Are Credit Card Companies glorified Loan Sharks?
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They charge any interest rate they want, give credit to anyone, can charge late fees and fees at their discretion, have idiots manning the phones.
Why do the credit card companies continue to get a free pass?
Here is what they do. They send out billions of letters to Americans with the offer of free unsecured credit lines, knowing that there is a chance that the consumer will charge up the line and not pay. Then they swoop in like a lone shark, and start charging points to the point of bankruptcy.
The problem with America's economy stem from mainly the credit card companies! When a kid just gets out of school, can go to Macy's and charge $500 on a card not knowing then how to pay, is just one example.
Are Credit Card Companies glorified Loan Sharks?Yea i agree.
If you play the credit card game sooner or later you will start losing at the game. Once you start losing at the credit card game. it's hard to get out of the game. High interest rates that they can raise for any reason. Outrageous late fees and over the limit fees. You'll never get ahead playing the game.
Are Credit Card Companies glorified Loan Sharks?you got that right!
Are Credit Card Companies glorified Loan Sharks?Why do the credit card companies continue to get a free pass?
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Because they have Bush and many in Congress bought and paid for. MBNA was Bush's biggest contributor in 2000 and 2004....more than Enron or big oil....They also have many Democrats in their pockets too. Because of this they are basically free to write their own legislation.
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