Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
I think like any new technology, we are charged a premium for it simply because they can get away with charging it. But once it becomes mainstream the competition become fierce and they can no longer get away with it. It looks like the credit card industry is no different. After credit cards became such a common payment form and new competitors came into play, they could no longer charge the annual fee. This competition is what also is responsible for rewards. Credit card competition became so fierce they had to literally pay us to use their cards. But hey, I'm not complaining, this is all good for us - the consumers.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
Current Cards: American Express:
Blue Cash, Simply Cash Bank of America:
WorldPoints Platinum Plus Chase:
Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi:
Thank You Premier, Dividend Platinum Select Discover:
MorePrimary Everyday Card: American Express Blue CashPrimary Travel Card: Chase Sapphire Preferred