Originally Posted by
mikeef
Of course, if nobody carried balances (most recent stats I've seen are that about 50% do), rewards programs would suffer big-time.
This figure has not changed for decades. Goes to tell you 1/2 of the cardholders are either should not use cards (spend beyond their means) or are in the flog of how credit card works. I even read in Capital One 100K miles thread that a guy used his C1 card to take Cash Advance from ATM aboard so he can avoid 3% forex fee - then he was surprised to see each and every ATM withdrawal has a $10 usage fee (cash advance fee before the financial charge even kicks in!) Makes you wonder how he can use the correct term of "Cash Advance", yet expects this would be no fee, no interest?!
Originally Posted by
mikeef
If people are going to be stupid, I'm happy to be the beneficiary.
Mike
Hear hear.
