Quote:
Originally Posted by woj
Yea, but it's pretty clear (at least to me) that interest they charge is variable and depends on numerous factors including your credit score, if you are late on payments, your credit score plummets, and so your interest rate goes up...
|
Yeah.. increasing interest rates is really going to help someone that's already struggling to make the payments.. all it does is force them to not be able to pay anymore... so the CC companies never get their money. And really, what does the person who fucked up their credit care.. Within 5 years they can fix that and the CC company STILL doesn't have their money. It's a truly fucked up model that someone obviously created with their head up their ass.