Skip to comments.Issuer of 79.9% Interest Rate Credit Card Defends Its Product
Posted on 02/14/2010 2:04:43 PM PST by tfbcowinafog
If you have bad credit in the new era of credit card regulation, be prepared to pay -- dearly -- for the privilege of using credit. That's the message underlying recent credit card offers that feature jaw-dropping interest rates of up to 79.9 percent.
The sky-high rates may be a sign of things to come in the market for so-called subprime credit cards as issuers who lend to the riskiest of borrowers try to figure out how to stay in business and comply with the new credit card reform law.
(Excerpt) Read more at finance.yahoo.com ...
Neither have I.
We go on vacations rent cars and buy airline tickets just fine..
To say that one needs a credit card is a lie.
“I havent had a credit card in 15 years and Im still alive.”
I got mine all paid off about 5 years ago and carry ONE for an ‘emergency’. Haven’t had that emergency yet.
I am my OWN credit card company now. I set my credit limit. I impose a balance payoff each month. How nice it is to have ZERO debt after each Christmas. Unlike everyone else I know...
My credit card bills were pretty big and having those extra bills really cramped my style and provided a lot of stress.
If I want something, I save for it. There’s nothing better than paid for stuff.
I have 500 dollars waiting for me from using my VISA credit card with points. You don't get that with a debit card. If you pay it off every month you're not spending any more money.
My VISA debit card also has points.
There's nothing honorable about it.
Is it one point per dollar spent? If it is then good for you.
I’m not that disciplined and I own up to that. I’m happy paying cash.
Oh heck, if it wasn’t for deadbeats, there wouldn’t have been an America. Or Australia. Beating debts is an old and established custom among our people. Like I used to tell bill collectors on the phone, after they would start calling me names, “ If it wasn’t for people like me, YOU wouldn’t have a job!”
Anyway, for some of the long and noble history of screwing your creditor, see here. Page 11 is hilarious.
parsy, who has been one of those “divers” people
I earn miles with my VISA debit card - Alaska Airlines mileage program where I can earn and spend miles with a dozen airlines (Internationally and domestically). I earn a mile for every 2 dollars spent.
I USED to be able to buy postal money orders and earn miles; for $180 worth of money order fees I could earn 60,000 miles (buy $2000 worth of money orders, pay the $3 fee, earn 1000 miles, deposit the money orders back in your bank account that afternoon, repeat the next day). Enough for a round trip international flight on NWA, Delta, or American Airlines. However, they finally got wise to that last year and stopped giving mileage for money spent on stamps or money orders. Racked up 300,000 miles until they caught that one, though...
It was nice, though, to fly to Bangkok, Munich, Santiago, Beijing, and Tel Aviv for $180 each!
Putting the weenie to usurers is noble! I refuse to believe otherwise. C’mon, these people charge 79.9% and you still don’t see them for what they are?
And what about Jesus? The only time he got p*ssed off enough to kick some *ss was over the usurers and moneylenders in the temple. If it was enough to p*ss Jesus off, I got to think I am on pretty solid ground.
parsy, who’s type will “lo, be with us forever”
How complicated is it?
People who are dumb enough to owe credit card debt are dumb enough to owe it at any rate.
79.9% interest. Isn’t that thievery or usery?
Don’t waste your time on “farsy”. He’s not a conservative in any way, shape or form. He’s just a little fairy that flits around FR trying to tell others how to be a “true conservative”, i.e a socialist. He’s such a joke (see some of his previous posts) I don’t even read his responses. Just a friendly warning!
How do you buy airline tickets?
I don’t have much sympathy for these usurers.
What about the biblical laws against usury? Where do they fit in?
Amen to that!!!! I pay cash for everything. Very Very rare I use credit cards now. Debit works just fine for car rentals etc...
People, you dont need credit cards. I am trying to stay off the grid as much as possible.
It feels really good and free to have that debt hanging over your head.
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