A lot of their fees are redistributed from the poor who struggle with credit car... | Hacker News

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		kristofferR 11 months ago \| parent \| context \| favorite \| on: DOJ accuses Visa of monopoly that affects price of... A lot of their fees are redistributed from the poor who struggle with credit card debt to the well off who play the credit card points/rewards game.

KingMachiavelli 11 months ago [–]

The actual lender for a CC is not Visa, it's the associated bank that's backing the CC. So the redistribution of wealth is occurring on the banks books not Visa's.

kristofferR 11 months ago | [–]

You may be right, but where does all their revenue go then? They can offer their service profitably for 0.1% fees, their fees are often 2-3%.

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