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The High Cost of Providing Credit Card Services
by Peter Stabler on Apr 27, 2009
This is going to sound extremely one-sided, but have you ever stopped to consider all of the services that are provided by credit card issuers? At the risk of being shouted out of the room about this, consider these points.
Credit card companies are kicking consumers in the teeth right now. It is true that credit card holders are the victims and have had to bear the brunt of the credit card industry that is trying to reign in the massive amounts of credit card debt that threaten their existence. But that does not give them license to impose unrealistic and unfair practices which cause financial angst and problems among their customers.
The industry could benefit from tighter regulations to prevent unfair practices and manipulation of card holders. There is already some legislation on the books but more is coming. The current attitude is that credit card companies have too much leeway in charging what they want which places and undue burden on card holders....Read More >>
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