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.
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.