They also hedge and buy insurance to cover potential defaults and then they write off the bad loan they got stuck with to help offset taxes… So it’s kinda good in a way and they want some but it makes business sense to find the right balance to keep regulators happy and make maximum profit.
Uh, try that and see what happens
They have the upper hand , they will take your assets and sell your debt to collections and the courts will side.
The terms are such that you agree to pay.
What would be better is for everyone to always pay their credit card on time and reap the benefit from cashback rewards on purchases.