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
This isn't a problem - truly frugal consumers will likely ditch credit cards in favor of credit union-run debit cards, and the annual fees imposed will end up making the credit card business a slightly less regressive income-redistribution device.