eightzero
First: boo hoo hoo for GS.
Second: how does a credit card actually lose money for the issuer? I get that some people simply welch, and that the card issuer offers incentives in cash back, but AC is no different that any other card in this regard. GS gets the usual swipe fees, and I'm guessing AAPL gets a cut. The article cites a $350 cost for each customer, but wgi did they pay that to? AAPL? Or is this some sort of aggregate overhead cost cited to bring out the pity party for GS "losses?"
Third: boo hoo hoo for any credit card company.
