I mean, the price of the product is the same, I’m taking a loan for the duration of the credit but paying no interest?
What’s the catch?
I can keep my money making a bit of interest instead of giving it right away and without increasing the price of what I was already planning to buy. When or why wouldn’t I choose 0% credits?
Partially the reason. I’ve seen between $0.10 and $0.30 per gallon more for credit cards even though merchants only charge <5%. At $4.00/gal, 5% is only $0.02 that they’re paying the credit card companies so they’re making extra profit off that too.
5% of $4.00 is $0.20. Think of it as 5 cents per dollar.
Woops I obviously shouldn’t have been doing math before having my coffee.