The Surprising Way Credit Cards Make Money

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Information The Surprising Way Credit Cards Make Money

Title	:	The Surprising Way Credit Cards Make Money
Lasting	:	21.03
Date of publication	:
Views	:	405 rb

Thanks for watching PolyMatter this year and see you in 2025! By the way, Nebula now offers the ability to gift memberships at giftnebulatv/polymatterbrbrTake care and happy holidays!
Comment from : @PolyMatter

MasterCard and Visa are fuckin cancer Needs to be illegal under pain of death to tell people what they should buy and what they are not allowed to buy
Comment from : @FitzChivalryFarseer2

what about the extra money that merchants get which was accounted into interchange fees when a customer pays through cash? Wouldn't it incentivise them to give some discounts or some rewards of their own for cash payment or is that loophole closed by making that illegal too?
Comment from : @kabirraval1316

Are you from US? it's not true that a person with no credit history, can apply for thousands worth of credit card moneybrbrOptions are limited to Secured Cards with Security deposits
Comment from : @Kitsune_Dev

uhhhhhhhhhhhhhh, is it perhapsmaybeinterest?
Comment from : @balanzed5713

Checks,Stims,CC,Logs,bank drps Usaa, Any cu, Boa, Region, cap1, citi, Chase Pm fa real plays brAll You Need Is God, A Plug & A Cook, Focus Young Nigġå🅰️🅿️ HoodFavoriteSki✍🏽
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Comment from : @merryme9766

i am a terrible credit card customer i'm too good at paying them back
Comment from : @caleb22lr

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Comment from : @SHANNONHUNTER0

America indeed is living in a credit card paradise Here in the Philippines, banks requires atleast 2 years of employment tenure and a required annual income of no less than 180,000 pesos or 3,200 dollars for you to be able to apply for a credit card Credit cards are basically a status symbol here
Comment from : @blackplastron

Prob Unpopular take here but credit card rewards are actually good It rewards prudent financial management and incentivizes innovation and consumption (important part of the US economy) Credit cards also come with a bunch of consumer protections that don't exist for debit cardsThe fact that Europe (as usual) thought regulation is a good idea just deprives smarter and more financially literate europeans to lose out Europe's entire philosophy is to impose rules to control everything because it assumes people and businesses are idiots brbrSo screw regulation, there is no "problem" to solve here
Comment from : @fizzi5363

GUYS!!! Please listen to DAVE!!! Don’t be bank puppets!! DAVE RAMSEY CHANGED MY LIFE!!! God Bless you all
Comment from : @cornbreadman26

this video did enlighten me but I don't see myself giving up my Amex Gold just because of this
Comment from : @theworld_is_a_littleblurry

Crypto solves this Specifically ICP
Comment from : @Greyalien587

More perks means higher interest
Comment from : @videomaker012

damn, just got my first cc at 35, and it happened to be amex was bundled with payback wellll happens not many places that accept them anyway in germany
Comment from : @majstealth

Just use cash
Comment from : @sergenalishiwa9097

<3 regulations, i guess? (:
Comment from : @Pedrorcs

Corrupt Americans lol 😂
Comment from : @TALK-is1qd

More regulation is not the answer
Comment from : @alterego3734

idk if it paradise or hell
Comment from : @Shammer1

this is very dark, please king save us
Comment from : @Zinacharme

The 18 year old thing is a LIE I get denied every god damn time!
Comment from : @castunderworld

So just because some poor people can’t make more money that means I shouldn’t be able to get credit rewards for spending a ton of mine? No thanks I’ll make sure to lobby against those efforts
Comment from : @nothingtoseehere93

I would be pretty pissed off if poor people take away my rewards Just get a better job
Comment from : @nothingtoseehere93

My credit card bill is usually 10-15k a month and that’s not from rolling over 😊 #grateful
Comment from : @nothingtoseehere93

i have a amex card in the uk and it’s mind blowing seeing how insane the bonuses are in the US for context, all my (standard silver) card gets me is 05 cashback and i thought that was still a pretty sweet deal
Comment from : @fluffyfirehydrant

All my vacation flights in the past 15 years have been paid with my visa points
Comment from : @ColCurtis

I can only think of two ways around what credit card companies seem to be taking advantage of This unfortunately it's gonna have to be on the business NOT the consumers to enforce this brbr1 Business can stop accepting AMEX cards If you're are wealthy enough to be carrying around and AMEX card you probably already have two or 3 other cards Just say they don't accept AMEX and they'll pull out the VISA I am willing to bet even the whales who carry AMEX aren't thinking twice about this brbr2 Businesses can offer a discount for cash purchases If these interchange fees are only gonna get passed to the consumer than offer a cash incentive is a good way to cut out the middleman in this way It can be a small as 2 and while credit card companies and big business won't see that as much, every day consumers who are seeing their goods raise in prices bit by bit will appreciate it! Assuming they are willing to build the habit of carrying cash which many Americans don't, but sometimes a few business willing to break the ice is all it takes brbrNote: As I type this I only just now noticed in the comments afew people pointing out real world examples of this! So I am glad I am not too far off in my thinking!
Comment from : @AKen_Films

Whaaa…? Show me a card with 6 cash back, PLEASE I get a boner from just my 3 card 🤣
Comment from : @LOSTGAM3R

Not them bluring the credit card at 7:23 only for them to not blame in the next frame
Comment from : @user-gh7lm3dh7s

Costco only accepts VISA, so merchants can infact pick and choose
Comment from : @jayyzee5708

The Non-binary alliance of social justice warriors would like to have a word with you 😂💩
Comment from : @kaungsithusett9017

