Originally Posted by
DjRocket
Well, the concern here is not Rakuten's 1% cashback part, which is what I believe your site reference talks about. The concern here is Synch bank paying out 3%, THAT part. I hope you're right and the Synch bank knows what's going on too with their cashback affiliate.
But is Synchrony paying the 3%? Or do they have a deal with Rakuten where Rakuten is paying some part of it? I’m sure it’s not the former. It’s no different than any of Synchrony’s other co-branded CCs. Synchrony is getting their cut from the transaction fees, Rakuten is getting their cut from the referral fees, the stores make a profit on the sales.