Universal Default

[Juruense]

The end may be near for this greviously unfair practice:
FOXNews.com - New Credit Card Rules May Bring Some Relief to Consumers - Local News | News Articles | National News | US News

 

[Grey03Cobra]

That will be nice if it gets pushed through. I wasn't aware of the universal default clause...seems like a bunch of bs to me. It doesn't make sense either. If the CC company wants their money, increasing rates and penalties is likey to cause someone to default on their payment, which means the CC company gets nothing. If they lower their rates and make the payment more manageable, then the consumer is more likely going to be able to pay them.

Too bad common sense can't dictate these types of economic things instead of greed.

 

[Juruense]

Not many people have heard of universal default, until it is too late.

 

[Robert Francis]

"Common sense" dictates don't borrow more than you can afford to pay back on a timely basis. That way neither the borrower nor the lender has any problems. Unfortunately we seem to have little of that "common sense."

 

[Grey03Cobra]

"Common sense" dictates don't borrow more than you can afford to pay back on a timely basis. That way neither the borrower nor the lender has any problems. Unfortunately we seem to have little of that "common sense."

Unfortunately "common" sense isn't that common.

 

[Juruense]

The blame the victim mentality is what allows things like universal default to get passed in the first place.

 

[SID297]

I must be the only person in the country who pays their CC bill off every month.

 

[matab14]

i cant wait to have all mine straight paid for in FEB. I pretty much have decided never to use the d*** things again!

 

[Eds01Lightning]

I must be the only person in the country who pays their CC bill off every month.

Add one more!!:beer:

 

[Vigilante]

Add one more!!:beer:

We're an endangered breed.

 

[Robert Francis]

Add "one more" to paying their CC bill of every month.

 

[Hmbre97]

<----- only uses his debit card