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What is driving the increases in fees from the credit card companies? Greed? Using the fees to fund ever more enticing rewards programs to attract customers?
by Arrath 3y ago
What is driving the increases in fees from the credit card companies?
Greed? Using the fees to fund ever more enticing rewards programs to attract customers?
- jondwillis 3y agoProbably a combination of Greed, cost disease, and risk-free rates rising?
- mrguyorama 3y agoWhat are you going to do, NOT accept card payments? The sky high rates in the US is because fuck you, deal with it. It's pretty explicitly wealth transfer from poor people to credit card companies, with a small kickback to well off credit card users to make it popular and hard to regulate.
- tracker1 3y agoYou don't have to be well off to not buy more than you can afford. That said, I'd be perfectly fine if CCs disappeared altogether, and limited people to only debit accounts.
- Arrath 3y agoI'd be loathe to give up the extra bits of protection that a CC gives me against fraudulent charges over a straight debit account, myself.
- silisili 3y agoSame. Even with no rewards whatsoever, I'd use a CC over anything else. I have to pay extra each month even, to pay my electric bill that way.
- mensetmanusman 3y agoUsury was forbidden by all major religions and was banned in most states until the US Supreme Court legalized it and everyone incorporated in deleware. https://www.nasdaq.com/articles/how-supreme-court-ruling-killed-usury-laws-credit-card-rates-2010-11-12 https://www.nasdaq.com/articles/how-supreme-court-ruling-kil...