[TAG] The Public Domain: Here Today, Gone Tomorrow
Thu Sep 8 20:06:19 MSD 2005
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.
>>> maximum credit cards can charge here is 18%. But if they're talking
>>> and APR, that's different than I was talking about. I was talking
>>> 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
>> purchase, I assumed you knew what that meant, though I will admit I was
>> to say "they're not calling it 'hire purchase' anymore", it quite simply
>> 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>
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