Based only on what is in the small clip of the interview, I think the guy is wrong. Sure, many CC companies are scummy, but he signed the contract and he should pay what he owes. The CC companies shouldn't (and probably won't) have to go to court to prove that they are making a "fair" profit. If the markets are competitive and open, then "fair" is whatever they can get. This guy should just vote with his money and get a different card. That's the way a market works, and how adults should behave.
...how adults should behave.
Based only on what is in the small clip of the interview, I think the guy is wrong. Sure, many CC companies are scummy, but he signed the contract and he should pay what he owes. The CC companies shouldn't (and probably won't) have to go to court to prove that they are making a "fair" profit. If the markets are competitive and open, then "fair" is whatever they can get. This guy should just vote with his money and get a different card. That's the way a market works, and how adults should behave.
Sam, with all due respect, you are wrong, wrong, wrong! This joker is ENTITLED to a better CC program, and if he doesn't get it, then he should be able to just walk away from his CC balance. It's no different than a mortgage, HELOC, or car payment. If you don't like the circumstances, just refuse to pay! Walk away! Create your own personal bailout program! Personal responsibility, paying your bills, making responsible choices- that's just so overrated. Pretty soon we'll see these same folks suing over their lower credit scores- how could that possibly be their fault? Its the age of entitlements, and you need to get on board with the new deal, my friend.