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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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