Quote:
Originally Posted by Robbie
I have a feeling that 99% of the Visa "Credit Cards" used on the web are really just bank debit cards. Not everybody out there wants or needs a "real" credit card. I never had one until early this year when I decided to get some AMEX cards and grabbed two business platinum ones. Up until then...I just used my debit card as a credit card online. I'll bet that's what we mostly see and that won't have any effect at all.
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Good point, although I doubt it's 99%. I'd be curious to know the real numbers though. Wonder if someone in the industry could provide us with estimates.
I still think it hurts as people with less credit available may be more weery of using their available cash. It's a lot easier to spend some of your money when you know you have a $10k cushion to fall back on. If that cushion gets cut in half, maybe you become a little more careful.