[lbo-talk] Credit Card Loan Delinquencies Reach Record High

joanna 123hop at comcast.net
Tue Oct 4 11:10:15 PDT 2005


Wojtek Sokolowski wrote:


>The bottom line is, however, that credit card is a valuable asset
>(especially for the low and moderate income folk who do not sit on a lot of
>savings) and there is nothing wrong to pay a reasonable fee for that asset.
>Unfortunately, many credit card companies charge very unreasonable fees, but
>one can still get decent deals from credit unions and kindred institutions.
>
What is truly outrageous is that they get their money at 3% and loan it out at 12 - 30%.

30 fucking percent.

Joanna


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