawal! After I made the withdrawal, I checked the receipt and sure enough it showed a $103.95 withdrawal. I knew Chase would refund the fee so I didn’t worry about it. I went online yesterday to check my Chase account and sure enough, Chase had refunded the $3.95 fee. I love my Chase Private Client account because it links my Chase brokerage accounts with my checking and savings accounts. The requirement for private client status is $125,000 in account total assets (checking, savings, brokerage, CDs, etc)Two things... For every person on here that is paying their card off each month, there are at least 5 times as many that don't/can't. With the interest and penalties for not paying it off or missing the payment deadline, the credit card companies are not missing anything.
Giving points is just the icing on the cake to make you use them...
American Express Cash Back credit card and Wells Fargo Visa card holder. Only got a debit card last year because the banks wouldn't let you go inside and a couple of times I had to use the atm. Only used it twice. Now locked up in the safe.
Also just got a Verizon Visa. They give cash back or you can reduce your monthly cell phone bill. Paid my Football tickets for this year with it, and now get $88 off my cell phone bill this month.
Ain't life grand???