why? because some people simply don't know how to use it, get into too much debt and file for bankruptcy, therefore credit card companies taking on a major risk... so they charge higher % to make up for the morons that don't know how to handle expenses... besides, whole point of a credit card is to have a simpler payment option then carrying thousands in cash everywhere... it costs me $0 to use my visa, because I pay i right away, people who miss payments and get stuck with 19% should not have it in a first place... they're trapped because of their own actions, why should credit card company reward those idiots with 3% interest rate?
Quote:
Originally Posted by Vjo
YES, I will agree. Everything has two sides. Which is maybe why these threads start. 
Some people are to blame. They overspent and now are in debt. The real problem in our economy is 1 thing... personal debt.
And not able to file BR due to assets are trapped by 21-29.9% interest payments.
WHY are credit card companies able to charge 29.9% interest? Lobbying.
To bleed you (or if you are fortunate) then your neighbor DRY. To stifle them.
Yes! It is their fault. The borrowers.
But 29.9 or 21.9 is rediculous in a slow economy.
There are answers I have for that too (getting rid of debt) but I prob posted enuff for today. |