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Credit card rates increasing

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    Originally posted by sofocused978 View Post
    the csr basically summed it up and in regards to closing the account that the company would be crazy to close all the customer account who chose to opt out or they would have no more customers.
    Just think of it this way.... two types of customers:
    1) Those that PIF each and every month and earn them nothing... in most cases they pay us "rewards" to do this
    2) Those that carry forward some balance and earn them some money. What happens when these people have paid all their debt?

    I'm not sure of the future of credit card companies as a whole. Except for corporations, businesses, etc.

    What's going to happen when people finally do pay off all their debt? Many will be adverse to getting into debt again. And where will the CC companies be then?


      Well they'll be getting bailout money from the government of course.