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Aussie105

(6,952 posts)

19. Whoever came up with the concept of credit cards needs to . . .

Reply to BumRushDaShow (Original post)

Sat Nov 23, 2024, 05:55 AM

Nov 2024

burn in Hell for eternity!

The bank is just lending you some money - there is no reason for the high rates.
Other than greed.

Too easy to spend money you don't have, too easy to go into the interest paying period, too easy to dig a hole you can't get out of.

The people who pay the interest are usually those who can least afford to, all they need is a financial emergency that is more urgent than paying down the card on time.

I use cash all the time, have a debit card and no credit card.

Out of interest, what was the interest when the credit cards first came in?

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Highlight:

Dozens of retailers jacked up interest rates on store cards ahead of Fed cuts [View all] BumRushDaShow Nov 2024 OP

Assfugs UpInArms Nov 2024 #1

Just wait until the tariffs start Yavin4 Nov 2024 #2

Why is ANYBODY ever allowed to charge any of the usurious rates mentioned? mpcamb Nov 2024 #3

Why would anyone be dumb enough to use a charge card at places like Big Lots or Michaels in the first place ? MichMan Nov 2024 #4

Michaels, I can see jmowreader Nov 2024 #8

Wedding planners should be paying off their balances quickly, so interest rates shouldn't matter MichMan Nov 2024 #9

These companies often offer fabulous deals up front to get their card to use on their merch. Intractable Nov 2024 #16

Hey DENVERPOPS Nov 2024 #15

Reagan couldn't have done it without congress. MichMan Nov 2024 #17

No Idea............ DENVERPOPS Nov 2024 #18

Reagan had a Democratic congress all eight years MichMan Nov 2024 #21

I tell my friends and not frequent those businesses at all. That's what I can do. Magoo48 Nov 2024 #5

But since the Fed rate cuts began on Sept 18, interest rates have plunged, uh, well, no, they've gone up nmmi Nov 2024 #6

We should avoid the store cards Marthe48 Nov 2024 #7

If at all possible, pay cash when you buy gas. Dem2theMax Nov 2024 #10

Thanks for the tips Marthe48 Nov 2024 #12

I know the feeling! Dem2theMax Nov 2024 #14

We gave up our credit cards decades ago. eggplant Nov 2024 #11

This is the kind of gouging of the public that VP Harris promised to go after. Jit423 Nov 2024 #13

Whoever came up with the concept of credit cards needs to . . . Aussie105 Nov 2024 #19

Thank you for sending me down the rabbit hole! BumRushDaShow Nov 2024 #20