Mohamed Soubra

Credit Card Industry Critic Highly Opinionated, Clueless

Creditcard companies are like brokers they only get a commission on every single transaction and they make an extra forex income from the usage of Crditcard in non USD currency except for the countries that they have a special agreement with the issuers for local settlement,but will the Banks keep on issuing or renewing their client's Creditcard in this creatical economic situation, the answer is no,and the volume of transactions will go down and it is started to be lower than expected this refferring to Visa and Mastercard financial statement.