[Gorzaloon]

But congressional efforts to make all credit card companies discontinue the practice is running into a buzz saw of opposition from the banking industry.

Translation: An ORGY of check writing to political campaigns, a windfall for lobbyists, and enough cash flow in outright bribes to buy Switzerland.

I just got an 8-1/2X14 six page document from my only card company. Yes, yes, the account is always paid up, but still...BURIED in the tiny rambling writ, was a Default Rate of 33%. Yes, yes, I should not care....but it reveals enough of that company so I am hunting for another card.

If there is a defense for that rate, I would like to hear it. A sucker will NEVER dig themselves out, and that's the idea, isn't it?

[texaslil]

“...so I am hunting for another card.”

Try a debit card. It’s amazing how much money one can “make” that way. I then can buy something of equal value and pocket the interest. When I wish to buy something, or need something, I save the money for it. After using the debit card, I figure what the interest would be had I charged it and pay myself payments over the length of time it would cost to pay off the charge. It’s amazing how rich one can become being one’s own banker.