Related Posts for RMR: Rick’s Rant – Credit Card Rates:
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15 Comments so far
XRayden on
January 13th, 2010
Words!
lazar88 on
January 13th, 2010
The credit card industry is extremely expensive to operate. Without high rates it couldn’t exist, particularly considering most people pay off their bills before any interest is charged. If the rates are too high people will stop using them, or a competitor will lower their rates. Why do none of them lower their rates to get all of the customers? See my point above.
desolate2 on
January 13th, 2010
“examine some protozoa” that was hilarious lol
aqnd on
January 13th, 2010
Fees are paid by merchants, not by Visa, Mastercard, et al.
So if no one carries a balance, there is no net cost to the CC companies.
20% interest in a 2% interest market is absurd.
starscream1122 on
January 14th, 2010
awesome rant!
Robotman42 on
January 14th, 2010
“Don’t spend more than you can afford.” end of story.
quixote22 on
January 14th, 2010
Amen!
MarcZou on
January 14th, 2010
Loan sharks…lol…
imaginetheresno on
January 14th, 2010
Credit Cards can be a wonderful slave or a terrible master….YOU have to decide which you want to live with!
BootstrapBranding on
January 15th, 2010
I share his resolution. My goal is to eliminate ALL CC debt within the next 12 – 18 months. I will only have one CC, for my online business transactions and emergency use… and of course, travel. Which brings up this point…
Ever tried to pay for a hotel room with cash or debit card? They want a $200 deposit (minimum) just so you can keep that charge OFF your card! You are being ‘punished’ for being fiscally responsible. Makes ya wonder… keep CC companies and credit counsellors in business.
Chanceis on
January 17th, 2010
Ummmm….. If you don’t want to pay 20% interest then pay your bill when you get it and don’t roll it over into the next month.
corky064 on
January 19th, 2010
“…And I felt like the dude from the Devinci Code. Looking at the parchment, trying to decipher what exactly happened over the holidays.”
LOL.
jackiechan511 on
January 21st, 2010
Rick Mercer should advocate a interest rate cap (say a max of 10%)
bpidduck on
January 21st, 2010
Hmmm … how about NOT borrowing money? Or perhaps checking your rates BEFORE you borrow?
larrydallas187 on
January 22nd, 2010
tell that to the teenagers that are preyed upon buy the credit card companies.
Words!
The credit card industry is extremely expensive to operate. Without high rates it couldn’t exist, particularly considering most people pay off their bills before any interest is charged. If the rates are too high people will stop using them, or a competitor will lower their rates. Why do none of them lower their rates to get all of the customers? See my point above.
“examine some protozoa” that was hilarious lol
Fees are paid by merchants, not by Visa, Mastercard, et al.
So if no one carries a balance, there is no net cost to the CC companies.
20% interest in a 2% interest market is absurd.
awesome rant!
“Don’t spend more than you can afford.” end of story.
Amen!
Loan sharks…lol…
Credit Cards can be a wonderful slave or a terrible master….YOU have to decide which you want to live with!
I share his resolution. My goal is to eliminate ALL CC debt within the next 12 – 18 months. I will only have one CC, for my online business transactions and emergency use… and of course, travel. Which brings up this point…
Ever tried to pay for a hotel room with cash or debit card? They want a $200 deposit (minimum) just so you can keep that charge OFF your card! You are being ‘punished’ for being fiscally responsible. Makes ya wonder… keep CC companies and credit counsellors in business.
Ummmm….. If you don’t want to pay 20% interest then pay your bill when you get it and don’t roll it over into the next month.
“…And I felt like the dude from the Devinci Code. Looking at the parchment, trying to decipher what exactly happened over the holidays.”
LOL.
Rick Mercer should advocate a interest rate cap (say a max of 10%)
Hmmm … how about NOT borrowing money? Or perhaps checking your rates BEFORE you borrow?
tell that to the teenagers that are preyed upon buy the credit card companies.