The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Moominoid who wrote (63503)	10/8/2006 1:48:25 PM
From: Dan3	Read Replies (2) of 306849

Re: I have credit card debt but at 0-3% I called them up and insisted they reduce the limit once (since the limit at that time was more than I'd have felt comfortable borrowing). They reduced it as requested and then about a year later started increasing it in big chunks every couple of months. I don't want to have to keep calling them and don't like the risk that I see of the current limit and plan to drop that particular card. I don't expect to charge a new Porsche on a credit card and don't see what else anyone could do with such a high limit, except get defrauded. I believe the country badly needs to bring back usury laws. The fine print in almost all credit card agreements allows them to increase your rate to ~30% if they decide you are a risk - even if you're never late with a payment, it's their call. Reading credit card offerings provokes a combination of anger and hilarity. The credit card companies make drug dealers and pimps look honest and straightforward by comparison. I'm tempted to just revert to cash, despite its lack of convenience.

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