Quote:
Originally Posted by After Shock Media
I have always felt that credit cards should only end up in the hands of the select people who have built up a very long credit history. Not those with bad credit, no credit etc. For those people they should be limited to debit and secured cards only.
So again greed by some, buying shit you more than likely do not need when you can not afford it for others, and then some just ignoring debt all together.
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The credit card companies are in biz to make money. They make more money giving high risk customers credit than they do giving cards to low risk customers. They know the high risk people will buy shit they can't afford and be late on payments, allowing them to raise the interest rates to 28% or what ever they can legally charge. Not to mention the fines they will stack on top for them not paying on time.
High risk is where they make their profits.