5 Credit card companies are now blocking crypto coin purchases!
File your complaints now!
What are they going to do next, block us from buying donuts because of our health?
Card companies should not have any say in "what" we purchase with our credit.
JPMorgan Chase, Bank of America & Citi bar people from buying bitcoin with a credit card.
"At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved," a J.P. Morgan Chase spokesperson said in a statement to CNBC.
A Bank of America spokesperson also said in an email that the bank has decided to decline credit card purchases of cryptocurrencies.
Citigroup said in a statement that "We have made the decision to no longer permit credit card purchases of cryptocurrency. We will continue to review our policy as this market evolves."
Sourced from CNBC
https://www.cnbc.com/2018/02/02/jpmorgan-chase-bank-of-america-bar-bitcoin-buys-with-a-credit-card.html
I think that this is a statement that speaks measures in support of crypto.
My take on this is that this new thing is a direct and eminent threat to the status quo. This measure to impose control further contributes to reasons as to why people who know prefer decentralized digital currency to the norm.
It out performs fiat. Plain and simple.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm no legal expert, but this seems like a restriction of free trade. Crypto is legal in the US. I'm sure the credit card companies have lawyers suited up and ready to go.. but maybe there are some smart lawyers in our community that could fire up a class action lawsuit against the credit card companies? Tell me where to sign to jump on board.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think they are just seeing crypto as a real threat to their business model. They are using the volatility of the market as an excuse to try and discredit it.
How dare people purchase things without the credit card companies getting their predatory 20% interest rates on it!
We need more alternative options, not less to force them into more competitive pricing and lower interest rates.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You go friend! Right on!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Coinbase already has a daily limit on credit card charges. The banks are frightened! Funny, world regulators are waking up! Losing control of the huddled masses!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
They are afraid that they may lose control over us.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Control and money. They are afraid they will lose their semi-monopoly on payments and actually have competition to drive interest rates down!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Just like people who do not want transparency in our US government.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Crypto will makes decrease credit card use in the future. they just doesn't want to this happens early.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit