I don't know that 29% is totally inappropriate. Some people are huge credit risks and a low limit with a high interest rate is the only way to extend credit.
The problem is that the average cc user most likely isn't anything close to risky enough to justify those interest rates and ,in fact, it's the high rate that causes them to become the risk of anything goes South in their life.
Why would they care? They have huge salaries and the just don't give a #%^$. But that is slowly going to change on Jan 21. Oh, by the way, why would a Credit Card company want to have one trillion dollars of debt still owed? Oh, wait, they want customers to be poor by having to constantly pay off their debt and to rake in more and more interest fees, keep the customes even poorer. It's a racket and these folks will be brought down. Hope you guys who are holding their stocks are going to sell soon before it's too late.
That would be much better but I would like to see them at between 6 and 8 percent. They do nothing for the money. A lot of industries are run on less profit, and it is not like the CC companies have a lot of labor overhead.
I don't know that 29% is totally inappropriate. Some people are huge credit risks and a low limit with a high interest rate is the only way to extend credit.
The problem is that the average cc user most likely isn't anything close to risky enough to justify those interest rates and ,in fact, it's the high rate that causes them to become the risk of anything goes South in their life.
Can you spell usury?
I thought I put usury in the title. I started to put Shylock
The entire credit system needs to be revamped. This is merely the tip of it.
Why would they care? They have huge salaries and the just don't give a #%^$. But that is slowly going to change on Jan 21. Oh, by the way, why would a Credit Card company want to have one trillion dollars of debt still owed? Oh, wait, they want customers to be poor by having to constantly pay off their debt and to rake in more and more interest fees, keep the customes even poorer. It's a racket and these folks will be brought down. Hope you guys who are holding their stocks are going to sell soon before it's too late.
The sleazy culture came downstream from the casual pedo scum at the top.
It is high time to put a cap on these crooks profits. They suck the life's blood from the working people.
One of Trumps stated goals for this term was to cap the interest rates that could be charged by credit card companies at 10%.
That would be much better but I would like to see them at between 6 and 8 percent. They do nothing for the money. A lot of industries are run on less profit, and it is not like the CC companies have a lot of labor overhead.
She looks like Michael Jackson