InsanePeopleFacebook

2654 readers

121 users here now

Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world

founded 1 year ago

MODERATORS

Lifecoach5000

BonesOfTheMoon

213

Sovcit is tanking with Amex, which can only end well. (lemmy.world)

submitted 9 months ago by BonesOfTheMoon to c/insanepeoplefacebook

41 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] BrotherL0v3 13 points 9 months ago (1 children)

[–] jj4211 4 points 9 months ago (1 children)

It's not so much about white knighting for the multibillion dollar company. It's recognizing that any cash the sovcit manages to make multibillion dollar company lose will just have that company pull it out of the pockets of the people that do pay their bills. So trying to claim that sovcit has any vaguely moral high ground in sticking it to those credit card companies is ridiculous.

[–] BrotherL0v3 0 points 9 months ago

It's recognizing that any cash the sovcit manages to make multibillion dollar company lose will just have that company pull it out of the pockets of the people that do pay their bills.

This relies on the assumption that credit card companies are not already extracting as much value as they can from those bill payers. If they thought they could get away with raising rates on people without turning enough away to make it a net loss, it seems to me that they would have already.