this post was submitted on 25 Jul 2024
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A Boring Dystopia

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[–] return2ozma@lemmy.world 51 points 1 year ago (2 children)

Yes, it's a real thing. When I worked at a major bank the customers that would pay in full monthly on their cards were considered the "bad" customers. Those that paid only minimum and got hit with late fees were our "good" customers.

[–] Omgpwnies@lemmy.world 22 points 1 year ago (1 children)

From their perspective, they make nothing off of people who don't pay interest or fees. Thus, it only makes sense that the "best" customers are the ones carrying a balance, because they're the ones who generate profits.

[–] surewhynotlem@lemmy.world 18 points 1 year ago (1 children)

They still make a percentage of each transaction. But it sure isn't 18% interest

[–] nilloc@discuss.tchncs.de 4 points 1 year ago

18? Ha, it’s closer to 30% for lots of us. They only loads it to the teens for people who aren’t carrying balances.

[–] thrawn@lemmy.world 7 points 1 year ago

This part is true but is separate from credit scoring. Banks don’t like unprofitable credit card customers.

But it’s actually good for your credit, and they’ll keep approving you as long as you’re not churning. Churning can look like the lead up to bust out fraud too