Microblog Memes

5878 readers

3767 users here now

A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.

Created as an evolution of White People Twitter and other tweet-capture subreddits.

Rules:

Please put at least one word relevant to the post in the post title.
Be nice.
No advertising, brand promotion or guerilla marketing.
Posters are encouraged to link to the toot or tweet etc in the description of posts.

Related communities:

founded 1 year ago

MODERATORS

[email protected]

1710

The numbers will determine your fate (lemmy.world)

submitted 9 months ago by [email protected] to c/[email protected]

292 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 9 months ago* (last edited 9 months ago) (1 children)

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

[–] [email protected] 2 points 9 months ago (1 children)

True! Fed data corroborates this, and it appears the gap has only widened since.

graph of transaction fee margin plummeting and interest shares skyrocketing

(Image from 2022 CC profitability report)

So I was wrong. Thank you for the heads up. I’ll correct it shortly.

[–] [email protected] 2 points 9 months ago* (last edited 9 months 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.