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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (19564)	11/10/2003 7:01:40 AM
From: philv	Respond to of 81187

I thought I had "arrived" when I received one which promised up to $100,000 limit. Ha ha. I get a kick out of some guys who have this long fold out of credit cards in their wallets. Quite impressive really as they display their cards to the clerk. Like.....well, which one should I use today? Hmmmm Impressive because it implies credit worthiness, wealth. Unfortunately, for many, the exact opposite is true. The wealthiest guy is the one who doesn't use them, and pays by debit card, cash or cheque. The good thing about having many cards, you can pay one off by charging another. This can go on for a long time. There is almost no end to the number of cards available. Credit card delinquency must be enormous, but it is still profitable because of the relatively extremely high interest rate. The Companies, who pushed this abomination upon the public in the first place, without concern for credit worthiness, now claim they need these high usury rates because of the delinquency rate. It is a virtuous circle for them, and a credit trap for many.