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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (26884)	2/21/2005 4:54:19 PM
From: orkrious	Read Replies (2) \| Respond to of 110194

This should open a can of worms. Although I do think that changing interest rates based on payment history is often inappropriate, in general I have little sympathy for people who get over their head in debt. People need to live within their means. If you use credit cards to supplement your lifestyle in a way you can't afford, tough shi*t.

To: Skywatcher who wrote (26884)	2/21/2005 10:48:16 PM
From: starhawke	Read Replies (1) \| Respond to of 110194

"This is the fine print now buried in ALL credit cards" - That is simply not true. At this time. Eventually, I fully expect that it will be true. Each individual Cardmember Agreement rules, and can even vary for a while sometimes among different credit card accounts issued by the same bank. It is absolutely critical to read and understand the initial disclosure, the actual cardmember agreement, and any and all updates/amendments. Those who don't read the legally binding amendments, updates, etc. tend to get themselves in trouble. But "universal default" virtually guarantees that they dig their hole quicker than ever. It's incredibly slimy, and can't be described as even vaguely ethical, but it is coming soon to a bank near you. If only people read legal documents before signing their names... ...but that would be unAmerican. <sigh> S - God bless 'em! Because they are subsidizing cheap bastards like me that hunt down offers of fee-free 0% balance transfers to bank'em and earn interest on someone else's money.