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Originally Posted by osprey4  Close your account and change banks. That's exactly what we did when our bank started charging for debits. | I already did that a few years ago with another bank. I figure US Bank gets $4-5 a year from me. I use the account, on line bill pay (free, some banks charge a monthly fee for this service), and debit card daily. I don't carry cash or buy stamps to mail bills. Since I don't pay for the account in any way I figure it's a fair amount.Quote: |
Originally Posted by jkrohn They make substantially more off of interest payments on carried balances and late fees than the small percentage (usually 2-3% of purchase price) they will take as merchant fees. |
True, but when you have ten's of millions of transactions a month that small 2-3% adds up. I could only speculate on how many transactions Capitol One gets in any given month. But, I think it's safe to say they make a couple million dollars if not ten's of millions every month from just those fees.
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Well, if crime fighters fight crime and fire fighters fight fire, what do freedom fighters fight? They never mention that part to us, do they?
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Last edited by nomaxim : December 24th, 2008 at 01:55 PM.
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