Why do so many stores have their own credit cards? What’s the benefit for the retailer?
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The store usually isn’t the credit card issuer, but a bank (for example Synchrony for many of them). The store gets a kickback for every customer that signs up, while the company doesn’t actually have to supply any product. So for the retailer it’s like a bonus on top of the regular sale. Meanwhile, the card often has a store-specific benefit that incentivizes the customer to return. The issuer makes money in the usual way, by charging interest on purchases.
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