Credit Card Forum
  1. #11
    Floppster
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    Quote Originally Posted by fffresh View Post
    The Fed is expected to lower the rate this week by 75 or 100 basis points. Since nearly all credit cards rates are based on the prime rate this is a good thing which should mean rates by ethical credit cards will automatically be lowered by 0.75% to 1% one or two months from now.
    Honestly Fresh, do you really expect credit card companies to lower rates in the current economic situation ? I care what the Fed says/does however I doubt that there is just one CC Company lowering rates.
    Intellectuals solve problems. Geniuses prevent them.
    - Albert Einstein 1879-1955
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    Reply With Quote Reply With Quote     Oct 28, 08, 6:03 pm
  2. #12
    jhudson
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    I agree that rates should be lowered to if they are excessive. 25%? Excessive. 10%? Reasonable. For the cards that are charging, say 18% and up need to have a cap on their rates and brought down even in this economic situation. I'm lucky that I don't have any high rates on my cards now but if they were to go up I would cancel them without a thought. When regular purchase rates get to be 25% and 30% that is usury.
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    Reply With Quote Reply With Quote     Nov 19, 08, 9:45 pm
  3. #13
    vest
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    Hi,
    I'm also looking for a deal like that. If you ever find one, let me know.

    vest
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    Reply With Quote Reply With Quote     Nov 28, 08, 2:58 pm
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