06-18-2013 10:34 AM
I think it's all about perception of value. For a lot of people (I'd say most), they only pay the AF on a CC when they've made the mathematical calculation that they will come out ahead financially by paying the fee. With interest rates where they are thanks to the Fed, you probably aren't going to make any money on checking accounts, and for the same reason large banks actually lose money on smaller accounts, which they offset by charging fees. So in that case, you are paying a fee for a service, not to "make money," and some people are so anchored in free banking that they can't imagine having to pay for it.
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