creditcard US trend

**HorseShit** · 06-11-2009, 09:21 AM

It has nothing to do with the high interest rates or ridiculous terms

**Sly** · 06-11-2009, 09:23 AM

I use my credit card only. I find it easier than messing with cash and just never really got into debit... plus I get points and it is good to responsibly use your credit. Pay it off every month.

**Rochard** · 06-11-2009, 09:25 AM

I haven't had a credit card in like fifteen years...

**notime** · 06-11-2009, 09:25 AM

Originally posted by Justin

It has nothing to do with the high interest rates or ridiculous terms

I heard they charge up to 28% in intrest rates the US, it that rumour true ?

**HorseShit** · 06-11-2009, 09:28 AM

Originally posted by notime

I heard they charge up to 28% in intrest rates the US, it that rumour true ?

Somewhere around there but Americans need their mcd's and will gladly pay 30% on their bm meal

**pornguy** · 06-11-2009, 09:30 AM

I have been saying that for a while that people were spending less and thats the main reason we have dropped in sales.

**Sly** · 06-11-2009, 09:30 AM

Originally posted by notime

I heard they charge up to 28% in intrest rates the US, it that rumour true ?

"Up to," some do. Mine are between 8-14%.

**Elli** · 06-11-2009, 09:31 AM

I hate using my credit cards for daily things. I reserve them for shopping online and big purchases, pretty much. Everything else is cash or debit.

**FilthyRob** · 06-11-2009, 09:33 AM

Originally posted by notime

I heard they charge up to 28% in intrest rates the US, it that rumour true ?

I had my Chase card about 2 years ago, missed a payment by 1 day, they raised my rates from 12.95% up to 29.99% and would not budge on it whatsoever.

I had never and since never missed or paid late again.

**MakingItPay** · 06-11-2009, 09:37 AM

Originally posted by Elli

I hate using my credit cards for daily things. I reserve them for shopping online and big purchases, pretty much. Everything else is cash or debit.

I like to use my credit card for every purchase. I use cards that earn points. You can get a free flight or 2 out of it every so often.

**GetSCORECash** · 06-11-2009, 09:37 AM

new credit cards issuers are hard to find. Bofa now owns a big portion of the new credit cards being offered.

**notime** · 06-11-2009, 09:42 AM

Originally posted by Sly

"Up to," some do. Mine are between 8-14%.

Originally posted by FilthyRob

I had my Chase card about 2 years ago, missed a payment by 1 day, they raised my rates from 12.95% up to 29.99% and would not budge on it whatsoever.

I had never and since never missed or paid late again.

Is that even legal to charge these insane and irresponsible percentages?

**Sly** · 06-11-2009, 09:56 AM

Originally posted by notime

Is that even legal to charge these insane and irresponsible percentages?

There is a legal limit.

Nobody is forcing anyone to use a credit card. Granted, some of them do have very shady tactics, but consumers themselves need to exercise responsibility when dealing with credit cards.

**Yen_HerbalRevenue** · 06-11-2009, 10:08 AM

Originally posted by notime

Is that even legal to charge these insane and irresponsible percentages?

Sadly it is Legal... These companies can pretty much do whatever they want. I have had my card for a few years. I always pay on time and do not carry a high balance. When I opened another card they raised my interest rate. When I noticed it and called them to get a reason why, they told me because another company ran my credit and that lowers my score so they can raise rates depending on your credit score.

I was very bullshit because what I do with another company should have nothing to do with them. I had been a great customer for years. I closed the card I was so mad.

**Sly** · 06-11-2009, 10:21 AM

Originally posted by Yen_HerbalRevenue

Sadly it is Legal... These companies can pretty much do whatever they want. I have had my card for a few years. I always pay on time and do not carry a high balance. When I opened another card they raised my interest rate. When I noticed it and called them to get a reason why, they told me because another company ran my credit and that lowers my score so they can raise rates depending on your credit score.

I was very bullshit because what I do with another company should have nothing to do with them. I had been a great customer for years. I closed the card I was so mad.

Opening up another credit card, that you could potentially max out and default on your original credit card, does affect them. That's how credit works.

**STAROTICA** · 06-11-2009, 01:42 PM

Originally posted by Sly

There is a legal limit.

Nobody is forcing anyone to use a credit card. Granted, some of them do have very shady tactics, but consumers themselves need to exercise responsibility when dealing with credit cards.

Just tell them your going to file a complaint....FTC for one.....and take you business elsewhere....

I tell them this.....your making easy $$$...now do you want to earn something or NOTHING.....FUCK with all of the bankruptcys you could play that card too.....why should all the big boys reap the rewards?

DUMBIEST BANKS....got a lock on loans you will never get out of.....lets fuck the consumer some more....its fucked up!

I would rather go to a loan shark......with them you know what you getting into.....and they dont report to the 3 major's!

**seeandsee** · 06-11-2009, 01:43 PM

debit on the run

**notime** · 06-11-2009, 01:48 PM

Originally posted by Sly

There is a legal limit.

Nobody is forcing anyone to use a credit card. Granted, some of them do have very shady tactics, but consumers themselves need to exercise responsibility when dealing with credit cards.

Around 20 or 30 % seems more like a shakedown then a reasonable credit facility which is usually around a healthy 3% to 8%.

**Sly** · 06-11-2009, 02:32 PM

Originally posted by notime

Around 20 or 30 % seems more like a shakedown then a reasonable credit facility which is usually around a healthy 3% to 8%.

You can barely get loans for 3-8%, inflation alone is 3-5%.

creditcard US trend

creditcard US trend

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