Tuesday, 16 February 2010

CREDIT CARD INTEREST RATES AT 12 YEAR HIGH-WHY IS IT ALLOWED?



Millions of borrowers are facing “crippling” debts after banks put up interest rates on credit cards to a 12 year high, it can be disclosed by DL tonight.

The cost of paying on plastic has gone up by more than a quarter in just four years, new figures show. Almost seven million card holders saw their rates increase over the last year.  The average rate of interest has now climbed to 18.8 per cent, the highest since 1998, with some card holders being forced to pay as much as 46 per cent in interest.
 
Sorry, I don't understand why when most of us are struggling to pay off our debts and the interest rate is 0.5%, why the Banks which we mostly own are getting away with what amounts to LOANSHARKING!  How is the country ever to get out of a recession when no-one is spending money because they are getting squeezed by these BANKING BASTARDS, who then pay themselves huge BONUSES.

Unless of course it is an ESTABLISHMENT PLOT to keep the GENERAL POPULATION DOWN while the NEW WORLD ORDER gets richer?

6 comments:

banned said...

So why isn't the market correcting itself? You might have thought that some thrusting young financiers might have spotted the niche market for those of us who prefer to pay less interest?

Actually I don't give a shit since I don't owe anybody anything, having painfully paid off all my plastic some years ago and retain just one debit card to enable online purchasing.

www.mycashplus.co.uk
Interest charges = 0.

Dark Lochnagar said...

Banned, well done I wish I was in the same boat. I pay out a fortune each month to pay the interest only. I should really have gone bankrupt but I am too 'old school' if you know what I mean.

an indignant self righteous person said...

Maybe it will encourage people to save up and buy things rather than borrowing all the time. I've gone without things while friends have bought on the never never.

Dark Lochnagar said...

Indignant self righteous prick- I'm sure you will die a happy if unfulfilled person.

an indignant self righteous person said...

Yes I do believe i will.

Dark Lochnagar said...

Indignant self righteous person, just taking the piss. Don't go in the huff! ;-)