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SVTPerformance's Chain of Restaurants
Road Side Pub
Universal Default
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<blockquote data-quote="Grey03Cobra" data-source="post: 7585745" data-attributes="member: 8785"><p>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.</p><p></p><p>Too bad common sense can't dictate these types of economic things instead of greed.</p></blockquote><p></p>
[QUOTE="Grey03Cobra, post: 7585745, member: 8785"] 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. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Universal Default
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