Quote:
Originally Posted by BlackCrayon
they should offer more options for lower interest rates to more customers. They would probably be more inclinded to pay off more if the interest rate were say 9% rather than 24%.
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Another possibility could be that the banks begin to offer tons of low-limit cards, at high interest rates, with big annual fees. This reduces big risks, and all of the bank fees will cover the write-offs.
Once people get desperate enough for credit, it will be the banks that hold all of the cards (pun intended).
I don't like that plan, but at least it allows people the option to make online credit card transactions....