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Posted on 5/9/19 at 2:42 pm to HailHailtoMichigan!
In other news, credit card application rejection rates hit all time highs.
Posted on 5/9/19 at 2:43 pm to Ag Zwin
I'm not serious, but they love the holder that carries a balance and pays less than the full balance.They love the borrower who carries a 2000.00 balance an pays 200.00 month...7.5% interest. The merchant biz does well for them but those fees might net them at most 2.5- 3.0 percent if my calculations on the fee I pay every month are indicative. Of course its a large number overall.
Posted on 5/9/19 at 2:46 pm to HailHailtoMichigan!
Hell yeah, time to open the Pay Day Check Cashing Bidness 
Thanks Bernie and AOC
Thanks Bernie and AOCThis post was edited on 5/9/19 at 2:47 pm
Posted on 5/9/19 at 2:48 pm to HailHailtoMichigan!
quote:Socialists are so amazingly stupid when it comes to business or economics.
Bernie and AOC introduce bill capping credit card interest rates/ payday loans at 15%
quote:
“The American people are sick and tired of being ripped off by the same financial institutions that they bailed out ten years ago,” the pair said in a joint statement.
Congrats morons. If your bill passed, they would no longer be "ripped off" because they'd non longer get the loans at all.
fricking idiots
Posted on 5/9/19 at 2:48 pm to HailHailtoMichigan!
Good News everyone!!
AOC and Bernie have another splendid idea. Not-for-profit banks - preferably through the United States Postal Service.
LINK #1 - twitter video
LINK #2 - twitter video
Remember, how Trump was an incompetent businessman for "losing" a billion dollars over a decade? The USPS lost $3.9 BILLION in 2018; an increase of $1.2 billion more than 2017. Source
They want them to provide financial services. Think of the convenience. Think of how safe your money will be in their hands.
AOC and Bernie have another splendid idea. Not-for-profit banks - preferably through the United States Postal Service.
LINK #1 - twitter video
LINK #2 - twitter video
Remember, how Trump was an incompetent businessman for "losing" a billion dollars over a decade? The USPS lost $3.9 BILLION in 2018; an increase of $1.2 billion more than 2017. Source
They want them to provide financial services. Think of the convenience. Think of how safe your money will be in their hands.
Posted on 5/9/19 at 2:48 pm to CelticDog
quote:Well that's a post by a moron.
Are you suggesting 15% is not enough to cover gambling on poor cardholders. Lol.
Posted on 5/9/19 at 2:50 pm to CelticDog
quote:Capitalism will be fine. They just won't issue the cards or loans.
Because 15% is a hardship for capitalism to bear, eh?
You can't be this stupid
Posted on 5/9/19 at 2:52 pm to Bjorn Cyborg
quote:
That’s a good way for those people to end up without credit cards or payday loans.
Pretty much.
Hey how about teaching kids in school about mommies 3 credit cards and not mommies 3 lbgtqxyz friends
Posted on 5/9/19 at 3:00 pm to HailHailtoMichigan!
Sounds great now only people that should qualify for credit will get it.
ETA More likely this will bring about more legislation that says minorities can't be denied a certain amount of credit with a score over 400 or some ridiculous shite like that.
ETA More likely this will bring about more legislation that says minorities can't be denied a certain amount of credit with a score over 400 or some ridiculous shite like that.
This post was edited on 5/9/19 at 3:19 pm
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