Quote:
Originally posted by NoSoup
I would imagine that it would have something to do with the "loss" if someone didn't repay them. A store buys their wares at a much discounted price, and if someone who had bought, say, $1000 worth of clothes defaulted, they probably would only be out $200. However, Visa is losing cash. If someone who owed them $1000 defaulted, the would be out the entire amount.
|
Makes complete sense to me NS. I've got to thank you for taking time to answer everyone's question, a very noble offer. I've still got a remaining question, though. When processing a credit card application, would the issuing bank look differently upon a GapCard than a Visa? Put another way, is the type of card actually listed on the credit report?
As for your statement about the 500% markup- It truly is sad how much some clothes cost these days.