Quote:
Originally Posted by paymydebt
You really think a jump by almost 19% to 29.9% is fair? 1 delinquent credit card in 8 no way justifies this. These people are not losing money if you do the calculations. There needs to be laws in place for this. Even at 11% is not a low interest either that they cannot make money from and recoup any losses due to any delinquent accounts. Just saying because it is "unsecured debt" shouldn't mean an open door to charge whatever you want.
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Yes, I think it's absolutely fair.
If anyone disagrees, they can start their own credit-card company and offer better rates, thus sweeping up all the customers and making a killing.
The fact that no one seems interested in doing that should tell you I'm right.