@Tfmonkey and world.
So i just saw that, the Biden-Harris administration is proposing a rule to cut credit card late fee from $31 to $8.
your thoughts?
Interest rates and application denials will rise to compensate, and they might learn a new way to gouge us, too.
@mikejackmin @RodrickSage They will definitely raise interest rates, which actually haven't gone up with inflation.
credit card rates were between 18%-22% before the inflation, and they're still within that range now.
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you know, it's funny, it's as if, they want to whip the masses credit lol " we will lower you monthly payment and punishment if late BUT!, you will forever owe us money ".
