FishingBanter - View Single Post

**Ken Fortenberry[_2_]** · April 15th, 2009, 04:23 PM posted to rec.outdoors.fishing.fly

wrote:
Ken Fortenberry wrote:
Yeah, cry me a friggin' river. That's what the mother****ers get
for charging 30% interest on cards issued with 10% interest.

Um, no. That's what the mother****ers get for letting other mother****ers...or
in this case, CapitalOne****ers...have credit cards...

I don't know at what point the interest rate jumps, ...

Well, you're getting smarter. Or more intelligent. ;-) At least you
admit you don't know what you're talking about.

but it's generally due to
some form of default in payment terms by the consumer.

If the consumer makes a late payment on his power bill or his
water bill or another credit card the credit card company can
raise the interest rate even though the consumer has never made
a late payment to that credit card company. Yep, it's true,
right there in the fine print.

If the consumer ran up
the charges to the point they couldn't pay the bill, that's on them, not the
issuer for raising the rate as per the agreement. OTOH, it's on Capital One,
etc., for having a business model that presumed any of this was sound
business...

Let these ****ers go under - the businesses and the consumers...

I have more sympathy for the consumer, but YMMV.

--
Ken Fortenberry