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Old 03-28-2009, 10:09 PM   #3538
sugarpop
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Join Date: Nov 2008
Location: the edge of the abyss
Posts: 1,947
Quote:
Originally Posted by lookout123 View Post
Charging higher risk borrowers higher rates should be illegal? Calling delinquent borrowers for payment? What exactly are they doing that should be illegal?

If they really are playing outside the lines it should be fairly simple to remedy.
That's not what I'm saying. Of course people have a right to collect the money that is owed to them. But CC cos will raise your % rate even if you haven't paid late or missed a payment. They will do it for NO REASON at all. And charging 49.9%? Why would that be legal at all? Regardless of of whether you paid late or not?
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