When these banks are borrowing money at 0% from the Fed .... My Citi Card is 20.99% , and I have a 780 FICO score . And they wonder why people are not spending, because the banks are worse than loan sharks !
In fact, I argue for the abolition of the banks altogether. As we have seen with the bailout the banks are more irresponsible than the consumers and their massive overleveraging is the core of the problem.
There is no reason why the federal government shouldn't lend directly to the citizens. We no longer need local branches of banks with the advent of the internet. The entire banking industry produces nothing along with wall street. It is simply a parasite that infects, poisons and steals the life out of america.
Someone else will be waiting to steal your money.
"There is no reason why the federal government shouldn't lend directly to the citizens."
As long as they create money out of nothing most of the interest could be used as a tax. The problem is the government has proven it cannot run a lemonade stand. So to make a long story short, we would have to change the way we create government!
There are plenty of credit cards that have 0% on purchases and balance transfers for 6-12 mos. I get one about every week in the mail.
but i've been identified as a low risk because i pay my cards off every month as well as being current on all my other bills.
i agree that the creeps that don't pay are a problem. I've always wondered why the banks can't get the merchandise back from these jerks when they don't pay. They get to keep the big screen tv's,jewelry,furniture,etc. And the banks just write it off and charge these exhorbitant rates to those of us who are financially responsible.
Yeah, you pay 21% because your credit sucks.
It isn't the banks, my annual apr on my Amex is 4.5%. It's you.
Look into fixing up your credit. There are many services out there that can help you. Also, try paying your bills on time.
You POS, I have a FICO score of almost 800 ! 780 to be EXACT...I can all but guarantee it's alot higher than yours. Do you even know what a FICO score is , probably not ! BTW, been with CITI for alost 15 years, NEVER a late payment...Shut you're pie hole,if you don't know what you are talking about ..Enough said !
It must have sucked when they put a gun to your head to purchase a credit card. I also forgot we cannot use cash anymore or earn the money first before purchasing. Thanks for reminding us we don't have any other choices.
Really, did you buy you're home with cash, or credit ? Yeah, that's what I thought . Some people have large business's that use revolving lines of credit, like probably MOST business's i the USA ...Think before you respond . Once again, my problem is banks getting to borrow tax payer funds at 0%, but not being fair with responsible credit users !