[Toddsterpatriot]

not only that, they get to write off their bad debt.

Banks get to write off losses? You're kidding me!

[TexasGator]

“Banks get to write off losses? You’re kidding me!”

Sort of. They still have to eat the losses.

The credit card balance is counted as an asset. If, after 180 days, it is considered uncollectible it is removed as an asset.