It's time to bring back usury laws.

[notyoueither]

In one instance I was able to get an emergency student loan from my undergrad to pay rent. If that had not been available, I would have happily taken a loan at 80% APR for a month and a half until I got my first paycheque from my summer job.

... you found an alternative.

There are alternatives for most all people who could get one of these 79% cc's.

The point is the people who do not bother looking, and the harm it will do to a great many of them and their families.

[notyoueither]

You are, you ignoramus. See the post above the one I'm quoting.

****. There are plenty of willing donors even at the reduced price that is currently being paid to donors due to trade barriers in organs.



Learn to ****ing think before you post.

You have lost your grip.

Learn to think, indeed.

[Sparrowhawk]

I think the point is that most of us here (even those living in an alternate Beniverse) are able to calculate out the effective annaul interest rate on these types of loans/credit cards and make sure that we don't pay the absurd interest rates.

Unfortunately there are many people either cannot see it, or are unable to control their own spending to a point to avoid these type of interest rates.

As part of my job I have regularly worked with people who will get a payday loan with crazy interest rates for 6 months, and after 3 months borrow money from another payday loan company to pay it off, and then get another loan from the original company. I help them calculate their interest rate, so they will see how much this borrowing is costing them, and they all nod their heads and agree with me that it is crazy to pay that much interest, yet a month later they are doing the same thing again.

These same people will argue that the 2% increase in pay they are getting doesn't even keep up with the cost of living increase, and demand a 3% increase. I have suggested (and been very unpopular for saying so) that the biggest increase in their monthly disposable income they could ever get would be to stop with the payday loans, yet people are unwilling to do so.

While I too am against government intervention and regulation into our lives and choices, I beleive that government is the only option to save these people from themselves (and untimately to save our entire world wide economy from the "bad credit").

[action=Sparrowhawk][/action]

[notyoueither]

Meanwhile, people in NA die due to a lack of transplants. We refuse to even allow people to will their organs AFTER THEIR DEATH in exchange for payment to their heirs.



Squeamishness disguised as moral principle. Nothing more.

If you can't see why this would be, you are the biggest idiot I have ever encountered.

[KrazyHorse]

... you found an alternative.

There are alternatives for most all people who could get one of these 79% cc's.

The point is the people who do not bother looking, and the harm it will do to a great many of them and their families.

Back on the ignore list for you, ****.

[MRT144]

As for cash discounts, the places 'round here that offer those regularly (computer stores, usually 3% or so) are still expensive compared to if you order computer parts using your credit card from out of province.

If I pay for computer goods from the local store, I have to pay 8% PST...cash or no.

If I order it from Alberta or BC-located stores online, I don't pay any PST...

The only place here that has a good cash discount is an Italian place with very good prices and very good food.

[KrazyHorse]

Mother****er. WTF are you mod/admin of?

[KrazyHorse]

If you can't see why this would be, you are the biggest idiot I have ever encountered.

Can't make a cogent argument, so you fall back on the "it's obvious" line.

[KrazyHorse]

I think the point is that most of us here (even those living in an alternate Beniverse) are able to calculate out the effective annaul interest rate on these types of loans/credit cards and make sure that we don't pay the absurd interest rates.

Unfortunately there are many people either cannot see it, or are unable to control their own spending to a point to avoid these type of interest rates.

As part of my job I have regularly worked with people who will get a payday loan with crazy interest rates for 6 months, and after 3 months borrow money from another payday loan company to pay it off, and then get another loan from the original company. I help them calculate their interest rate, so they will see how much this borrowing is costing them, and they all nod their heads and agree with me that it is crazy to pay that much interest, yet a month later they are doing the same thing again.

These same people will argue that the 2% increase in pay they are getting doesn't even keep up with the cost of living increase, and demand a 3% increase. I have suggested (and been very unpopular for saying so) that the biggest increase in their monthly disposable income they could ever get would be to stop with the payday loans, yet people are unwilling to do so.

While I too am against government intervention and regulation into our lives and choices, I beleive that government is the only option to save these people from themselves (and untimately to save our entire world wide economy from the "bad credit").

[action=Sparrowhawk][/action]

So not only are individuals too stupid to figure out what their interest rates are, but now the banks have to be protected from losing money on bad loans to high-risk individuals? Seriously? What ****ing world do you live in where the gov't knows more about banking than banks?

[notyoueither]

It would be obvious, to anyone who could think and who has a feint grasp of morals and the roll of government in society.

[notyoueither]

So not only are individuals too stupid to figure out what their interest rates are, but now the banks have to be protected from losing money on bad loans to high-risk individuals? Seriously? What ****ing world do you live in where the gov't knows more about banking than banks?

Is this a serious question?

[KrazyHorse]

The roll of government? Is that like the bagel of religion?

[KrazyHorse]

Is this a serious question?

It's a rhetorical question.

Look it up.

[DinoDoc]

I pay off my card completely twice a month on my payday so I don't take full advantage of the available days of interest free credit

Why We Spend More Using Credit Versus Cash
You are probably paying more than those credit card rewards are worth

[KrazyHorse]

I use credit instead of cash because I don't like to walk around with more than a certain amount of cash in my pocket due to the risk of loss, and like to minimize the number of trips I make to the bank machine due to inconvenience.

How is that even a serious question? On average I hold ~5$ in cash on me. I make 95+% of my purchases with credit cards.