re: Experian: Millennials have horrible credit

quote:

---

I pay for everything with credit card, you are dumb not to, they give you free money for using the card.

---

Not really...


If I pay you 100 cash for a good, you get 100

If I pay you 100 credit for a good, you get say 95 to 98 dollars and the credit card company gets the rest. Nicking a few dollars off you upfront may not seem like much but it adds up. Allowing a few companies (Visa MasterCard AMEX) such a near monopoly is never good for the consumer.

In the 1980's, AMEX was making 200+ million a year just on the interest on the float between when they got the cash and when they had to give it up.

When PayPal was formed their business model allowed massive income just on their float.