Quote:
Originally Posted by xoxoxoBruce
In which case they can take their card and shove it... then the greedy fuckers will get nothing.
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Cancelling credit cards - especially long term cards - is a negative mark on your credit score. I don't know how much, but it that is a downside.
American banks have a long history of not innovating. Therefore, to make up losses, they use service charges, annual fees, and long forms for 'change of terms' so that some hidden $100 annual fee is not obvious.
Remember, in the banking industry, profits - not customer service or service to the economy - is always the primary objective. Innovation is considered an expense. Therefore ATM's were elsewhere in the world before they appeared in America. Networking - to expedite transactions and automation - was suddenly a 'revelations' in the 1990s. Smart cards - billions have been sold - that are found throughout the world still do not exist in America.
When a company or industry so fears innovation, then screwing the customers or economy is inevitable.
Why do banks so routinely fear to innovate? Innovation is nothing more than increased costs on the spread sheets. Hidden charges and other costs are necessary to generate those missing profits.