Marko Kloos
Inactive
If anyone could point me to a credit card company that extends credit at a reasonable rate (and not just a 6 month teaser rate) I would be happy to follow a link and educate myself.
"Reasonable" being the operative word here.
Well, who defines "reasonable"? You?
None of our credit cards have APRs even close to 10%, let alone 30%.
But even if none of the credit card companies out there offered any cards at less than 30% APR--nobody's forcing you to borrow money from them.
It's not as if many people here are going to advocate taxing me more so that your neighbor can make his house payment; but it might be best (for them, and you) if banks weren't willing to loan them money for houses they can't actually afford and encourage them to do so by offering teaser rates even though they don't understand that in a couple short years they'll be in real trouble.
And if banks actually stopped lending to the subprime market (which is where all those "predatory" APRs can be found--with borrowers that have proven through their consumer behavior that it's risky to loan them money), then people like you would be first in line to say how unfair it is that these folks are excluded from the real estate and consumer markets, and how we maybe need to make sure that banks need to loan cash to everyone at the same "reasonable" interest rate, regardless of whether they have history of paying their bills or defaulting on them.