Bad debts incurred by credit card companies generally run close to 10%. The companies must make up for this, so they attempt to earn fees where they can. If they cannot get repaid by the deadbeats, they will receive it from the many customers who pay their bills on time.
If the business is so great, why aren’t so many more banks running to get into it? Something politicians in Washington who pick on credit card companies, or the media never address. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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