Originally Posted by
RedSun
$20,000 CL x 5 = $100,000 spending. 2% of $100,000 = $2,000 cashback.
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That assumes the cash back is a "Loss". But they do get money from swipe fees. I don't know exactly how much, but I'm sure it is enough that they aren't losing the entire $2000. Just googling it I see that swipe fees average around 2%, but are higher for premium credit cards.