Back then, when you had a credit card and paid on time, credit card company would be nice to you and wanted your business. Now, it doesn't matter how long you've been with them, if you're not profitable, I mean if you don't use the card often and carry the balance from month to month, credit card companies treat you like dirt.
Everyone has credit card nowaday. Back then it was a priviledge to have a card. Now they hand them out like candies and as soon as you don't make money for them, they will drop you like a hot potato. You can have a great credit score but that doesn't mean you have a good interest rate. I've seen people who have way over 700 score still get a 14% because they never carried the balance.
2007-08-01 12:12:38 · 3 answers · asked by Connie 3 in Business & Finance ➔ Credit
What do you mean they treat you like dirt? It seems to me that if they have a problem with us buying things we can afford and not racking up interest charges, they should come up with a fixed fee we should pay for using it. Oh yeah, and they ALWAYS make money on you if you pay on time . . . merchants have to pay for the privilege of accepting credit cards, and that gets added to the price behind the scenes. Even people who pay cash share this burden, because the store obviously can't openly charge one customer more than another for the same stuff. Good night!
2007-08-01 12:23:48 · answer #1 · answered by anonymous 7 · 2⤊ 1⤋
I never carry a balance and I can't say I've been "treated like dirt". Maybe I've been treated in a merely average way, but I've never had any problems or issues because of this. I couldn't care less about my interest rate because I don't carry a balance. I have other places I can get cheaper money if I really need to borrow it.
But yes, the capitalist culture in the U.S. is such that profit is king. Shareholders demand it. Shareholders don't care about the customers, they just want profit, profit, profit, and short term profit, too. It's sad but I don't think the culture is going to change anytime soon.
Maybe the market will correct if enough 700-scorers get fed up with 14% interest rates and go to competing cards. Won't be me though.
2007-08-01 21:54:29 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes, it's a dog eat dog world nowadays. Make one mistake and you are messed up for life. Also, even getting a job without good credit is a hassle these days. Like a vicious cycle- you need a good job so that you can pay your bills, but you can't get a good job because your credit report has negative entries!
2007-08-01 20:09:01 · answer #3 · answered by dottye7777 2 · 1⤊ 0⤋