Credit Cards - have you read recent letter to you from them? 37% interest

[Pallas180]

in some cases,,,,,28% interest ordinary, raised late fee, raised interest rates.

This is usury - unconscionable....and we ought to be writng the newspapers and CONGRESS about it...

It's gone too far now.

Outraged.

The biggest banking lobby in DC.

Fukem

WE NEED TO PRESSURE THE WHORES IN CONGRESS TO STOP IT AND ROLL BACK
THESE OUTRAGEOUS INTEREST RATES AND FEES.

[SoCalDem]

1. Here's what will happen.. It's inevitable

As soon as the bankruptcy bill starts to "move" again, LOTS of people will just max out whatever cards they have,and then bail out before the laws make it impossible..

The sucking sound you will hear, will be the credit card accountants, writing off all that debt.

Credit cards will return to the way they started..Only the most credit-worthy customers will get them...all others will pay cash.

People all over the place have refi-ed to the hilt, and are a few paychecks from BK already,so I expect this to be the "other shoe"..

[Droopy]

2. This is the first I've heard

of an interest rate as high as 37%, but the credit card companies have always had somewhat high interest rates. They want you to charge up a bunch of purchases that you can't pay for at the end of the month and then they stick it to you and start making the money.

What really sucks about the high interest rate cards is that some people who get them are those who don't have enough money to begin with and they really get into trouble ruining their credit or just paying the minmum payment because that is all they can afford. And when you do that with a card that has a high interest rate, you are going to be in debt for a long time.

[Pallas180]

3. Hey, read the inserts they send, as of Jan 05 these rates go into effect -

and you dont have to be a bad credit risk.

Read the inserts you usually throw away.