Regulate interest charges on credit cards.

Where do you stand on this. I for one am of the mindset that anti-usuary laws should be reinstated. I think anything over 15% is unacceptable and should be illegal. And your performance on contract is with a single company, how you perform with another company should not even be part of the equation. If you miss a payment with company B company A should not even be allowed to know that let alone adjust your arrangement with them.

I may have personal reasons for not paying company B, company A has no right if I have not missed a payment with company A to adjust my agreement based on something I do with company B.

Why is it that our credit histories are public knowledge, yet the books of banks and credit agencies are private?

 

Very brief but well-written article about this:

http://www.newswithviews.com/Ryter/jon281.htm

 

This actually happens.

Lengthy responses like your type of replies Rat lead folks to stop reading, is that what you are trying to accomplish.

 

What are you talking about?

If people don't have the attention span to read a few paragraphs, why should that be my problem?

 

That post actually wasn't too long, a balbus sized post should be the marker at where people stop paying attention

 

But I think we can see how much input this thread has received since Rat's post. Summers fell asleep, so did the readers here on HipForums.

 

:cheers2:

 

And how did you come up with that number?

 

I agree with the opening post.However the maximum interest rate should be only be 5%.--Most large businesses will try and do get away with any and all types of criminal activity-if they are allowed to.----And with de-regulation they have been allowed to.----Go back to what "used" to work very well, strict and proper regulations,unless the US wants to keep marching towards what it is becoming--a 'Corporate Dictatorship' and laughing stock of the free world.

 

If a credit card has an interest rate you don't like, then don't use that credit card. How hard is that? With all the offers that are going around for low interest rates, even if they are for a limited time, you can be a credit card hopper. A friend did that. As soon as either they raised the rate or he found a better rate he would transfer over to the lower rate card.

Have you ever actually talked to your credit card company about lowering your rate? It is possible, especially if you tell them you are getting ready to switch to another card with a lower rate. They may not care, in which case you switch to a better card, though I have known a few people to get them to lower the rate.

So why do we need the government to regulate this just because you are too lazy to do a little work in finding a credit card that you do like?

Plus, if you don't like any credit cards then don't use them.

 

What are you on the board of directors for Bank of America or something.--Sorry but I do not feel sorry in the least for these companies.I have more sympathy for the mafia,because at least the mafia has 'some' integrity.

 

There is law reform taking place in Canada as we speak to curtail cash advance day loans on the interest. You know, those places where you take your paycheque to cash it in and get a 18% interest.

 

But that's not really an answer.

If you don't like what your card company charges, change companies. Or stop using cards. OR pay off your balance every month! You have so many options, but you want the government to save you.

 

Hiptastic I'm not looking for the government to save me,all I'm saying is these companies(not only CC companies) should be highly regulated 'again.'I quoted most of the opening post because I fully agree with it.--I rarely even use CC cards anymore,so this is just about whats right and wrong .If a company plays fair fine,if not they should be penalized to the max.The UK just fined a company a record amount of over 1 billion dollars,and I commend the UK for doing that. A sidenote:my last post was not directed at you.I also happen to like your posts.