= 27d567bc2d48d9f40e9ccc20ea370b15)
Blueberry comments on Open Thread: June 2010 - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (651)
Wow, they can jack up the rate like that? I would definitely consider that fraud and abuse. That's not common, however, and Congress recently passed legislation to prevent that sort of abuse. Currently, I don't have the option of not using a credit card; I would starve to death without it.
I thought so too, but then was overwhelmed with stories like that. Most credit cards agreements are written with a clause that says, "we can do whatever we want, and the most you can do to reject the new terms is pay off the entire debt in 15 days". This is one of the few instances where courts will honor a contract that gives one party such open-ended power over the other.
If you haven't been burned this way, it's just a matter of time.
And if you google the topic, I'm sure you'll find enough to satisfy your evidence threshold.
Would you starve to death with it? If you can service the debts, let me loan you the money; at this point, most investors would sell out their mother to get a fraction of the interest rate on their savings that most credit cards charge. (Not that I would, but I'd turn down the offer without my trademark rudeness...)