As you read this, your government representatives are busily trying to push through debt relief for poorer nations at the G8 conference. In the meantime, retailers like Sears Canada continue to nail the poorer members of our nation with 23.15% (and higher) interest rates on their borrowing.
That’s kind of a double insult. You’re so heavily taxed that you have to put that new refrigerator on your credit card, and in the meantime your taxes are being given away to someone in another country. Oh, and the monster Annual Percentage Rates on your credit cards are just icing on the cake.
Whatever happened to charity beginning at home?
(Not that I want the government to start regulating credit card rates, it’s just hard not to notice how little the Libs care for the plight of the poor they have helped create in their own country.)
I was wondering if I was the only one noticing that particular irony. While I think that debt-relief for nations struggling to the extent that the African ones are is a good idea, I’d like to see our gov’t focus on Canadians needs.
10 to 1 Martin calls this latest move part of the NDP budget (foreign aid).
This may save you some real money over time.
We well-off Canadians are so busy having a good time, we forget to take a few moments to telephone the credit card company and say something like. *My credit rating is excellent and has been excellent for a long time. I have a history of regular payment with your company and I would like the interest rate reduced please, to match my other credit card.*
This always works for me. It will work for you.
I don’t want to be sued here by Sears or the Bay, so I will not tell you what to do. I will tell you what I did a long time ago. Those cards have an outrageous interest rate so I cut mine into small pieces with the scissors.
Why pay 28% or 18% interest rates when with a normal credit rating you could be paying around 9% [ nine percent.]
Credit firms using MasterCharge like Capital One or MBNA are competitive, but any credit card is like a high-performance race car. You must keep your foot light on the gas.
Do you know of a competing card firm who delivers at under 9%?
Yeah, I know, there is some scot in my heritage, no doubt. 73s TG
If people are dumb enough not to pay on the 364th day on the “don’t pay for 12 months” deal, then they should pay the interest.
Why not mention the ‘Payday Loan’ companies, whose unregulated interest rates would make the Mafia blush. (The fact that these vultures are permitted to exist, is a disgrace to the slime who run this country.)
Damn, you’re good Dave. Why didn’t I make that parallel. Slime business by permit of Slime Governments. 73s TG