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Or maybe it’ll come out of the executive golf budget. I’ve never understood why people always argue that we have to allow bullshit fees and overcharging “or el
by CPLX 3y ago
Or maybe it’ll come out of the executive golf budget.
I’ve never understood why people always argue that we have to allow bullshit fees and overcharging “or else” when there’s clearly plenty of examples of existing waste and inefficiency in every business. Large monopolistic businesses especially so.
- refurb 3y agoHow are credit cards anywhere close to monopolistic?
- bdjsiqoocwk 3y agoHow many firms are there with significant market share? 2? 1?
- refurb 3y agoSetting interest rates and determining fees? The US has more than 4,500 banks. Most of them offer credit cards.
- bdjsiqoocwk 3y agoYes, none of them matter because for 95% of the use case the best are amex or capital one. By your logic you'd also argue that search engines aren't a monopoly because there's tens of them.
- refurb 3y agoI don’t think you understand how the credit card marketplace works. Your comment makes no sense. Visa and Mastercard are the dominant processors. Amex is far behind (but it is both a processor and a bank). But they don’t set card fees and interest rates. The bank that issues cards does. Capitalone is not a credit processor. It’s a bank. Along with Chase, B of A, Citi, US Bank, Wells Fargo, Barclays and hundreds of credit unions. None of the banks has more than a 20% market share. #1, Chase, has an 18% market share. The top 3 only make up 55% of the market. https://www.bankrate.com/finance/credit-cards/credit-card-market-share-statistics/#balance https://www.bankrate.com/finance/credit-cards/credit-card-ma... It’s highly fragmented and very competitive. It is in no way a monopoly.