paul
|
To subsidise people like me who get interest-free credit by always paying the full amount at the end of the month. |
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Frank Castle
 |
Supply and Demand. |
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pennstatepomo
|
1) because they will charge as much as they can legally
AND
2) because you the consumer lets them. If you call your credit card co and tell them you think the rate is too high, you may just get a couple points knocked off. If your credit is anywhere decent, you are probably getting between two and two dozen offers per day for new credit cards. Your friends at Visa or AMEX don't want to lose your vig so they'll do what it takes to keep you.
so, for most people, the answer to the question is that they are too lazy, uninformed or apathetic to get a lower rate of interest. |
|
homeschoolmom
 |
How do you think the bank makes the money to pay its' employees and that pittance they offer you in interest for a savings account?
I haven't had a credit card in years and it hasn't hurt me one bit. I use my debit/credit card for everything I would have used the credit card for. |
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tnkumar1
|
They take a lot of risk in lending you the credit without having any collateral and this is the reason they charge so much of interest. |
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James Bond
 |
that's why i don't have any of them. |
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5150
|
The interest is figured monthly, versus annualy. Thats one reason. The second reason is because they can, and noone stops them.
The bankruotcy laws heavily favor CC companies now. See where all your money went? Straight into the lobbyist pockets to pass laws!
God Bless America ! |
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hari_gvnd
|
Its simple................Its because the bank needs money. |
|
rose r
|
cause they are thieves |
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Ñina
|
cause they want your money |
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xx_muggles_xx
|
bad credit |
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daisy5263
|
You won't get charged any if you pay them off every month!
A little trick if you have 2 credit cards..
Borrow from one, topay the other, before the month is up on both... Never pay any credit change..
Credit card companies are a legalized loan shark organization... |
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Ronnie
|
That is how the bank earn in giving you credit cards. If you don't pay your debts in your credit card the bank will be the one to pay for that. |
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yeaitsme000
|
Interest rates are usually determined by your credit score.. The higher your credit rating the lower the interest rate..that goes with financing a car or a mortgage. Also for credit cards if you do have a low rate but miss a payment or 2 .. your rate will go up drastically. |
|
Dream Builder
|
Because they can?
Get rid of your cards. |
|
rlp
|
1bcoz u kind r mad |
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