in the most recent cycle interrelates with other incomes and benefits to the cardholder and bank, such as transaction cost, transaction fees to the bank, marketing costs for gaining each new loan (which is like a sale for the bank) and marketing costs for overall cardholder perception, which can increase market share. Therefore, the rate charged on the most recent cycle is largely a matter of marketing preference based upon cardholder perceptions, rather than a matter of maximizing the rate. Bank fee arbitrage and its limits In general, differences between methods represent a degree of precision over charging the expected interest rate. Precision is important because any detectable difference from the expected rate can theoretically be taken advantage of (through arbitrage) by cardholders (who have control over when to charge and when to pay), to the possible loss of profitability of the bank. However, in effect, the differences between methods are trivial except in terms of cardholder perceptions and marketing, because of transaction costs, transaction income, cash advance fees, and credit limits. While cardholders can certainly affect their overall costs by managing their daily balances (for example, by buying or paying early or late in the month depending upon the calculation method), their opportunities for scaling this arbitrage to make large amounts of money are very limited. For example, in order to charge the maximum on the card, to take maximum advantage of any aribtragable difference in calculation methods, cardholders must actually buy something of that value at the right time, and doing so only to take advantage of a small mathematical discrepancy from the expected rate could be very inconvenient. That adds a cost to each transaction which obscures any benefit that can be gained. Credit limits limit how much can be charged, and thus how much advantage can be taken (trivial amounts), and cash advance fees are charged by banks partially to limit the amount of free movement that can be accomplished. (With no fee cardholders could create any daily balances advantageous to them through a series of cash advances and payments). Cash rate Most banks charge a separate, higher interest rate, and a cash advance fee (ranging from 1 to 5% of the amount of cash taken) on cash or cash-like transactions (called "quasi-cash" by many banks). These transactions are usually the ones for which the bank receives no transaction fee from the payee, such as cash