Crazy Bernie & Wacky AOC have a brand new plan to cap credit card interest rates at 15%. let's see!

[basquebromance]

Because credit card companies bought Congress & blocked usury laws, Americans will pay $122 BILLION in credit card interest this year. Thats the equivalent of every household funneling $1,000 to Wall Street.

AOC and Sanders call for capping credit card interest rates at 15%

 

[Manonthestreet]

By god they may have stumbled on to something worth while . I usually pay mine off in full, once in awhile I won't so they won't cancel the card.

 

[basquebromance]

i buy 3 audiobooks a week on my card. that's about it

 

[HenryBHough]

If you carry a credit card balance you're stupid.

The interest rate on credit card balances is simply a tax on stupidity.

 

[Carl in Michigan]

If you carry a credit card balance you're stupid.

The interest rate on credit card balances is simply a tax on stupidity.

I'm REALLY stupid

 

[Missouri_Mike]

Because credit card companies bought Congress & blocked usury laws, Americans will pay $122 BILLION in credit card interest this year. Thats the equivalent of every household funneling $1,000 to Wall Street.

AOC and Sanders call for capping credit card interest rates at 15%

Democrats are idiots. Credit cards are loans. If they cap the interest within a year these two morons will be bitching because low credit score people can’t get cards.

 

[Deplorable Yankee]

Because credit card companies bought Congress & blocked usury laws, Americans will pay $122 BILLION in credit card interest this year. Thats the equivalent of every household funneling $1,000 to Wall Street.

AOC and Sanders call for capping credit card interest rates at 15%

im already paying less than 15% on major cards what do i need them for ? these days most youngsters get a free year or 15 months 0%

its called being responsible
i know how novel for democrats

if ya have a good score pick up the phone and bitch they'll give a lower rate.
wanna good score ?pay yer bills on time if ya run shit up on plastic
pay it down fast ,,,or leave them at home!

i have card for audi service thats like ridiculous at 25% or 28% whatever it is
if you dont pay it off in 6 months or a year ...depending how much ya spend
pay it off before hand ZERO % interest

last time i went in its was like $650 ..i had a couple hundred in my wallet OK sign me up for swanky customer service and lets charge the rest .
I got a free umbrella to derp

brakes ...tranny fluid ...which is a sealed system these days ..you cant even check the fluid . to change the tranny fluid they like to let it sit for the morning for some reason they explained to my why i zoned out .

the cars only a 2017 i hit 40 thousand miles i did a major service on it . for something like that i like to bring it in to the dealer
they check every thing even the sunroof
balance and rotate the tires ...the joints ...i needed my driver side back window buttons fixed ...NO problemo no extra charge blah blah blah

they even give it back washed and vacuumed

NO SHAKE NO PULLS Runnin smooth AND SWEET if i put pedal to metal the car will plant ya in the seat ...i LOVE that
why because imma whiteman

i saw it when i was signing the agreement ......28 %
thats the first thing most normal people with a brain do ...whats the interest rate? ...are ya kiddin!...why not just hold me at gunpoint and rob me!
if i dont pay it off on time which i already did ,,,that 28% interest rate is on me ,MYSELF, AND I

but now we're dealing with democrats........blaming wall st for peoples own irresponsibility

WHAT happened to they're private businesses and corporations ? facebook twitter rats?
NO one forced you to sign on that dotted line

card with high credit limits are great for emergencies or spur of the moment shit. i use my amex all the time for everything for points,and free crap .TO THE veterinarian ..im over 30000 ive entered the free flight to somewhere zone ...not that im looking to fly away right now unless it to alpha centuri to get away from the annoying Marxist Nazi leftards

i pay that before the due date and keep a tiny balance
the othesr i use rarely....... like others posters here stated. Just to keep the damn things active.
if you dont use em they'll close your account after a while

young people today they gotta resit just keep a couple for emergencies and what now
keep at 1000 limit or less till yer older and making more dough ..

casue after a few months they send these kids these young adults 3/4 5 thousand dollar cards ...and they turn around and are in debt up to their eyeballs

 

[basquebromance]

break up the big banks! turn the post office into a bank!

 

[basquebromance]

The vast majority of Republicans support Alexandria Ocasio-Cortez and Bernie Sanders' plan to cap credit-card interest rates at 15%

 

[EvilCat Breath]

The vast majority of Republicans support Alexandria Ocasio-Cortez and Bernie Sanders' plan to cap credit-card interest rates at 15%

I can't believe that this many people are that stupid. If there is a cap, only those with an excellent repayment history will be able to get credit cards. The lenders will bring back the need for cosigners.

 

[basquebromance]

If you cap the price of something below the cost of production, then that thing vanishes. No one makes it (who desires to make a loss?) and therefore no one can have it.

It's quite similar to the Venezuelan policy on food prices. Make chicken nice and cheap with a price ceiling so no one can have any.

They're calling this the Loan Shark Prevention Act, something it most definitely isn't. So, people who desire credit (an awful lot of Americans, given that there's about $1 trillion of this card debt out there) can't get it legally because prices have been set so low that there are no providers. What happens next? They'll go get that credit illegally, won't they? That is, this is the Loan Sharks Generation Act.

Quite why Crazy Bernie and Wacky AOC wish to drive a hundred million or so Americans into the clutches of the leg breakers is uncertain. But shouldn't we be getting angry at their blatant shilling for such a despicable industry? For that is what they're doing — price controls on legal and legitimate debt, to the point of its disappearance, just produce good times for the local neighborhood knee-breaker. It's even possible to muse that this might not quite be a useful goal of policy.

 

[Dan Stubbs]

Because credit card companies bought Congress & blocked usury laws, Americans will pay $122 BILLION in credit card interest this year. Thats the equivalent of every household funneling $1,000 to Wall Street.

AOC and Sanders call for capping credit card interest rates at 15%

But I thought she would like them to be free....NO Oh well .

 

[basquebromance]

"We must make it illegal for poor people and those who are otherwise marginalized to have access to credit."