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?