Who Actually Pays For Credit Card Rewards?

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Title	:	Who Actually Pays For Credit Card Rewards?
Lasting	:	17.50
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Views	:	1,2 jt

Trust damontas Sabonis that man is consistent
Comment from : @shaqclaverie7688

Who Actually Pays For Credit Card Rewards? I think the rich people do like, when they have a steak dinner, giving you a little bit of breadcrumbs
Comment from : @winterheat

With all this sophistication and financial literacy It’s almost like training someone to dance with snakes in a snake pit when the far more obvious solution is “don’t get in the snake pit” aka turn off your credit card and just use cash or debit
Comment from : @noahbarlow2213

Consumers do through increased prices
Comment from : @kevoreilly6557

So, the merchants and the people that don't pay on time are paying the bills That sounds perfect to me
Comment from : @RickLowrance

Breaking news: the poor have bad money management skills lol
Comment from : @donwald3436

the indian guy ruined the vid
Comment from : @eesktv

Your bad consumer behavior is becoming other’s rewards😂
Comment from : @liangjingjing5898

This is not rocket science I have been using rewards cards since they were first rolled out Have made thousands in rewards over the decades and have never paid a penny in fees nor interest My card is ALWAYS paid in full, on time (usually early) every monthly cycle I put just about everything I can on my rewards cards I don't pay banksthey pay me As expected CNBC (Communist Nothing But Crap) is putting a leftist "equity" spin on how rewards cards disenfranchise the poor NO! A lack of education on how cards, interest rates, and spending discipline work is the issue
Comment from : @Mattshank-uo6jl

Not cross-subsidized?! This guy doesn’t seem to believe that money is fungible
Comment from : @BNFaraj-vy9zh

Bad spending habits along with low work ethics are the problem Look at most people that have won lotteries Mostly low income and most return to being poor afterwards
Comment from : @myrrhavm

You are in serious trouble if you need to borrow to feed yourself
Comment from : @godzillamothra5983

#debitcard
Comment from : @luzhougl

9:41 rewards are not being funded by credit card balance carriers Rewards make money independently on their own All that interest people pay are the only way we generate billions, not rewards
Comment from : @iamsteve121

people who pay the minimum payment every cyclle thanks guys
Comment from : @juanlee337

10:00 - Translationbr"We make enough money on interchange fees to profit and cover rewards programs violating poor people with high interest is just for fun"
Comment from : @dgw4049

Lol, on 14:37 someone is giving a 43 tip? It must be someone who's revolving, for sure
Comment from : @cyrilkarpenko691

Love them! Especially welcome bonuses
Comment from : @cyrilkarpenko691

Sadly if the people who carry balances did not exist, the responsible users would not be given the rewards they benefit from It’s a dog eat dog world for sure
Comment from : @alkaline3254

'There was no gun pointed at the poor person forcing them to use a reward card' What a not-my-problem kinda way of averting your gaze to the evil exploitation and being part of the problem
Comment from : @deemon710

What a stupid video just don’t spend money you don’t have people are always trying to take responsibility away from themselves and blame who? credit card companies 😂
Comment from : @thebrofessor8118

All you have to do is use the card and pay it off before the statement closes Having a budget is easy
Comment from : @InspireRise300

Weird angle they take here… if you don’t carry a balance you win🤷🏽‍♂️ it’s that simple
Comment from : @RyanFagan_RealEstate

Damn subprimes messing up everything
Comment from : @saulocpp

As a non credit card users i am helping to fund 'rewards' Unwillingly of course I pay cash but get charged the up charge at ALL stores, except gas stations, All stores pay fees for credit card use, and fees for the credit reader machines, that get passed on to EVERY consumer
Comment from : @froggiman1

I havent paid for a flight since 2019 Just do better
Comment from : @Poopinagroup

Yet the poor people never get offered the fee cards like Amex Platinum, Chase Reserve, Venture X, etc
Comment from : @angiepatterson6338

Equality? That’s liberal nonsense Deserve what you earn Equality is not the goal, personal growth and responsibility is! Your leftist professors cabbaged up your thinking Distorting incentives is a disaster
Comment from : @user-fs8tl7ni1w

The narrator’s voice sounds like Yara Shahidi
Comment from : @MichaelAshe

Almost like the Ramsey crew is spot on
Comment from : @S2K2121

Golden Rule: Don't spend money you don't have
Comment from : @Leanzazzy

Why does the CNBC voice over always have a cold?
Comment from : @hardcoretrance3435

Credit card rewards are funded by the carryover balance of people that have lower incomes and less financial literacy
Comment from : @jeffguimont3210

I have never spent more than 10 of my credit limit and never missed any due date for 4 years of my credit history
Comment from : @amanhooda3876

The rich spend less of their salary in their credit cards because their salary is much bigger than they spend
Comment from : @brunobatista6568

Americans need to learn how to be disciplined and not spend money they don’t have Credit card companies are just taking advantage of those types of people
Comment from : @horaciocastillo491

Way to over explain
Comment from : @chri6393

Who actually pays? All customers of the business that accept CCs Business pass through all business expenses Whether it be costs of goods sold, labor, taxes etc Business don't pay for these things, the consumer does If there were no business taxes, goods would cost less, if labor costs were lower, goods would be cheaper etc
Comment from : @sctexan5392

