credit cards

[cazzz1975]

With banks cancelling cards of people who are not making them a profit (by being in debt) has it made any remaining card holders aware that the banks are purely making money out of them?

[factor-fiction]

'Twas ever thus. And whilst we don't like to see the banks making a profit out of us, we'd also be worried if our banks got into financial difficulty.

[cazzz1975]

I think that is true, but a lot of them are making a massive profit, not just a modest one!!

[dasherman]

It's more a case of the banks ditching those people who cost them money,i.e bad debtors.

I have always paid my card off every month and so have never paid any interest and they haven't cancelled my card.

[dzug]

Are they really making 'massive profits' in relation to their size?

And you may not have noticed but recent profits have been down.

[Hermia]

I always knew that banks were there to make money out of me. They are not a charity!

I pay my card off in full every month and have always been told that banks don't like people like me 'cause they don't make much money out of us. Maybe they will start to appreciate me now?!

[BenDToy]

Profit is not a dirty word. In order to survive, banks (as all businesses) need to make a profit to allow them to invest in their future, and to pay tax and dividends.
If this comes as a surprise to a credit card holder, then perhaps the banks are right to cancel their cards!