On Wed, Jan 28, 2026 at 07:37:46PM -0500, Don Tai via Talk wrote:
I can see why banks, Walmart, CanTire, large retailers would not want to do virtual credit cards. They make a lot more money on their credit card than their actual products. When people are late to pay the interest rates are 20% and above. I've not heard of virtual credit cards, but know from a financial perspective banks and fin companies would be discouraged from doing them.
They make way more money when you buy a lot, then pay the minimum balance, along with their interest rate. This is why credit cards are available, often, for no charge, and you get card benefits on top. That expense comes from others who pay the card's high interest rates.
I just had to go check if there was info on how many people carry a balance on their credit cards. That was a lot higher than I expected, at somewhere in the 40 to 50% range in both Canada and the US. Eek. Well then I can see how credit cards make big money. I guess I qualify as a bad customer to them in that case. -- Len Sorensen