The credit card industry in the U.S. raked in 163 billion dollars in 2016 (R.K. Hammer)
Chapter 6 -HOW GREAT THE CREDIT CARD SCAM IS
LOOK AT THE MONEY PROFITED PER SECOND!
$5,168 per second! (in 2016)
• Interest income: $63.4 billion dollars - (the rate charged by the bank to use their credit)
• Interchange income: $42.4 billion dollars - (the transactional fee the merchant pays)
• Cash advance fees: $26.6 billion dollars - (the charge for using the credit card to obtain cash)
• Annual fees: $12 billion dollars - (cost the credit card company charges to keep the account open)
• Penalty fees: $12 billion dollars - (between $28 up to $39 dollars as an average, per hit)
• Enhancement income: $6.3 billion dollars - (cross-portfolio products like insurance)
How much bigger
will this financial monster grow?
Are we going to allow it to continue to grow even bigger? Or can we starve it to death?
It will take massive solidarity to be able to starve this monster to death! It is possible.
I have already started to do so. A whole company of thousands of thousands, millions, are doing it too.
I invite you to join us!
Many studies have shown that 7 out of 10 Americans have at least one credit card.
The American Bankers Association (ABA) communicated in November of 2019 that there were 374 million
open credit card accounts in the United States in the middle of the summer of 2019.
That number had increased by 2.5% in comparison to the previous year.
Are you going to allow the scam to go on or will you join our armies as we denounce it?