Ya know. I don't really mind too much when we pay $200 for the legendary military hammer, or millions of dollars of foreign aid to needy countries, I don't mind my tax dime supporting the poor or the seniors, hell, I don't really mind the tax bill, it is a fact of life. But do you suppose it would be asking too much for the govt to impose a fair/limit on interest rates on credit cards. We really are a group of small fish being taken advantage of by the sharks. They raise the rate because they can, not for any other reason, in some cases. What happen to fair trade? One might call this free market capitalism but it's a lock.
I booted all banks about 3 years ago. It is amazing how calm a relationship is with reliable credit unions. Mortgages/Loans, credit cards, bank accounts all at better rates, and I don't get a constant flood of "offers" about credit protection plans, opening up stock or other accounts, etc. I think banks see their current customers as cash cows to be milked...
a 25 year old can build up 100 grand in credit cards and then bang em out for cash. fuck it,he's young so file chapter 7 and wait 7 years. youhave 100 large and don't need credit..\\\ ubfortunately that is hard to do now,the cops will be at your door with an arrest warrant for fraud., its tough but not impossible.
ubfortunately that is hard to do now,the cops will be at your door with an arrest warrant for fraud., its tough but not impossible. _______________________ Tell them you bought a bunch of lottery tickets with the money and would be more than happy to pay them back ten dollars a month. Keep a copy of gamblers hotline phone number in your pocket.
.... and I thought Citibank was bad for robo-calling me several times per week trying to sell me something. Since we have a 'relationship', the do-not-call rules are void. Each time I call & complain, they tell me it will be 30 days before it actually stops. After 30 days I call again & they apologize profusely but tell me the previous rep didn't actually do what they said & it will be another 30 days. I'd switch in a heartbeat except 1) it's such a pain & 2) it doesn't look like any of the other scum banks are any better ..... I find it amazingly astounding that these corporations find it so easy to abuse their own customers - with such impunity. R
No, it wouldn't be asking too much. In fact, it's called the Usury Law. What's humorous is that somehow the credit card companies must have figured out a loophole. Because trust me, 29%, (or 18% for that matter) is WAAAY over the usury limit. Look it up in your state...you will be surprised. OldTrader
The first thing I ever bought through the NFCU...a 84 Honda VF750F. Pleasant memories of the sheriff's chasing me all over North County...and the women of Sandy Dog back in the day. Man o man.... Totally indestructible at 19.
How do these companies avoid usury laws? I remember many years ago having one of those starter type credit cards, I don't remember from who, but they were charging me 34% interest. If I remember correctly, the limit in California at the time was 29%, (this was back in the late 90's or so). Anyway, I simply transfered it when I was offered a better deal from another company, I didn't really have to call the cops on them for charging me more than the law allowed. I have a B of A Visa right now. I don't know what the interest rate is, but I did get one of those letters a few months ago. I don't carry balances on it, so it doesn't matter. But I will have a balance on it in the next few months as I pay for medical procedures not covered by insurance. (I'm having elective cosmetic surgery) BTW, that's the answer to how some people get into debt - it's not all because they go out buying huge flat panel TVs and Ipods. If you've ever been hit in the mouth with a baseball you can start racking up some credit card debt too. Unexpected legal charges from a neighbor suing you because your car dripped oil on a public street can get you too.