Eli5: How does credi cards cashback work?

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How can we get money back from what we buy ? (1-10%) can’t we abuse it if someone we know has a shop ?

In: Economics

5 Answers

Anonymous 0 Comments

Your shop owner friend who would have a merchant account probably pays more in transaction fees than you get in cash back, so it would cost him money to charge a purchase and give you the revenue.

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