If I were to run a long-stay car park and then hire out the customers' cars for money I would be accused of fraud, or worse.
For a bank, that is a long-stay money park, that is quite normal! In fact, they can lend out your money several times over and charge interest each time.
He’s 0-3 on Assassination attempts. Now he’s just giving them the finger and taking another lap.
A Hard Cap on Annual Credit Card interest is about the closest thing we’ve seen in modern day to a Ban on Usury. And undoubtedly is all but going to guarantee they try to take another shot at him.
JUST AN FYI...by saying this NOW, it is "ALMOST" Guaranteed they MIGHT try again...
Ask self "WHY?"...I think he wants the banks to sweat a wee-bit before this goes into affect...The reason: Usury RATES should be control by the STATE NOT THE FEDERAL GOVERNMENT...which is what he is proposing, in a round about way. All banks/credit unions follows the FED rate VERY CLOSELY...
Following two examples shows what PDJT is trying to do:
A 24% interest rate on a 5-year loan can result in a total payment of approximately $34,500 for a $20,000 vehicle, compared to $22,600 at a 5% interest rate.
Usurious interest rates can disproportionately harm individuals who are least able to pay, leading to financial devastation. (banks/credit unions become loan sharks)
Ban imaginary money period! Credit cards are digital transaction for money that does not exist! Let's go back to the Gold Standard, where value of legal tender is predicated by tangible assets! Electronic credit is legalized theft!
AND Sir, I do hope "Ric0Suav3" is a male name...😂🧨🧨🧨 is exactly what he is proposing...tieing the USURY rate to the Gold Standard Means the banks will NOT be able to charge the insane fees AND MAKE MONEY OFF THE BACKS OF AMERICANS...
Banks are "supposed" to put their monies in interest bearing accounts so they the banks can draw on that money "earned" AND NOT OFF THE BACKS OF AMERICANS!!!!!
NOTE: Banks are using the FED for this NONSENSE so by getting rid of the FED and using the Treasury, this NONSENSE will bring everything back in-line!!!!
Credit card debt is killing me right now I've been paying accounts for 5 plus years and the balances are all still near max due to high interest charges each month slowly squeezing the flexibility of my wallet in other areas of my life and finances to where I'm going broke working my ass off my whole life it sucks
I hope that you’re just not making minimum payments AND still charging with the card. Every year I took two days out of my Algebra II classes and taught how credit card debt can get out of control and how making only minimum payments compound the problem.
I'm realizing my best bet is to probably snowball the 3 small balances ($500 or under each) then focus on the 3 bigger fish (4k, 2.5k, 1.3k)
Yeah the minimums on the bigger three make it difficult to make wiggle room just splitting my paycheck every time on them, my car/insurance, and loan.
I get probably $200 or more just from added interest charge on purchases after I make the big minimum payments that I'm like shucks i gave them all my money just for them to interest add half of it back on my balance regardless if i use the cards or not. They're made enough interest off my to prolly pay my debt off twice at this point. Wish I was as knowledgeable now as I was a youngin'. I'm stumped. Job changes over the last decade haven't helped stabilize it either.
We had $32k in credit card debt. I paid more than minimum every month. It just wasn't going down (our fault, we kept using them). Unfortunately, it took an inheritance to pay it off, but without the inheritance we would have figured out another way. We did have quite a bit of equity in our house so we could have gone that route but neither of us wanted to wipe out our equity. If I was in that situation today, with rates being higher, things costing more - we'd be in big trouble. I pray things work out for you.
The snowball method is a wise choice. I was trying to pay the amount of monthly interest on top of the monthly payment so that the balance would actually go down but with that much credit card debt (and adding more in every month), it was one step forward, two steps back.
Yeah I called my major creditors and told them to eff off. I might just ignore them for a month or two to fry the small fish and deal with whatever fees I incur from them by doing that in the future when I can get around to it.
Solutions sound easy when I'm not fully explaining other Cost of Living expenses outside of credit I also pay.
It's just more infuriating knowing that me and others are wastefully paying hard earn money to corps. Like what do the Bank of America's of the world actually do with all the generated profits? I don't even want to follow the money cause it probably funds shit we don't support and makes CEO's and other top dogs richer and in the 1% elite.
Ban usury
Agreed!
If I were to run a long-stay car park and then hire out the customers' cars for money I would be accused of fraud, or worse.
For a bank, that is a long-stay money park, that is quite normal! In fact, they can lend out your money several times over and charge interest each time.
That has to be a racket, doesn't it?
He’s 0-3 on Assassination attempts. Now he’s just giving them the finger and taking another lap.
