Re: CC told me to see if friend would put settlement on cc

Posted by Linda (65.120.51.4) on July 21, 2002 at 19:58:26:

In Reply to: Re: CC told me to see if friend would put settlement on cc posted by Cassidy on July 18, 2002 at 23:11:45:

Did you lose your job, or what? I assume you were using the card a lot, only paying the minimum, and the raised your rates at that point?

Their logic escapes me, they know the person is in financial trouble, so they jack the rates to where the person can't possibly even pay the minimum payment.

Suggestion to the credit card companies: When you wee they are in trouble, close the account so they can't charge on it anymore, and leave the rates alone so they can pay it off. You won't make any money on the people who default because they can't make the minimum payment.

Linda

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