Feb 15 2012, 11:04 PM
QUOTE(samsungXP @ Feb 15 2012, 12:16 PM)
r u sure can?but some ppl say cant
Some people can't because they have bad track records / bank do not see the why they need to give. It is case by case basis. Go to the bank and ask.Added on February 15, 2012, 11:08 pm
QUOTE(b00n @ Feb 15 2012, 11:01 PM)
If one is a prompt paymaster whom pays in full, then it doesn't matter on the raised interest.
If one is a prompt paymaster whom did not pay full, they might want to start thinking on clearing more of their outstanding to save on interest. Thus why more debts?
If one is not a promot master and occasionally miss payments, then with a higher interest slapped, wouldn't one start to think of saving interest by 1st start paying promptly?
So how does this then translate to more debts?
Anyway, banks only earn interest revenue if one does pay. If one is a defaulter not wanting to pay; then raising interest also does not have impact on him. Banks are also at the losing end.
Indeed, I don't think people understand that the bank do not want to bankrupt people, since it only hurt their own bottom line.If one is a prompt paymaster whom did not pay full, they might want to start thinking on clearing more of their outstanding to save on interest. Thus why more debts?
If one is not a promot master and occasionally miss payments, then with a higher interest slapped, wouldn't one start to think of saving interest by 1st start paying promptly?
So how does this then translate to more debts?
Anyway, banks only earn interest revenue if one does pay. If one is a defaulter not wanting to pay; then raising interest also does not have impact on him. Banks are also at the losing end.
Instead of blaming the banks, one have to look at why you need gazillion credit cards when you can't afford to settle even one and why you still want a credit card when you can't even pay the minimum charges every month.
This post has been edited by fuzzy: Feb 15 2012, 11:08 PM
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