That may be at least partially true in the form of annual dues. I wonder how long before we see a return to the annual fee for the privilege of having the card. Merchants will probably start paying out a higher percentage of their credit card sales to the card companies as well, maybe annual fees too. I know American Express now charges a monthly fee to anyone who accepts AMEX cards.
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Credit cards: the next big financial crisis?
- Thread starter Cratermaker
- Start date
Cratermaker
Charter Member
EVERYBODY pays for those that abuse credit cards. Think about it: people buy stuff beyond their means, driving up demand higher than it should be, driving up prices on everything. We all pay, whether we have a credit card or not.
Same thing happened with houses, except it was mortgages beyond their means. Did everyone really expect houses to go up 10% in value a year for infinity? (I think they did
)
Same thing happened with houses, except it was mortgages beyond their means. Did everyone really expect houses to go up 10% in value a year for infinity? (I think they did
)