>>>>>>>We're subsidizing deadbeats in housing on the backs of the responsible, why should credit cards be any different?
>>>>>>
>>>>>>Looked at another way the 'deadbeats' are subsidising you (and me): The credit card companies can only afford to give us free credit by gouging those who cannot pay in full with almost extortionate interest rates. Why would it not be fairer if everyone who used a credit card was charged a reasonable lower rate of interest from the time the purchase was made?
>>>>>>
>>>>>
>>>>>The credit card industry is already pushing back hard against President Obama's threats to try to eliminate gouging. Gouging is exactly what they want to do. Bend over and grab your ankles, folks....
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>>>>Sure. When the industry complies with Obama call and charge everyone with 'reasonable' charge then if will be another Big Business gouging of innocents.
>>>
>>>I don't think that's what Obama was suggesting. He was talking about a cap at something like 15%. Not so bad for the banks when their cost of money is, what, 2%?
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>>Don't they get money free by another Obama largesse? Btw, the same 'fairness' question to you: would you like to use credit card if interest charged from the time the purchase was made?
>
>I'll give that some thought when it is proposed. I am a completely unprofitable credit card customer, paying the balance every month.

It was Viv's proposal, actually, for the fairness sake. Otherwise, it is a freeloading on the back of the gouged victims. Not nice.