Comments on: When banks try to defend credit cards http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: william http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-9109 Tue, 24 Nov 2009 23:35:26 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-9109 WHAT IS CURRENTLY HAPPENING ON THE “HILL” REGARDING CREDIT CARDS?

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By: fassd.com http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-4616 Sun, 26 Jul 2009 09:27:59 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-4616 Most high interest credit cards are usually easy to get and really the interest rate only matters if you roll over your balances from month to month. People that have had bankruptcies, judgments or just have a bad credit rating, for what ever reason are the most common applicants for high interest credit cards.

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By: Squeezie http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1564 Tue, 12 May 2009 17:04:10 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1564 Dear Marc,

when you say “Maybe the government should stop trying to save irresponsible people (banks, car makers, etc.) at the expense of responsible people” I think you are missing the point.

Banks assume almost NO RISK when they lend to irresponsible parties – the risk and cost is spread across responsible people through bankruptcy court proceedings.

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By: Enlightenment http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1562 Tue, 12 May 2009 16:53:39 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1562 If you abuse your credit cards, then you get what you deserve, plus more!

We call need to be protected against some of the mean things that credit card companies pull on us.

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By: tom brown http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1558 Tue, 12 May 2009 16:01:00 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1558 Felix, you obviously dont know anything about my career history if you think i am a “reliable shill”. The facts are Felix that credit card interest rates in absolute and relative terms came down as a result of competition over the 20 years. If you are going to question someone’s facts you should know the right answer.

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By: Ryan http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1557 Tue, 12 May 2009 15:39:47 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1557 Two points: the government shouldn’t be trying to influence who gets credit and who doesn’t…that is up to the individuals seeking the credit and the people extending it (in this case, banks and credit card companies). Less credit cards may be a good thing, but it isn’t the place of the government to make that happen.

Also, you said “the more interest that banks charge, the more money they make, and the less money that consumers have left over.” This completely ignores COMPETITION. If your statement was true, then all credit card companies would charge astronomically high interest rates. Rates may be high, but companies have to compete for the most attractive rate possible, and that means LOWERING rates. True, banks want higher rates where they can get them, so there is an equilibrium between what consumers and banks are willing to accept. If rates are high it is because banks feel that the risk of lower rates is too high, or the return from lower rates isn’t enough to make it worth the bank’s while to extend credit.

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By: Credit Crooks http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1556 Tue, 12 May 2009 14:52:30 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1556 Marc: The biggest “loan sharks” out there are the predatory big banks behind these unscrupulous credit card practices that are designed to rip off consumers. Oh, and in case you forgot, these are the same big banks that we the tax payers recently bailed out to the tune of several hundred billion dollars!

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By: joyce stillman http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1554 Tue, 12 May 2009 14:45:58 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1554 Marc:
Loan shark practices hurt everybody, not just “irresponsible people.”

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By: Marc http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/comment-page-1/#comment-1551 Tue, 12 May 2009 13:42:34 +0000 http://blogs.reuters.com/felix-salmon/2009/05/12/when-banks-try-to-defend-credit-cards/#comment-1551 If they can’t get a credit card, will they go to a pay loan company, not if the government can “fix” that too.

What does that leave them? Go without or a loan shark.

I am sure that is better than alternative.

Maybe the government should stop trying to save irresponsible people (banks, car makers, etc.) at the expense of responsible people.

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