Now, don't think I'm happy with what has been going on. But, I have to understand why it is happening and what the alternatives would be. And life is too short for that. As for banks . Credit card companies are performing a service for both buyers and sellers.
Banks are a different story.
Their allegiance, it seems, is to their stockholders and not the people who patronize the bank. Banking would be, they would tell you, a great business if we didn't have to deal with customers. Why, they will tell you as they wipe their eyes, that it costs them a lot of money to keep a teller at the window waiting for you to come in . . . Oh, yes, it's a sad, sad day for banks because you and I cause them lots of grief and money. It used to be that banks needed our dollars in our accounts in order to have funds to lend to borrowers so the bank could earn more interest on the loan that they paid us in interest . . .