• @d00ery
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    1 year ago

    Credit card companies posted $176 billion in income in 2020, down from $178 billion in 2018. Interest fees accounted for $76 billion and interchange [merchant] fees accounted for $51 billion in 2020.

    https://www.fool.com/the-ascent/research/credit-card-company-earnings/

    This source suggests interest, fees and charges account for well over 50% of income

      • @d00ery
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        1 year ago

        Interesting to see that this has only changed, fairly (last 3 - 6 years), recently and the profit from merchant vs interest fees has pretty much flipped!

        I didn’t know about the Fed data, so that to me feels like a good solid source as well.