[FinanceDude]

Quote:

Originally Posted by Mr._johngalt Okay, first I want to come to the defense of the CC companies. I think they should be able to charge 50% interest per week as long as they let you know the rules in advance. Secondly, I am now (and have been for some time) receiving 100% of my personal income from reinvested promo rate (mostly -0-%) CC money. Thirdly, if I ever did screw up (like be late with a payment or pay the wrong amount), betcha I could negotiate my way out of it (hasn't happened so far). For the life of me I don't understand why people beat up on CC companies/title lenders/payday lenders/buy here-pay here car dealers. It looks like good old free enterprise to me. JG

I understand your points, and you are taking "advantage" of them, as you say. However, they already "got their way" with the new legislation that makes it harder to file bankruptcy,etc. And it was probably legislation long overdue...........

BTW, you can't negotiate with the CC companies.........that "helpful" customer service has no more ability to help you than a paper bag............

I have NO ISSUE with deadbeat customers getting whacked for 50% plus.............what I DO have a problem with is raising customer's rates 10% for NO REASON other than some "utilization ratio" BS. It's all BS............. The ONLY REASON to raise a customer who is never late on their payments and carries a pretty big balance (which they make LOADS of money on, is because they hold all the cards..........

Do you REALLY THINK the CC companies were "suffering" when they had to offer low interest rates? Yeah, much like the oil companies "suffered" when oil was $15 a barrel...................