Almost Too Hard To Believe

Collections & Credit Risk magazine reported on a poll taken by Cardweb.com last year. 36,795 consumers were polled. 33.9% of the respondents said they carry over balances between $500 and $9,999 each month; 30.68% always pay off their monthly balances; 14.4% carry between $10,000 and $25,000; 8.4% carry over balances above $25,000 and 5.47% carry less than $500. 7.2% said they have no cards.

It makes me wish I owned a credit card company. The amount of interest paid was not reported but given the above numbers, do you believe it was staggering? I do.

Hoho :D

I also hope i can have that credit card comepany because just in 1 year after we start our business, we manag to earn big everyday and every month. But for your first step, promotion is important thing to get your client. If not, its hard to get more money from credit card company right?

well thoes are great interest rates but if you whant to start a credit card company you need a lot o money but right now i don`t think you`d have success because of the existing companies.....they control the market and would for sure destroy the new commers

I can believe these figures because nearly everyone I know is carrying credit card debt.  A lot of them are late on their payments, so they get socked with huge late fees, plus their interest rate goes even higher.  I probably wouldn't make money if I did own a credit card company because I'd never be able to assess all those fees and high rates!

People just can't control there usage of credit cards and end up maxing i out and have to pay this interest that should not be if you were to budget and not spend your expenses through credit cards. Sometime this should have been adressed because people will end up in debts if your interest blows up.

That's almost every bank is giving pre approved credit cards to its potential clients who have an accounts with them. Only God know how much money is made by the banks concerned solely on the interests earned from the outstanding amount and late payment in credit cards.  People say there is no business like show business but I would say there is no business like credit card business.