首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Costly—sometimes abusive—credit cards are bleeding millions of borrowers who didn’t know what they were getting into. The bo
Costly—sometimes abusive—credit cards are bleeding millions of borrowers who didn’t know what they were getting into. The bo
admin
2018-05-09
43
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.
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://kaotiyun.com/show/Hh47777K
0
大学英语四级
相关试题推荐
Thereisnodenyingthatstudentsshouldlearnsomethingabouthowcomputerswork,justasweexpectthematleasttounderstand
GPSA)TheGlobalPositioningSystemisa.space-basedtriangulationsystemusingsatellitesandcomputerstomeasurepositi
GPSA)TheGlobalPositioningSystemisa.space-basedtriangulationsystemusingsatellitesandcomputerstomeasurepositi
Doyoufindgettingupinthemorningsodifficultthatit’spainful?Thismightbecalledlaziness,butDr.Kleitmanhasanew【
ANiceCupofTeaTheLegendaryOriginsofTeaA)ThestoryofteabeganinancientChinaover5,000yearsago.Accordingto
Theonlysurvivorofashipwreckwaswasheduponasmall,uninhabitedisland.Heprayed【C1】______forGodtorescuehim,andeve
Theonlysurvivorofashipwreckwaswasheduponasmall,uninhabitedisland.Heprayed【C1】______forGodtorescuehim,andeve
A、Femaleleadersputmoreemphasisonassigningtasks.B、Femaleleadersattachgreaterimportanceonpositiveattitude.C、Malel
随机试题
女性患者,35岁。上颌窦鳞癌同步放化疗后4个月复查,患者鼻腔脓性分泌物较多,食欲不佳。胸部CT示双肺多发小结节,考虑为转移性病变。关于该患者下一步的治疗原则应该是
如果甲公司违约,乙公司提起诉讼,下列不具有管辖权的是()人民法院。下列说法错误的是()。
编制设计任务书属于建设工程项目的()
发生盘亏和毁损的存货,报经批准可转作管理费用的有()。
以下不属于商业银行类型划分方式的是()。
旅行社在与旅游者签订旅游合同时,应当对旅游合同的具体内容做出()的说明。
常用的岗位评价方法有()。
“酸葡萄心理”“甜柠檬效应”属于()防御机制。
古代有一个皇帝命令姓赵、钱、孙、李、周、吴、郑、王的八员大将陪同他外出打猎。经过一番追逐,有一员大将的箭射中了一只鹿,但究竟是哪一员大将射中的谁也不清楚。这时候,皇帝叫大家先不要看箭上刻写的姓氏,而要大家先猜是谁射中的。大将们众说纷纭。赵说:“或
32()是对违法犯罪行为施加影响最普遍、最直接、最及时的力量。
最新回复
(
0
)