S3 E3: The $1B Bootstrapped Business / A $250k Loophole / Where Your Credit Card Fees Go
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American Airlines Credit Card Processing Fee
The market cap of American Airlines's loyalty program is $26 billion. It's almost five times bigger than the actual business that the bank is built on. The credit card processing fee that you that a merchant pays 2.9% or whatever it is, that is like just straight cake for these credit card companies.
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