Linux Credit Card Re-Launches 178
An anonymous reader writes "The all-new Linux Fund Visa Card launched on July 24th. The Linux Fund began in 1999, and lasted until Bank of America bought MBNA and canceled the program earlier this year. Before that time the fund had distributed $100,000 a year on average. US Bank has inked a new deal to resurrect the program with new features. Currently, the project is open to ideas for supporting well-loved and community-supported software that is underfunded. The current list of supported projects includes Debian, Wikipedia, FreeGeek, Freenode, and Blender."
Re:But how do they select projects? (Score:5, Informative)
Re:firefox mozilla (Score:4, Informative)
Re:Important Question (Score:5, Informative)
If you borrow $1000 from the bank, then the bank basically ends up $10,000 to spend.
Check out: http://video.google.com/videoplay?docid=-90504743
Re:Important Question (Score:2, Informative)
The interest and fees charged to less responsible/capable/cash-flow-endowed/whatever is intended to cover their risk and reduced availability of their own funds.
They make alot (most?) of their money on the per-transaction fees that are charged to the merchants.
Re:Important Question (Score:4, Informative)
For your $50K of charges, your credit card company will have been paid ~ $1000 in fees. The breakdown of that between all the companies involved (Bank Of America, Visa or Mastercard etc) I'm not so sure of. Unless you're constantly ringing up customer services it's fairly certain they will be making a nice profit from your custom.