@JeannieJeanious @MilaLovesJoe You make it sound like people want to be there. They have to when the president believes they are above the constitution.
@TexasOncologist@SandLot84 Given that credit card rates are no longer tied to either the Fed funds rates or charge offs rates today you are correct - it is absurd. Absurd what they are charging for such low charge offs.
@applypressure28@SandLot84 You are referring to charge offs. And what apparently a lot of people don’t seem to realize is that today’s charge offs rate is far lower than today’s interest rate. They assume companies are charging what they must. In reality they are price gouging.
@AlexHormozi@EricLDaugh Interest rates SHOULD be the price of risk. But interest rates have diverged from charge offs in recent years. So the rate is not the price of risk anymore. It’s just price gouging.
@SandLot84 Not sure what I need luck for when I have knowledge and skill. Sorry that you cannot acknowledge the truth about price gouging by credit card companies. That’s why both sides have come together on this issue…
@SandLot84 The government is supposed to prevent monopolies from harming consumers. That’s exactly what has happened in the credit card industry. Sorry that you had to hear it from a sock.
@SandLot84 What are you talking about? Credit card companies are extremely profitable! They could still make a profit at 10%. I don’t know how you equate the need for lenders with the idea that they should be allowed to charge whatever ridiculous price they can get away with.
@SandLot84 Do your research before you open your mouth. Interest rates used to be tied to charge off rates but credit cards companies realized they could get away with charging whatever they want. The gap between the two has never been wider.