Comments on: A national cap on consumer interest rates?

By: Noncenx

Noncenx — Mon, 13 May 2019 21:35:35 +0000

Ahhhhh but with the Post Office handling all your banking needs everything will be okay. Don’t qualify for a “regular” credit card, let the Post Office issue you one at a “fair” interest rate. Even though you don’t have a stable job or a decent credit history, you deserve to be in debt like the more better off of us. And if you can’t pay, no worries. Uncle Bernie will be there to write if off like student loans. It’s only fair, after all.

By: cc

cc — Sat, 11 May 2019 19:06:29 +0000

For me, the interest rate on my card is 0% because I pay it off every month. If you use a debit card there is again no interest rate.

These idiots think that by fiat they can “fix” a problem, but end up hurting the poor. There are good reasons that people need short-term credit even at a high interest rate. Maybe without the credit you get kicked out of your apt and become homeless or get your car repossessed. Maybe you need it go post bail so your husband doesn’t lose his job. Might be worth it.

By: Heresolong

Heresolong — Sat, 11 May 2019 18:43:04 +0000

Good lord, who are these people with high credit ratings who are taking out credit cards with an interest rate over 17.73%? I have a Visa that I’ve had for decades and it has never gone above 7.5%, even when I had some credit struggles due to a divorce.