A Hard Cap on Annual Credit Card interest is about the closest thing we’ve seen in modern day to a Ban on Usury. And undoubtedly is all but going to guarantee they try to take another shot at him.
We desperately need this, and further
JUST AN FYI...by saying this NOW, it is "ALMOST" Guaranteed they MIGHT try again...
Ask self "WHY?"...I think he wants the banks to sweat a wee-bit before this goes into affect...The reason: Usury RATES should be control by the STATE NOT THE FEDERAL GOVERNMENT...which is what he is proposing, in a round about way. All banks/credit unions follows the FED rate VERY CLOSELY...
Following two examples shows what PDJT is trying to do:
A 24% interest rate on a 5-year loan can result in a total payment of approximately $34,500 for a $20,000 vehicle, compared to $22,600 at a 5% interest rate.
Usurious interest rates can disproportionately harm individuals who are least able to pay, leading to financial devastation. (banks/credit unions become loan sharks)
Oy vey shut that down.
Ban imaginary money period! Credit cards are digital transaction for money that does not exist! Let's go back to the Gold Standard, where value of legal tender is predicated by tangible assets! Electronic credit is legalized theft!
AND Sir, I do hope "Ric0Suav3" is a male name...😂🧨🧨🧨 is exactly what he is proposing...tieing the USURY rate to the Gold Standard Means the banks will NOT be able to charge the insane fees AND MAKE MONEY OFF THE BACKS OF AMERICANS...
Banks are "supposed" to put their monies in interest bearing accounts so they the banks can draw on that money "earned" AND NOT OFF THE BACKS OF AMERICANS!!!!!
NOTE: Banks are using the FED for this NONSENSE so by getting rid of the FED and using the Treasury, this NONSENSE will bring everything back in-line!!!!
He keeps baiting them with all the good he will do
Watch Kamala try to copy.
Credit card debt is killing me right now I've been paying accounts for 5 plus years and the balances are all still near max due to high interest charges each month slowly squeezing the flexibility of my wallet in other areas of my life and finances to where I'm going broke working my ass off my whole life it sucks
I hope that you’re just not making minimum payments AND still charging with the card. Every year I took two days out of my Algebra II classes and taught how credit card debt can get out of control and how making only minimum payments compound the problem.
I'm realizing my best bet is to probably snowball the 3 small balances ($500 or under each) then focus on the 3 bigger fish (4k, 2.5k, 1.3k)
Yeah the minimums on the bigger three make it difficult to make wiggle room just splitting my paycheck every time on them, my car/insurance, and loan.
I get probably $200 or more just from added interest charge on purchases after I make the big minimum payments that I'm like shucks i gave them all my money just for them to interest add half of it back on my balance regardless if i use the cards or not. They're made enough interest off my to prolly pay my debt off twice at this point. Wish I was as knowledgeable now as I was a youngin'. I'm stumped. Job changes over the last decade haven't helped stabilize it either.
We had $32k in credit card debt. I paid more than minimum every month. It just wasn't going down (our fault, we kept using them). Unfortunately, it took an inheritance to pay it off, but without the inheritance we would have figured out another way. We did have quite a bit of equity in our house so we could have gone that route but neither of us wanted to wipe out our equity. If I was in that situation today, with rates being higher, things costing more - we'd be in big trouble. I pray things work out for you.
The snowball method is a wise choice. I was trying to pay the amount of monthly interest on top of the monthly payment so that the balance would actually go down but with that much credit card debt (and adding more in every month), it was one step forward, two steps back.
Yeah I called my major creditors and told them to eff off. I might just ignore them for a month or two to fry the small fish and deal with whatever fees I incur from them by doing that in the future when I can get around to it.
Solutions sound easy when I'm not fully explaining other Cost of Living expenses outside of credit I also pay.
It's just more infuriating knowing that me and others are wastefully paying hard earn money to corps. Like what do the Bank of America's of the world actually do with all the generated profits? I don't even want to follow the money cause it probably funds shit we don't support and makes CEO's and other top dogs richer and in the 1% elite.
Sell plasma, get a PT job, etc... 10K is a small amount of debt. Even @ 30% APR that's 250 a month interest...
What happened to less government and free markets? Oh, well I guess the unitary strikes again. Ok, now bring on the downvotes
I understand your point of view. I'm torn on how I feel about this. Democrats should love this though, like no tax on tips.
That would sure be nice.
Need to cap the shit at 2%, I'm all for them making some interest but the amount they make right now is beyond ridiculous.
ShutItDown