首页
登录
职称英语
Costly—sometimes abusive—credit cards are bleeding millions of borrowers who
Costly—sometimes abusive—credit cards are bleeding millions of borrowers who
游客
2024-01-31
16
管理
问题
Costly—sometimes abusive—credit cards are bleeding millions of borrowers who didn’t know what they were getting into.
The bottom-feeding cards—for people with damaged credit—offer you a decent interest rate on credit lines "up to" $3,000. When the card arrives, however, your line might be only $250. And then come the fees! They’re charged to your tiny credit line, leaving you almost nothing to spend.
Two better-known card issuers with a big loan business are Capital One and HSBC’s Orchard Bank. They charge lower upfront fees than other cards do. But if you fall behind, it’s tough. Cap One’s penalty rate is currently 28.15 percent. Orchard Bank doesn’t disclose its penalty rate online and wouldn’t tell you what it is. Cap One has a reputation for issuing multiple cards to people who bump up against their credit limits. That gives them two cards, with two low limits, to overspend.
Lenders have figured out many ways of extracting fees. There’s "universal default", where a late payment on one card can trigger high penalty rates on every card you own. There’s the "endless late fee", where your payments never catch up with the new penalties you’re charged. There’s "two-cycle billing"—too complicated to explain here, but which amounts to charging interest on balances that you’ve already paid. And "retroactive (追溯的) price hikes," where banks impose higher rates on old balances as well as new ones.
These practices startle consumers who think such high fees and interest rates must be against the law. But the Supreme Court effectively deregulated credit card rates 30 years ago, and 10 years ago it deregulated the size of the fees a bank could charge. Prior to fee deregulation, late fees hovered between $13 and $15, says Robert McKinley of CardWeb.com, which tracks the business. Now they run from $30 to $40. "It’s out of control," he says. "Banks know they’ve pushed this too far."
This year, however, the new Congress started holding hearings. Suddenly Citi dropped universal default and JPMorgan Chase ended two-cycle billing. But those are just gestures. Without fee caps or laws restricting the usually high rate of interest, we’re in the bankers’ hands. [br] What does the author think about the "multiple cards" practice of Cap One?
选项
A、The bank may have more bad debts.
B、The bank may become more popular.
C、Borrowers may have their credit limits increased.
D、Borrowers may fall into a multiple-penalty trap.
答案
D
解析
第3段前三句表明Cap One开卡的费用很优惠,但是一旦不能按期还款,受到的处罚会很重。再看本段最后两句,Cap One向消费达到其信用额度的人发多张卡,这些人本身信用额度低,但拥有了多张卡后更容易超支了,超支后还款的能力又不强,这时Cap One就可以对他们罚款,从中赚取费用,由此可确定应选D。
转载请注明原文地址:https://tihaiku.com/zcyy/3408399.html
相关试题推荐
[originaltext]Proverbs,sometimescalledsayings,areexamplesoffolkwisd
[originaltext]Proverbs,sometimescalledsayings,areexamplesoffolkwisd
[originaltext]TheUnitedStates’jobmarkethasmillionsofunfilledjobs.
Researchershaveidentified1.4millionanimalspeciessofar—andmillionsr
Researchershaveidentified1.4millionanimalspeciessofar—andmillionsr
Researchershaveidentified1.4millionanimalspeciessofar—andmillionsr
Researchershaveidentified1.4millionanimalspeciessofar—andmillionsr
[originaltext]Areyousometimesalittletiredandsleepyintheearlyafte
[originaltext]Areyousometimesalittletiredandsleepyintheearlyafte
[originaltext]Areyousometimesalittletiredandsleepyintheearlyafte
随机试题
MuhammadAli,hishandsshakingandeyesreflectingtheWhiteHousechandeli
被誉为“古典芭蕾巅峰之作”的芭蕾舞剧是:()A.《天鹅湖》 B.《睡美人》
按照《宿舍建筑设计规范》的规定,宿舍安全出口门设置正确的是( )。A.不应设置
在某地进行男性吸烟与膀脱癌关系的研究,资料如下:吸烟组膀胱癌发病率为48.0/1
A.表证 B.热证 C.实证 D.虚证 E.寒证胸腹胀满,按之疼痛,腹满
正常情况下肾小球的滤过分数(FF)约为A.0.01B.0.1C.0.19D.0.
吗啡与哌替啶比较,叙述错误的是A.吗啡的镇咳作用较哌替啶强B.等效量时,吗啡的呼
同一劳动在同一时间内.当部门劳动生产率提高时会使( ) A.单位商品的价值量
热淋而有小便短数,灼热刺痛,尿色黄赤,少腹拘挛胀痛,脉濡数者。治宜选用A.八正散
(2021年真题)假定某客户投资70万元于某理财产品,该产品年收益率为10%,按
最新回复
(
0
)