Unfortunately, the Power of the Light is no match for the Dark Side of the Force.
(Search your feelings, you know it is true.)

Father meets son. Death ensues.

Stupid credit card companies and the shit they get away with. You'd be better off borrowing money from a friggin' loan shark.

No you wouldn't. Trust me.

How are those kneecaps healing up, Dana?

Oh y'know...sudden cold weather's fun as always :P

I've lived - and once I'd got back to the world of Normal, worked - in communities where formal lines of credit simply do not exist. There are door to door credit companies operating on the estates in the area I represent, the levels of interest are shocking. These people exist from one £200 loan to the next, and once that credit line is established it is pretty much a permanent fixture.

They are 'legitimate' but their methods aren't always above board. Their agents are self-employed and not vetted. Threats of physical violence are commonplace.

A local largescale landlord got tired of the amount of rent-debt on his books. People were falling behind, not dealing with it and he's left with the choice of evicting them and losing what's owed and the fallow period in between tenants, or letting them run up further debt. He outsourced his debt collection to a private debt collection agency. One guy I know was told if he didn;t come up with £500 by the end of the week someone would come round and "put an axe in [his] missus' cunt".

'Credit' means something very different to the underclass.

CC cos may not threaten you in that particular way, but they do threaten you, and the way they jack up the % rate, even if you are always on time and then miss paying by one day, and get away with charging exhorbitant fees for all kinds of things. It really is a racket. I don't have CCs anymore. I cut mine up years ago. But I've been trying to help a couple of people I know with theirs. One person has been harrassed like you would not believe, and the CC co is wrong about her payments being late or missed. Her bank statements prove it. Do you think they care, or that they have been willing to do anything about reversing the charges and % rate? that would be a resounding NO.

of course not - thats how they make their money. If you pay on time every time and carry no balance then they are LOSING money on you (well me) They are not in the business to lose money.
If you are not making regular payments or are consistently late they are aware that they are probably going to get stuck for all the money they lent you. They jack up the rates hoping to get as much as they can.
I hate it and had it done to me years ago, but thats their justification. Remember, They are not your friends.

No they aren't. My point in comparing them to loan sharks, is that they ARE loan sharks. The practices they use should be illegal.

Charging higher risk borrowers higher rates should be illegal? Calling delinquent borrowers for payment? What exactly are they doing that should be illegal?

If they really are playing outside the lines it should be fairly simple to remedy.

If you go to the supermarket checkout and don't have enough money because you picked up too much stuff, they should lower the prices and throw in some free stuff too... and green stamps. :rolleyes:

That's not what I'm saying. Of course people have a right to collect the money that is owed to them. But CC cos will raise your % rate even if you haven't paid late or missed a payment. They will do it for NO REASON at all. And charging 49.9%? Why would that be legal at all? Regardless of of whether you paid late or not?

Then you, as a quality consumer, have the option to go to another company. Simple solution. FWIW, this has never happened to me. In fact the companies I have dealt with have raised my credit and never has my rate been increased.

Insomnia sucks. I do not deal well with stress.