Subject:
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Re: questions on current events
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Tue, 18 Dec 2001 17:16:51 GMT
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Viewed:
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407 times
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You've pretty much answered your own question, although the creditors would
pay less, they could still charge the same to their own customers.
In lugnet.off-topic.debate, Fredrik Glöckner writes:
> "John Grubber" <jgrubber2000@yahoo.ca> writes:
>
> > 13. Having the nerve to say that its our duty to 'go out and spend'
> > to keep the economy going. Screw that. I am not wasting my money
> > on junk if i don't need to- thats what has made us all debt-ridden
> > credit-card wielding idiots. Why not have some relief on credit
> > card interest rates? Thats an interest rate that would affect most
> > of us a lot more than greenspans token lowering of the fed.
>
>
> But doesn't the federal interest rate affect the interest rate used by
> the credit card companies? I would assume that a cut of the federal
> interest rate would quickly lead to a similar cut of the interest rate
> used by the credit companies. They probably keep their interest rate
> higher, though, to make some money.
>
>
> Fredrik
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Message has 1 Reply:
 | | Re: questions on current events
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| (...) Do you mean that the _difference_ between the federal interest rate and the interest rate charged by the credit card companies is fixed, i.e. that the payment charged for the service remains the same? Or do you mean that the credit card (...) (23 years ago, 18-Dec-01, to lugnet.off-topic.debate)
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Message is in Reply To:
| | Re: questions on current events
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| (...) But doesn't the federal interest rate affect the interest rate used by the credit card companies? I would assume that a cut of the federal interest rate would quickly lead to a similar cut of the interest rate used by the credit companies. (...) (23 years ago, 18-Dec-01, to lugnet.off-topic.debate)
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