I typically disagree with banks on most things crypto related but I don't really have a problem with them making it more difficult to buy tokens on credit as long as a debit card is still an option. Someone like yourself might always pay your balance on time but that, unfortunately, is not the norm. It could potentially bankrupt them when people are unable to payback even the interest because they went all in something like Tron. In a centralized system, they will always cater to the lowest common denominator.
RE: My Credit Card Company has Declared War on Cryptos
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My Credit Card Company has Declared War on Cryptos
Yes unfortunately many do make bad decisions and go in way too heavy. When I was in my 20's I got in a lot of credit card debt and at one point was paying a few hundred dollars in interest alone per month. So I get that side of the argument.
But the credit card companies thrive on people who get in over their heads much like I did when I was younger. I guess cryptos could drive people to make even more hasty buying decisions and going all in on something as you said. But it does make me wonder if eventually we'll see restrictions come with debit cards and even bank accounts with fiat backing them.
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I don't think they want that battle....if a bank said, "no because I said so", people would start to realize they're really not in control of their money, which is largely why cryptocurrency exists in the first place. Personally, I would close my account with that bank immediately.
I can accept the terms & conditions if I'm borrowing their money - your house, your rules, and that's fine; but they're be poking the bear when they start telling people what they can and can't do with their own money.
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