Interests on credit cards fell slightly from last month.
Posted on 28 January 2009.
Interests on credit cards fell slightly from last month.
Posted in alternatives, industry, personal financeComments (0)
Posted on 17 December 2008.
This very interesting, well-thought out column on CNBC defends high credit card interest rates:
….Credit card debt is unsecured, unlike say, a mortgage or an auto-loan where if you can’t pay, the lender can seize your house or your car. And the 4.9% delinquency rate on credit card debt that Dorn cites as proof that high interest rates are a terrible burden on consumers is also a the main reason why credit card interest rates are so high. If the credit card companies know that they’re not going to be paid back by more and more borrowers, then they have to charge even higher rates in order to turn a profit.
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