EconTalk · Russ Roberts

Inside the Mysterious World of Credit Cards (with Patrick McKenzie)

May 19, 2025·1 hr 15 min·5 clips

Discover the four hidden ways credit cards actually make money beyond just interest charges.

Host Russ Roberts interviews Patrick McKenzie on the economics of credit cards, covering how they make money through interchange fees and interest, the complexities of fraud and chargebacks, and debates over rewards programs and financial inclusion. The discussion demystifies the hidden mechanisms behind everyday transactions.

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