Quote:
Originally Posted by BigFish
How do credit cards and utility bills/car payments have anything to do with one another??
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I any world EXCEPT the credit world, they don't, but the credit card industry created this rule that allows them to use ANY OTHER bill that is paid late as reason to jack up interest rates.
Their theory is that if you're late on a car payment, or gas bill, or phone bill then you'll be late on a credit card bill.
I believe it's something like "mutually assumed risk", so that there is the "likelihood" that you "might" be late on a credit card bill "at some point" and that (to them) means the same as "you are NOW late"!
It's assinine, but when they were de-regulated it basically gave them "carte blanche" to do whatever they wanted to us.
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