I totally understand their motives in setting rates. Their goal is make money, and I can't fault them on that. They can force people with poor paying histories or high debt loads to pay higher interest rates. If that's all you're offered, you'll take it. I know the prime rate is down now but I wonder if we're all getting spoiled with these low interest rates. I know I'm trying to save to buy a house and am hoping the rates won't go up to far before I'm ready to buy in the next 2 yrs. Only time will tell I guess. However, I wonder if any of the CC companies ever thought of breaking the mold and offering everyone 0% rates. Even sub-prime candidates. It would carry a lot of risk, but they could take over a lot of balances to collect on. That idea might not pan out well unless bankruptcy laws become more restrictive. If it were totally up to me (and of course, it's not), I would do away with the protection from creditors portion. You borrowed the money, you should pay it back. It's only right. p.s. I'm not an expert on bankruptcy law or proceedings. If I'm wrong, correct me.Thanks.
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