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Reply #19: Use to be 7% [View All]

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stewartm0205 Donating Member (2 posts) Send PM | Profile | Ignore Mon Oct-26-09 09:07 PM
Response to Reply #7
19. Use to be 7%
Should be prime + 3% max about 6.25%. And the interest rate should stay fix when you borrow. If you borrow at 7% then it should stay at 7%. Some people won't get credit but thats ok since these people are better off not paying 29% interest. 29% interest is bad for the customers, the banks and the credit card companies. The bank executive must have skip economic 101 - how price affects demand. They also forget that the Republicans are not in power anymore and pissing off the voters is not a good strategy.
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  -Dodd Calls for Interim Freeze on Credit Card Fees and Rates bunnysoft  Oct-26-09 07:37 PM   #0 
  - And make it retroactive......  Uben   Oct-26-09 07:40 PM   #1 
  - or even Jan 1, 2009 (or 2008)  gmoney   Oct-27-09 12:30 PM   #29 
  - yet the banking "industry" can cut off customers in one minute or less by the press of a key nt  msongs   Oct-26-09 07:41 PM   #2 
  - Amazing, isn't it? Logic disrupts profits.  dmr   Oct-26-09 07:54 PM   #8 
     - Reallly like your sig adorable..  BrklynLiberal   Oct-26-09 08:39 PM   #13 
  - I was certainly not "difficult if not impossible" for them to raise rates  Ruby the Liberal   Oct-26-09 07:41 PM   #3 
  - Thats a start  DJ13   Oct-26-09 07:41 PM   #4 
  - How about 10%?  ozone_man   Oct-26-09 07:50 PM   #7 
     - Use to be 7%  stewartm0205   Oct-26-09 09:07 PM   #19 
        - Agreed.  ozone_man   Oct-26-09 09:35 PM   #23 
  - They need to cap rates at 15%.  harun   Oct-26-09 07:47 PM   #5 
  - Might be too late  JerseygirlCT   Oct-26-09 07:49 PM   #6 
  - You're years to late and you don't have  Hotler   Oct-26-09 08:03 PM   #9 
  - No, Dodd, you got it wrong again.  Hawkeye-X   Oct-26-09 08:36 PM   #10 
  - Seriously!  graywarrior   Oct-26-09 08:38 PM   #12 
  - Borrow funds from the Feds.....  DeSwiss   Oct-26-09 08:38 PM   #11 
  - Too late for me. Dodd isn't fooling anybody with this move.  Laelth   Oct-26-09 08:39 PM   #14 
  - He worked all this out - Dodd is folloiwng a strategy, not spontaneous outrage.  closeupready   Oct-26-09 08:51 PM   #17 
  - so why the fuck did you give them until February  Skittles   Oct-26-09 08:39 PM   #15 
  - I appreciate the gesture, but this should have been called out a few months ago.  wisteria   Oct-26-09 08:43 PM   #16 
  - If you miss a payment or go over limit, your rates go up because you're a risk.  hedgehog   Oct-26-09 08:58 PM   #18 
  - uh lets see they have been extra jacking the rates the last few months  Kali   Oct-26-09 09:09 PM   #20 
  - too late now Mr. Senator  CountAllVotes   Oct-26-09 09:20 PM   #21 
  - Right.. now that every single company has raised rates to over 20%. Too little, too late.  K Gardner   Oct-26-09 09:34 PM   #22 
  - hello....barn gone....... n/t  ladywnch   Oct-26-09 09:45 PM   #24 
  - exactly. this is AFTER my default non-default notice. n/t  adamuu   Oct-27-09 07:01 AM   #25 
  - Why not just outlaw usury? n/t  adamuu   Oct-27-09 07:02 AM   #26 
  - A freeze would be good, but ...  damntexdem   Oct-27-09 11:53 AM   #27 
  - "I Hate Banks"  gmoney   Oct-27-09 12:30 PM   #28 

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