Why Banks Love Credit Card User?

[Sahara]

Originally Posted by buaya

I meant that they are the same thing. It is just a bunch of numbers that identify stuffs like the card company it belongs to, banks that issues the card, card account, etc . Also long you have access to the fund (whether it is credit for cc or bank account for dc) and it is allowed for internet use (not those electronic cards), you should be use them online, even if those merchant ask for a cc no.

For a more in-depth explaination if you are interested, this will be a good staring point: Credit card number - Wikipedia, the free encyclopedia

I didn't know you culd use a DC online when they sak for CC. Are you talking from experience?
I see you're saying that DC and CC can be identified only by the issuing authority and as long as it pays, you can use a DC instead of a CC.
Makes sense.

[lindazhao333]

Originally Posted by markedzonne@yahoo.com

It is the easiest way to pay for something you want to buy..bank offered lots of freebies and raffles that may also encourage you to used credit card ...

Here many things attractive to apply for credit card, for example one day after work when I went down to the first stair of my work building, one bank was giving free gifts for whoever applies for the credit card at the moment, also there's some brochure that tells about the stores and shopping malls that give discount to the credit card user of the bank, sounds good, hehe...

[AzeAzeAze]

Originally Posted by markedzonne@yahoo.com

It is the easiest way to pay for something you want to buy..bank offered lots of freebies and raffles that may also encourage you to used credit card ...

firstly you have to know that ALL banks are thinking of their interests first then yours ! so the reason is taking high fees for CC users, but they have reasons for that like you said you can buy whatever easly with a cc ! and don't need a bank transfer which takes 5+ business days !

[XxLeSbiAnBiteSxX]

Yeah all that is so true.I think banks are in love with credit card users.Miss a payment its just more money in their pockets.Plus,more money on top of that,because your rates are going to go sky high.Need some money from them.Then your theres forever.Well at least untill you back it with all this interest.Everytime some fills out that application for a credit card another bank smiles.

[KellyONeil]

Yep... credit cards / banks love those fees. If you are going to use a credit card be very careful to pay it off quick and don't break any of the rules!

[alcher_27]

Very informative, yet very true. It is true that they can benefit especially for those who pay late. Of course that would mean an even greater interest. Well, it is really up to us on how well we handle our credits. So if you don't want to get higher and higher interests then you should pay on time.

[Ms_Margaret]

I agree to the points that you have mentioned about the credit cards likings for the bank, but to be clear credit cards have there own importance. I personally feel that if properly managed then credit cards is a good utility and a good source of quick credit.

[gold24k]

Banks love credit card users because they know very few users pays before the due date. And even if the user does not have plans spending that day, he is tempted to do so because of credit card, and bank loves that.

[Ms_Margaret]

As Obama continues down the same path as president Bush as it seems by helping the banks and allowing them to raise interest rates to 26 to 29 percent and they all or racing to do it seems like before the new law deadline. Every day people I talk to know who liked Obama at first or already becoming distraught and unhappy with him and they think that the seven dollars a week we will get is a slap in the face especially if one out of every 4 Americans have serious credit card debt and the banks squander all of this interest money as well as all this stimulus money.