@SteveSoCal wrote:
I definitely lean toward them being predatory, but then aren't all banks? Most of those credit cards have tiered interest rates that gouge those with poor credit.
The questions is; Where do you draw the line for MSing...in terms of ethics? The credit card shops at amusement park are almost always the predatory cards as well. Will you take those?
I personally have an issue with the giant cola companies forcing their product on the world, and refuse to take the reward shops where an employee gets rewarded for pushing a larger size....but then bartenders get rewarded for refills on a glass of wine as well, and I do those shops. The majority of the products we ensure are being marketed well are not necessarily there for the benefit of society. Is it really important that someone get a 1,000 calorie sandwich in under 90 seconds? (I'm guessing at the sandwich timing requirements since I also refuse to do those shops)
As long as you meet your agreement with a bank or credit card, there are mostly no extra fees or charges, or there are options to avoid fees. If anything, responsible usage of credit cards can only BENEFIT the consumer.
As for payday loans? Along with the absurd interest rates, this serves absolutely NO purpose aside from targeting the 'high risk' demographic and profiting PURELY on that. Banks profit from opening accounts and other ways from bringing in revenue aside from just fees. Same with credit cards, as simply using it, the merchant gets charged a fee to bring in the credit card issuers revenue; not just consumer fees and interest.
So no, I don't see banks or credit cards anywhere near the same playing field as payday loans. Same with junk food, alcohol, etc. In
moderation, it does NOT do harm to the body; whereas,
ANY use of payday loans do absolute nothing but prey on the high risk.
Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 33 year old male and willing to travel!