First credit card? Approved/Denied?

Answer this question

  • First credit card? Approved/Denied?


Answer #1 | 19/12 2013 17:23
The risk isn't worth the potential payoff. Remember, credit card debt is generally unsecured.
Answer #2 | 19/12 2013 20:06
No. They only make money off you if you pay eventually. If you pay late, then they make more money. But if you never pay, then they lose money.
Answer #3 | 20/12 2013 03:07
No, I don't believe that's what credit cards do. The cost of chasing someone down - many, many someones - is astronomical, and not good business. Better business practice is to give credit cards to people who are more likely to repay and then they don't have to pay people to chase people who don't pay the bills. And they don't necessarily make more money off people who don't pay. That's why people get denied.

Possible answer

Login to your account
Create new account