Credit Card Industry Aims to Profit From Sterling Payers
Credit cards have long been a very good deal for people who pay their bills on time and in full. Even as card companies imposed punitive fees and penalties on those late with their payments, the best customers racked up cash-back rewards, frequent-flier miles and other perks in recent years. Full Story »
Posted by Kaizar Campwala
Bankers may need to lower their profit expectations commensurate with today's economic realities. Gouging those who consistently pay on time is a pretty dumb business practise. The banks already charge the vendors big fees for providing credit purchases, so they are not losing money on good paying customers who in effect pay credit fees up-front.. The bankers should be smart enough not to bite the hands that feed them.