Credit Card Suggestions
Oct 21 2008, 8:33 PM EDT
| Post edited: Oct 21 2008, 8:33 PM EDT
If consumers have a history of paying all their credit reported accounts on time, and their fico scores are 670 or better, why are credit card companies still allowed to keep interest
rates at 25 to 29.99 percent? I believe credit card companies should have to lower the interest rates without using other excuses such as the number of inquiries on your file, many done without your knowledge or permission, or revolving balances too high. If they would lower the interest rates it would certainly help to lower a consumer's balance.
I think the government should intervene in correcting the abuse of credit card interest rate by demanding the credit card companies charge a reasonable rate for customers in good standing. I think this actions would help consumers get out of credit card debt.
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