Now just gotta find people to charge!
Now just gotta find people to charge!
I'm a big fan of infographics. This one explains how credit card companies make money pretty clearly.
It amazes me how much money credit card companies make even when you think that they only make a thin slice from each transaction. I'm not even counting the interest they charge on revolving balances. Millions upon millions of transactions every day make those pennies add up pretty quickly.
It's a great way to start what will be a hectic week. We're starting our big fundraising push tomorrow and while Ike is on the road, I'll be pushing out some interesting improvements to some of our core products. Good news is that January is shaping out to be a blockbuster month for us (best month of our existence!). The right combination of the post holiday credit card rush (always happens - people max out their cards and need more) plus news that the Fed lowered interest rates a few weeks back have opened up the floodgates for mortgage apps. Let's hope the remaining 19 days of the month are just as good as the first 12.