Great video I sub you because your honest and talking about what most people dont understand I seen on Reddit the number of people wjo paid the Chase SR card and wants to downgrade it because they did not understand it in the first placebrI have tried for year to explain this yo people But they just looking at me and say i am not smart
Comment from : @Rama_Guru

I get 1 cashback on all purchase, 2 on "online" purchases, and that's the best deal I've found Feels bad to be europoor
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Comment from : @Suraj_o2

I feel like this video could’ve been 5 minutes
Comment from : @OscarUnrated

I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as welllenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I'm working on my credit to get better with bCynext solution/b on google
Comment from : @Kastalom92

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Comment from : @Miszel-l5k

It's all about having a conscious responsible mindset to protect your home, credibility, My grandmother always told me put away and save at least $50-$100 in bCynext solution/b Every time I get paid As paying yourself as a bill put the money in an envelope that's emergency cash for household and myself take the rest of the pay and take care of your rent and your other expenses thank you for this video is very informative
Comment from : @MaxSheva

Another tip: If you have a credit card with an annual fee that you no longer want to use, don't cancel it Call the company and do a product change to a different card without a fee You won't get the sign up bonus, but the card history including the starting date will carry over Also use the help of bCynext solution/b
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Comment from : @VaselisaLungu

Another tip: If you have a credit card with an annual fee that you no longer want to use, don't cancel it Call the company and do a product change to a different card without a fee You won't get the sign up bonus, but the card history including the starting date will carry over Also use the help of bCynext solution/b
Comment from : @Андрей-Воробей-и6л

It's all about having a conscious responsible mindset to protect your home, credibility, My grandmother always told me put away and save at least $50-$100 in bCynext solution/b Every time I get paid As paying yourself as a bill put the money in an envelope that's emergency cash for household and myself take the rest of the pay and take care of your rent and your other expenses thank you for this video is very informative
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Comment from : @АлексЧапманс

0:52 "He or she" the word you're looking for is "they"
Comment from : @ImStevan

One of the reasons why interest is haram Indeed, God knows best
Comment from : @emperor8716

I've never had a credit card My credit score is 780 I'm under the age of 30 Submit your bills to the credit bureaus quarterly That's all you have to do I got a car and a mortgage with this cardless score
Comment from : @runed0s86

Wow!
Comment from : @boblolrus

Great episode as always 👍🏼
Comment from : @abuferasabdullah

This, this is the reason why banks were a very bad reason to create and furthermore a bad reason for them to be subsidized by the government intertwined by them
Comment from : @keywestalert6329

Maybe I'll just use cash or debit
Comment from : @simply_maple

I remember not long ago gas stations has dual prices, usually 10c lower to pay cash vs credit card I don't see it anymore Wonder what caused the change?
Comment from : @chrism3784

According to the comment section, we need a How Debit Card Works video because no one seems to agree how debit cards work
Comment from : @15_heidune72

RuPay is India's Largest Payment Competitor to Mastercard and VISA and Amex brWhy? Because it democratizes the Card Payments with Honour Based and User Favour Rules Compared to Other Competitor which are on the lookout there to Scam People off their Money
Comment from : @mrvk699

Same in switzerland you dont use credit card for your day to day life, you use a debit card or the app called twint or cash Most swiss people only have a credit card for traveling and vacation
Comment from : @ExpressAndExploreLife

I didn't understand much of this video
Comment from : @vijitkothari6502

God, thank you for deliverance from evilness and from wickedness We bind evil and wickedness In Jesus mighty name Amen 🙏 🤍Thank you God for blessings in the financial industry Thank you for helping us here Thank you for wisdom I pray for help for your creation In Jesus mighty name Amen 🙏 🤍
Comment from : @Rebecca-zr3lu

0:10 that is not true, as someone who didn’t have credit previously, most banks will not accept you just like that I tried so many different company’s and they all declined me I ended up having to get a secure card with the first bank I ever had a debit card with I now have a pretty good credit score Haven’t tried getting any other cards so far tho
Comment from : @3hxde

I fell for the credit trick once, thank God I had a friend to lend me money or I coud have spent years paying that
Comment from : @Jediahgames

Once again customer stupidity ruins everything Outraged at credit card fees is ridiculous if you have the option to use debit
Comment from : @pascalxus

Cash back should not be considered income They’re just returning a portion of the fee they’re already charging you!!!
Comment from : @pascalxus

screwing the irresponsible is a feature not a bug
Comment from : @bdeas

American Express focuses on charge cards, which literally have to be paid off at the end of each month meaning there’s virtually no interest payments, but American Express earns more than Chase or capital one despite having a 10th of the number of cards of either It’s those merchant fees
Comment from : @blackfalcon1324

I knew about interest and fees but had no idea the "rewards" component was such a large profit centre
Comment from : @DorianSA

When I wear a fake or knockoff of kislux , I feel proud knowing that I am not spending unnecessary money and I can look good while proudly supporting my family As for the owners of designer brands, they have it all There is no need to support them
Comment from : @bottorffambrosino

Don't they just make money off of the interest they charge you on the unpaid balance after a month? I feel like this isnt that hard to figure out
Comment from : @philipanderegg5973

Take from the customer, give to the company
Comment from : @tutacat

Amex and other cards waive there fees for military, giving access to credit to very immature junior enlisted soldiers with cards that although outstanding perks, extremely high penalties
Comment from : @Halo47143

It seems like the merchants now have the ability to charge different merchant fees based on the credit card My friend and I brought the same exact things and her Visa card was charged a few cents more than my Amex card I assumed that Amex would be charged more but nope 😮
Comment from : @Lillysammy126