| Author | Message | ||
     Crusty |
Why is it that ten years ago, I could get a credit card that charged only 10 to 14 % interest, and my savings account at ING was paying 5 % interest; now, my credit card charges 23.99 % interest and my Capital One (formerly ING) savings account pays 0.75 % interest? And why is it that in 2000, when I returned to the workforce after my ankle was crushed, even the crappy entry level job I was working at offered Blue Cross Health Insurance for $27.00 /week Now, that same coverage costs over $1200.00 /month? | ||
| Ourdee |
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| Hootowl |
I think he can handle it. You can still get cards with 10-14 percent interest rates. They're charging you near 24% because they can, and you let them. Take your business elsewhere. As for savings account interest...why should they borrow from you at a higher rate than they can borrow from the federal reserve? I'm surprised they pay any interest at all, given that the prime rate is nearly zero. | ||
| Orman1649 |
Healthcare costs balooning and the number of unions on the decline. My union was currently offered a contract "soft freezing" our pensions, pushing more health care costs on to us, and a complete restructure on how raises are calculated. Too bad there isn't a party out there anymore that actually supports the working class. If you aren't filthy rich or a worthless piece of garbage sucking on the tit of the government you don't count. | ||
| Airbozo |
Health care costs suck for sure. Costs enormous amounts more if you don't have it. Seeing the cost breakdowns for even simple drugs (for the hospital) is amazing. This is a good article on drug costs; http://www.nytimes.com/2015/01/15/opinion/why-drug s-cost-so-much.html?_r=0 As for credit cards, my interest is 0% because I never carry a balance (otherwise it would be 10%) and my Credit Union doesn't charge me any yearly fee's. I have a love/hate feeling towards the unions. I see the same issues in the union as I do in politics. Nothing wrong with protecting workers and conditions but I wholly support pay for merit not based on time and service. Just like non union jobs I have had. You want raise? Earn it. Same for my unions dues. You want my dues? Show me you've earned them, otherwise let me negotiate my own benefits and raises. I've never worked for a company that offered a pension (the NAVY doesn't count). Only 401K style plans where they match certain deductions. | ||
| Strokizator |
I'm surprised they pay any interest at all, given that the prime rate is nearly zero. No kidding. When I sold my house last May I needed to temporarily park the proceeds in a savings account while I looked for another place. I got a whopping 0.05% interest. That's a measly 50 bucks on $100,000! It used to be if you had $1 mil in the bank you could retire with a steady income of $60K more per year and never touch the principal. Not no mo'. It's enough to make me feel sorry for millionaires. | ||
| Pwnzor |
Paper money is a sham. Assets and abilities are the only real currency. | ||
| Ourdee |
Crusty, I had a friend  that one day out of the blue got his credit card bill with a huge percentage jump. He called and talked to someone that said that most people didn't complain so the company would raise the rates at random. They lowered his back to what it was because he called them on it. | ||
| Robertl |
Shop around and/or call to see if they will lower it. I found this site: http://www.bankrate.com/credit-cards/low-interest- cards.aspx There was another one I saw but I can't remember it at the moment. Something people often don't realize is 1 missed or late payment can result in all of your credit accounts increasing the interest rate (this is hidden in the fine print). | ||
| Pwnzor |
Yup. Can't be late even 1 time or the whole deal goes to shit | ||
| Robertl |
It was this link I was thinking of: https://www.lendingtree.com/creditcards#!/nav-all/excellent-credit-cards Be careful on the transfer fees but I've taken advantage of a them a few times (when moving or buying a house), when I could get 0-5% for 12-18 months. Still saved hundreds or thousands even after paying a transfer fee. |
