Monster, there was no problem for me in terms of credit or cash.
The Goodyear credit card was a convenience for me until the end of this month.
The problem is that a 29+ % interest rate is more than outrageous,
and there is nothing to stop corporations from this usury.
By the way, "usury" in the dictionary is:
Quote:
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the illegal action or practice of lending money at unreasonably high rates of interest.
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But the US Supreme Court decision changed that definition, it is now:
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the legal action or practice of lending money at unreasonably high rates of interest.
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I believe similar interest rates are to be found on many of the "company" credit cards, such as Goodyear.
I also suspect there are similar interest rates existing on the generic cards, such as Visa, MasterCharge, etc.
I further believe that most people who get into trouble with their credit are not
truly aware
of all the fees and rates and conditions that come into play when an account balance is not paid in full
by the next date due.
It is just way to easy to excuse or ignore the situation by blaming the victims.