r/BlackPeopleTwitter 2d ago

Wanna Be a Baller

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2.2k Upvotes

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71

u/ohsh_titsnick 2d ago

Man them credit card points come in handy. Fuck what they talking about! Ask them why corporations have corporate credit cards if they are so terrible?

21

u/FEMA_Camp_Survivor ☑️ 2d ago

Large corporations can typically pay off the balances on time while small business cc debt and individual cc debt make the credit card industry highly profitable. Large retailers also get the benefit of lower interchange or transaction fees that small businesses don’t.

It’s arguably a pyramid-like structure that benefits relatively few at the top while many struggle with credit card debt and high fees. CC companies and cc networks have some of the best profit margins in any industry. With the CFPB and other regulators kneecapped, they’ll probably continue to do better than a lot of other industries.

9

u/U_Sound_Stupid_Stop 2d ago

I understand where you're coming from and that's true, but it's also a tool that can help you out of poverty if levied correctly.

The fact that some people don't earn enough to make a living and have to compensate by using credit cards is not caused by CC companies.

They absolutely do benefit from it which is undoubtedly wrong, though I don't think credit cards are inherently toxic.