17 Dec
2003
17 Dec
'03
11:17 p.m.
Michael Froomkin writes:
On Fri, 18 Aug 1995, Perry E. Metzger wrote:
The credit card market has thin margins? That's news to me.
Its true. The issuers often end up making most of their money for a
actually the NYT reported this week that banks make super-profits on credit cards. economists are not sure why the margins are about 3 times that of other lines of biz.
The overall business is very profitable. The margins on transactions are very thin. Perry