How is that possible given that my credit card gives 1% cash back? | Hacker News

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		aianus on Jan 20, 2015 \| parent \| context \| favorite \| on: Coinbase Raises $75M from DFJ Growth, USAA, NYSE, ... How is that possible given that my credit card gives 1% cash back?

zminjie on Jan 20, 2015 | [–]

they bank on you not paying the full balance every month so the interest alone will more than pay for your cash back.

etchalon on Jan 20, 2015 | | [–]

That and the fees they collect from the merchants.

anon1385 on Jan 20, 2015 | [–]

A lot of people don't pay off their cards on time?

eric_h on Jan 20, 2015 | [–]

The average american has 15k in credit card debt[1]

1) http://money.cnn.com/magazines/moneymag/money101/lesson9/

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