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
2016-09-21
33
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/bjY7777K
0
大学英语四级
相关试题推荐
A、Shedidn’tnoticetheposters.B、Bettyprobablymadetheposters.C、Thecollectiondoesn’tbelongtoMaryAnn.D、MaryAnn’spo
Somepeoplesaythetraditionalcalendarof180daysnolongermeetstheneedsofAmericansociety.Theypointoutthatstudents
Somepeoplesaythetraditionalcalendarof180daysnolongermeetstheneedsofAmericansociety.Theypointoutthatstudents
A、Itisavirusthatcausesgreatdamage.B、ItisavirusthatonceinfectedtheIBM’scomputersystem.C、Itisavirusthatcar
A、Theyinvadethecomputerandmakeitaplaceformanufacturing.B、Theyspreadthroughoutthewholesystembyquicklycopyingt
EndangeredPeoplesA)Today,itisnotdistance,butculturethatseparatesthepeoplesoftheworld.Thecentralquestionofour
WriteacompositionentitledPets.Youshouldwriteatleast120wordsbutnomorethan180wordsaccordingtotheoutlinegiven
Becarefulwhatyousayaroundyourdog.Itmightunderstandmorethanyouthink.AbordercollienamedRicorecognizesthename
A、Heisconfidenthewillgetthejob.B、Hischanceofgettingthejobisslim.C、Itisn’teasytofindaqualifiedsalesmanage
I’vebeenwritingformostofmylife.ThebookWritingWithoutTeachersintroducedmetoonedistinctionandonepracticethat
随机试题
超声波和次声波对我们来说都是听不到的,但却与我们的生活息息相关。下列关于超声波和次声波的说法错误的是()。
建经济制度的主要特征是________。
藻酸盐印模材料中藻酸钾的作用是
A、.免疫功能正常,病毒量少,毒力弱,部分肝细胞受损B、.免疫功能严重缺损,病毒持续繁殖,肝细胞几无损伤C、.免疫功能低下,病毒不能彻底清除,肝细胞不断受损D、.免疫功能正常,病毒量多,毒力强,较多肝细胞受损E、.体液免疫功
A、磷酸伯氨喹B、本芴醇C、磷酸氯喹D、乙胺嘧啶E、青蒿素又名为息疟啶,属于2,4-二氨基嘧啶类抗疟药的是
沉井基础下沉主要通过井孔内除土,消除刃脚正面阻力及沉井壁摩阻力,依靠()下沉。
S在进行存货计价测试时,由于依据样本结果推断总体特征而导致其审计效率低下的风险是( )。统计抽样样本及非统计抽样样本的重要区别是统计抽样样本( )。
“七夕文化”在一定意义上就是家庭文化。牛郎织女的故事中,男女主人公真诚相爱,织女冒着违反天条的罪名与凡人结婚,这种为爱情作出重大牺牲的奉献精神,成就了人间一个美好的家庭。它向人们揭示:爱情不能只是索取,同时也需要奉献;它打破了门第界限,织女作为神,情愿为凡
思维是借助言语实现的。()
Inmanycountriesthereisafixedchargeforpersonalservices.Acertainpercentagemaybeaddedtothebillatahotelorres
最新回复
(
0
)