Originally Posted by
tth6133
I've been told by people who should know the credit card business very well that Cit at best breaks even, due to low fees (no AF and very low negotiated interchange fee) and lower proportion of cardholders in the Costco portfolio carry balances.
The lower interchange fee would presumably only apply to Costco purchases? What percentage of Costco cardholders uses their card as their everyday card?
If they at best break even, I really wonder where they hire their staff deciding to make these deals? I guess the same could be asked about WF (Bilt card) and Goldman Sachs (Apple card).