Should universal default be illegal? (user search)
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  Should universal default be illegal? (search mode)
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Poll
Question: Should universal default be illegal?
#1
Yes		  
#2
No		  
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Partisan results
Total Voters: 22

Author Topic: Should universal default be illegal?  (Read 2949 times)
Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52
« on: June 13, 2007, 12:48:03 AM »
Why is it being done at all?  I don't understand the logic behind it.
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Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52
« Reply #1 on: June 13, 2007, 12:12:28 PM »
Quote from: WalterMitty on June 13, 2007, 08:32:02 AM
you have to read the fine print before agreeing to take a card.

On that note, I also think that fine print should be illegal. Tongue
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Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52
« Reply #2 on: June 14, 2007, 10:07:39 PM »
Quote from: Jake on June 14, 2007, 12:27:16 PM
Quote from: SoFA Gabu on June 13, 2007, 12:48:03 AM
Why is it being done at all?  I don't understand the logic behind it.

If you default on a payment, you're a bigger risk to default on your other card's payments, and they would raise your interest rates just as they would if you had missed a payment on their card. I don't see the problem. Charge as much as you can comfortably pay, keep your credit fine, and nothing happens.

After thinking about it, it does actually make sense.  Thanks for the explanation.
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