[TAG] The Public Domain: Here Today, Gone Tomorrow

[mso@oz.net]

John Karns wrote:
> On Mon, 5 Sep 2005, Jimmy O'Regan wrote:
>
>> Mike Orr wrote:
>>
>>> 22.9% interest?  That's even worse than putting it on a credit card.
>>> The
>>> maximum credit cards can charge here is 18%.  But if they're talking
>>> loans
>>> and APR, that's different than I was talking about.  I was talking
>>> about
>>> something more like a subscription.
>>
>> I don't have a credit card, so I can't say for sure, but I think that
>> rate is
>> roughly on par with credit card charges here. I did mention that it was
>> hire
>> purchase, I assumed you knew what that meant, though I will admit I was
>> wrong
>> to say "they're not calling it 'hire purchase' anymore", it quite simply
>> *is*
>> a loan.
>
> ISTR reading the fine print on one of the credit card offer mailings I
> received not too long ago, and noticed that the rate was somewhere
> around 22%, so I don't think that the 18% rate is universally applicable
> in the U.S. anymore either.

It may have gone up.

Ironic they'd be raising rates when the prime rate has been at a historic
low the past two years.  Oh, but we have a Congress that tightened
restrictions on bankrupcy filings for poor people while not affecting
corporate bankrupcies.  At least they're consistent.

-- 
-- Mike Orr <mso at oz.net>