I want to start my own credit card company, and compete with Visa and Mastercard, how do I do it?

MY Credit Card Company will only charge 12% interest instead of Visa's 25% interest rate.

Also, on my credit card, your credit score will ONLY be affected if you don%26#039;t make the minimum payment. That%26#039;s because my company is fair to the customer and acknowledges that the higher interest rate already compensates the company for foregoing principal.

If credit companies want to demand return of principal balances, then they should lower their interest rates to the bond rates of 5.5%.

I will compete with the credit card companies on my 12% interest rate and force them to lower their rates or go out of business.

IT%26#039;S ABOUT TIME!

I want to start my own credit card company, and compete with Visa and Mastercard, how do I do it?

Unless you have a TREMENDOUS source of capital (in the billions of dollars), and the ability to convince people to take your plan, it won%26#039;t be doable. (Because you%26#039;re paying the merchants the money, and hoping the customer pays you back).

But if you%26#039;re paying 25% interest on a card, then you really need to shop around for a better rate. Not all Visa cards are that high.

I want to start my own credit card company, and compete with Visa and Mastercard, how do I do it?

Wow, you think visa only charges a 25% interest rate. Heck 12% is high.

I have a much lower rate on my visa.

I want to start my own credit card company, and compete with Visa and Mastercard, how do I do it?

MY Visa card charges UNDER 10%. Neither Visa or MasterCard actually issue credit cards are set the terms. They LICENSE their names and logos to financial institutions and provide support for PROCESSING transactions. Your statement about how your card will affect credit scored is FALSE. YOU don%26#039;t get to decide that. The formulas used to compute credit scores are designed and maintained for the credit bureaus by FICO. The fact you don%26#039;t KNOW everything I have said tells my YOU could not run a pizza shop, let alone a multi-BILLION dollar corporation.

I want to start my own credit card company, and compete with Visa and Mastercard, how do I do it?

I agree 100% with the post above. PLEASE learn what you are talking about. What you wrote sounds good for fiction, but not the real world.