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How do 'register your credit card with us, and earn cashback' schemes work, or make money themselves? (kbin.social)

submitted 1 year ago by kaladininskyrim@kbin.social to c/asklemmy@lemmy.ml

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For example, with T-mobile, I can register my credit card, and if I use that credit card at any of the participating outlets, I can earn cashback. Similarly, if I register a non-Bilt credit card with Bilt, then I can earn Bilt points on 'eligible spend'. How are they able to access my credit card transactions? and are they getting access to only the participating outlets, or all of my transactions? and what do they gain by doing these schemes other than increasing their brand value?

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[–] flipht@kbin.social 17 points 1 year ago

They sell your transaction history to advertisers.