RMR: Rick’s Rant - Credit Card Rates
Ricks Rant for January 12, 2010
Tags: rates, Rant, Rick's, Credit, Card, credit card rates
Related posts:
- Consumer Credit Card Rates Up Over Half-Percent Since January 1; Business Rates Hold Steady as Issuers Woo Business Owners
- Credit card Interest rates fall for first time since May
- New Credit Card Rules Tackle Fees, Rates
- Fed proposal unlikely to lower credit card rates
- Credit Card Rates Up for Sixth Straight Week
tell that to the teenagers that are preyed upon buy the credit card companies.
Hmmm … how about NOT borrowing money? Or perhaps checking your rates BEFORE you borrow?
Rick Mercer should advocate a interest rate cap (say a max of 10%)
“…And I felt like the dude from the Devinci Code. Looking at the parchment, trying to decipher what exactly happened over the holidays.”
LOL.
Ummmm….. If you don’t want to pay 20% interest then pay your bill when you get it and don’t roll it over into the next month.
I share his resolution. My goal is to eliminate ALL CC debt within the next 12 - 18 months. I will only have one CC, for my online business transactions and emergency use… and of course, travel. Which brings up this point…
Ever tried to pay for a hotel room with cash or debit card? They want a $200 deposit (minimum) just so you can keep that charge OFF your card! You are being ‘punished’ for being fiscally responsible. Makes ya wonder… keep CC companies and credit counsellors in business.
Credit Cards can be a wonderful slave or a terrible master….YOU have to decide which you want to live with!
Loan sharks…lol…
Amen!
“Don’t spend more than you can afford.” end of story.
awesome rant!
Fees are paid by merchants, not by Visa, Mastercard, et al.
So if no one carries a balance, there is no net cost to the CC companies.
20% interest in a 2% interest market is absurd.
“examine some protozoa” that was hilarious lol
The credit card industry is extremely expensive to operate. Without high rates it couldn’t exist, particularly considering most people pay off their bills before any interest is charged. If the rates are too high people will stop using them, or a competitor will lower their rates. Why do none of them lower their rates to get all of the customers? See my point above.
Words!