Superannuated Ski Bum

Bad Mortgages Are Only the Beginning

Maybe it's time for the Credit Card companies to immediately lower all the interest rates to something more in tune with reality - say from up around 30% to something more reasonable, maybe around 3%. Of course they wouldn't be gouging the consumer at the rate they are now, but perhaps charging a lower interest rate would be better than the loss of the whole amount? They've been screwing us with obscenely high interest rates for years. I can't whip up a lot of sympathy for their plight. All they need is for one company to lead the way and say, "In light of the current economic situation we are immediately reducing the interest rates on all existing and future credit card debt to 3%."