Mark Moss

They don't bear credit risk.

I would exclude the banks because obviously they're going to have profits from other areas.

But I think Amex, I think Capital One.

Right, that's why I said Capital One.

Maybe Discover that you called it earlier.

Well, we're waiting for that to come up.

I mean, just price is 101.

Look at Capital One right there.

Negative 8.8.

That's not a minus.

That's an approximate.

But again, Discover off.

Okay, how do you process this?

If you go up and read Discover, if you scroll up just a tad right there, you'll see Discover also has additional income that's sort of like a Visa MasterCard network.

So really the best proxies for this, I think, are American Express and Capital One because they're like the credit issuers.

They don't benefit from people using their network.

Well, what they'll do is they're going to call you and they're going to triple your credit line because you're going to pay it back, and then everyone else are going to cut theirs.

How do you make money off me, though?

Well, because you'll use your credit card and you'll pay it back.

Transaction fees.