Nicola Valley Hospital in Merritt to temporarily close emergency department
Monday (Kamloops)
-
The emergency department at Nicola Valley Hospital in Merritt will be
closed for a 25 hour period starting Monday. In a statement, Interior
Health said eme...
How Credit Cards Make Money
But just how is all this money made?
You maybe surprised to find out that a credit card company makes money in four ways. (Make sure to check the diagram below for a complete illustration)
Fee's - Annual fees, late fees, over limit fees. You get the idea. Make a mistake you pay a fee.
Interest on the loan - The power of compounding interest is used against you. If you pay it off great, but most of us do not and it costs you. (Check out this credit card calculator from the Financial Agency of Canada to see the real interest costs of a credit card balance.)
Card Issuer Fees to the Retailer - Every time you use your credit card the the retailer pays a percentage to the credit card company.
Credit Card Company Sells your Name - That's right your name is sold to marketing companies to sell you more stuff (hopefully using a credit card).
Something to think about when you reach it your wallet!
Financial Blog of Unknown | Life Insurance Debt Investing Mutual Funds |
Leave Your Response to "How Credit Cards Make Money"
Your comments are appreciated. Please Do Not include links in your comments but instead select the profile setting as "Name/Url". Have fun and thanks for your comments!