Thank you for the piece I will be switching to using a debit card only in support of lower income folks
Comment from : @Delvy787

Victim mentality: It's the banks fault that they allow me to borrow money that I don't have or plan on paying back
Comment from : @Youtube7Account7

Habibi come to India, here banks close the high rewarding credit card become people here are way too smart and don’t get addicted I got 21 credit cards, I haven’t given a single penny as fees and charges
Comment from : @gopal8201

I always pay my statement on time in full Regardless of the amount I will not buy something I cannot afford The cash back / Points, it’s a bonus
Comment from : @avikma77

This video is insane Personal accountability is a thing, so just stop it with this nonsense
Comment from : @MrDomitros

Since the stvpid autopay in most credit cards dont pay the entire balance just call customer service to set up the due date for the 2nd of every month
Comment from : @ExposeFlyersDotCom

Only if the schools and universities taught these skills, it would have been a lot better and the benefits would last a lifetime 😢
Comment from : @fanseychaeng

I earn roughly $30,000 per year with an 835 FICO score across all three bureaus, and I'm kind of hooked to having the best score possible I discovered that it is nearly impossible to achieve 850 and maintain it indefinitely because the score fluctuates all the time I've been at 850 a few times, but it just lasts a few days until it drops
Comment from : @gi4dtv230

It’s expensive to be poor
Comment from : @cindysalazar8774

The fact that wells fargo is making a huge loss with Bilt due to less balance being carried over by customers refutes the capital one guy's claims
Comment from : @abhimanyutyagi9676

Basically you are saying the poor people are stupid
Comment from : @Hiroshbd2518

Merchants are passing the credit transaction fees to the consumer
Comment from : @MrSgtrodlilem

Gonna be honest Wasn’t expecting to hear that there exist people who carry a balance and justify further spending for the points
Comment from : @legopadawanlearner8390

That's why Credit cards are not very popular in India and are seen as leakage of Money Indians know how to save money Noone of these capitalists can take money out of Indians except for the things which are essential Like telecom
Comment from : @TheIndianVCC

Short answer: YOU
Comment from : @dythailand

The culture of relying on Credit cards is killing customers worldwide So no wonder alot of people ended up in the streets because they had to paid back something they didn't have in the first place Spend less and save more
Comment from : @IseiNabuka

I used to be a banker, but it felt like a used car salesman because selling debt was my number one job brMost people really don’t understand credit cards Reward cards are great if you use them and never carry a balance, but there will never be a break even point if you do brMost people just need to get a budget, create an emergency fund, and keep cc debt at zero
Comment from : @paillette2010

Never used a credit card in my life Snr never will Only debit
Comment from : @ItalianDiveExplorer

Made the switch to this broker, it’s the best for beginners in my opinion
Comment from : @samadzali

The poor pay the debt fees and the that interest funds the riches credit card rewards brJust like our economy and corporate welfare system 😅
Comment from : @Qqxx22

Modern drug dealers😂
Comment from : @freezee7547

It’s heartbreaking to realize this CC scheme takes from the poor and gives to the rich 😢
Comment from : @snowjae9380

So it all boils down to playing your cards right? (pun intended :))
Comment from : @aryarajendra1088

It makes no sense, why would credit company give their card to individuals with good credit score? According to this video credit card companies are making loss on this segment Either the video is wrong or credit card companies are fools
Comment from : @cyclopes968

Come to the point,17 minutes of the video is trash
Comment from : @tomingeorge

Any business avenue that only flourishes if the consumer is not enducated is an unethical business avenue
Comment from : @Astaghfirullah-10

You make wonderful videos! 👏 I’ve got a question: 🤨 I have a set of words 🤷‍♂️ (behave today finger ski upon boy assault summer exhaust beauty stereo over) What should I do with this? 🤷‍♂️
Comment from : @EfrainVestal

Only wise people know that credit cards MUST be paid in full every single month Treat them like a debit cardbrbrThe only reasons why I got a CC are: br1 To improve my credit score to secure a better personal loan in case of emergencies - Its now 740br2 To get the rewards for my expenses (4 to 10 here in Dubai) br3 To be safe against scammers as CC transactions are easier to reverse than Debit card ones
Comment from : @bluzter

No surprise these pro-credit card videos are made by the companies and them alone
Comment from : @Danagis

why is there an annoying music in background
Comment from : @vipulgoyal4405

Is the reporter @maxamini
Comment from : @mechkida

I love the irony of the ad I was shown midway through this video by AmEx encouraging impulse spending on an impulsive vacation to the Caribbean
Comment from : @Rob-yv9og

Fick
Comment from : @fireflyinternet

YNAB, YNAB, YNAB!
Comment from : @TheNachoDaddy

I suspected credit rewards were predominatly from interchange fees from merchants, but to find out the rewards were predominantly from the late fee interests usually from lower income brackets would change my views on credit cards rewards
Comment from : @hkkim8718

People should watch financial reports and read articles like this and improve their (financial)knowledge
Comment from : @amitkamkhalia

It's the rich looting from the poor brThe reward cards are so much better in the USA In the UK, they are hardly worth having I just use a cashback Amex card and pay back in full every month
Comment from : @VNavale

So, even if you pay by cash, you have to pay Bank Interchange Fee which is supposed to be only for Credit Card Payers because merchants won't keep prices different for cash in most cases
Comment from : @MoHiT-hp4gv