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gulliver1 | 09:09 Wed 15th Oct 2008 | Business & Finance
4 Answers
do credit card companies make money on your purchase
as well as charging you interest
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Avatar Image Ethel
Yes the do - the shops pay an average of 2.5% on every transaction.
09:35 Wed 15th Oct 2008
Avatar Image Ethel
Don't forget the interest is optional - I have never paid interest on my credit cards, nor fees or charges of any kind.

09:36 Wed 15th Oct 2008
Avatar Image sandmaster
They certainly do - small retailers can pay as much as 5%.
But you don't have to pay anything if you use the card wisely and pay it off each month. Not always possible, I know.
10:12 Wed 15th Oct 2008
Avatar Image Hermia
Yes, and American Express charges shops more than Mastercard and Visa which is why lots of shops won't accept AMEX cards.
16:51 Wed 15th Oct 2008

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