31% APR

Posted By: Dr. Frugal in Credit on 11/03/2007 at 08:35:56

Are you kidding· No, that is what one of my co-workers is paying on his credit card. Yes, his credit is really bad but still. Does Mastercard really think someone with bad credit is going to be able to pay back $3k of debt while racking up interest rates over 30%· I can field that one for them--no, no he can't. Honestly, I don't even understand why people with that bad of credit are allowed to get credit cards. Apparently some of them must pay it back or else banks wouldn't let them but for me, it's a total disconnect. If someone can't pay for something, how on Earth is it expected that they can pay for EVEN MORE·

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