- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
Interesting idea. It sounds to me like you are thinking you can capture the spread between the 1.7 and 2%, i.e., 0.3%, which would be $150 on $50,000. I don't know the answer to your question, but think there has to be another fee in there besides the $12/month. The merchant (you in this case) would be paying the bank 1.7%, and the bank would be paying the consumer (you again) 2%. Sounds like a losing proposition for the bank, and I'm sure some lawyer has already spotted it.
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