On Aug 8, 2011, at 11:50 PM, Chuck Grimes wrote:
> Hey, let's give credit where credit is due. I made this argument, and Carrol,
> went along with the idea. And yes, big old time retail giants issued their
> own credit cards, like Sears. Safeway has their discount card just like Costco. Life on the installment plan as Celine called it...
If retailers issue their own credit cards, they're capturing profits that used to go to their bankers. And they've been doing that for a long time.
Doug