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
2020-01-09
28
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/uFp7777K
0
大学英语四级
相关试题推荐
Themassmediaisabigpartofourculture,yetitcanalsobeahelper,adviserandteachertoouryounggeneration.Themass
A、Thetrendofclimatechangecanbereversed.B、Thesea-levelriseisalineartrend.C、Therisingsealevelislargelycaused
Cuttingtoxiclevelsofcityairpollutiontosaferlevelsissimple,butnoteasy—itrequiresresolve.Yet,despitethekeycul
CorporateAmbitions:Amazon,theWorld’sMostRemarkableFirm,IsJustGettingStartedA)Amazonisanextraordinarycompany.Th
CorporateAmbitions:Amazon,theWorld’sMostRemarkableFirm,IsJustGettingStartedA)Amazonisanextraordinarycompany.Th
秦朝是第一个统一(unify)中国的朝代。秦始皇作为中国的首个皇帝而被人们所记住。他以绝对的权威进行无情的统治,甚至破坏了与他的理念不一致的古代惯例和文学。虽然秦朝只持续了15年,但它对于中国文化的影响是巨大的。它引入了封建制度(feudalsystem
Couldthereasonfortheworld’seconomicmisfortunesallcomedowntofingerlength?Althoughcertainlyanoversimplificationo
Threekeyfactsaboutrisingsealevelsneedtobepointedouttotheworld’spoliticiansandplanners:sea-levelriseisnowin
随机试题
政党的首要任务是______。
陈旧性蛛网膜下腔出血的脑脊液常呈
建立变量X、Y间的直线回归方程,回归系数的绝对值|b|越大,说明()。
税款的退还和追征制度是税款征收制度的重要组成部分,下列表述正确的有()。
决定一个国家汇率制度的主要因素包括()。
薪酬水平一般的企业应注意()点处的薪酬水平。(2007年5月二级真题)(2005年5月三级真题)(2004年11月三级真题)
【2015辽宁特岗】提出学习“顿悟说”的学者是罗杰斯。()
有人说,民主就像一个旋转的陀螺,重要的是旋转的过程。离开了这个过程,民主的陀螺就会倒下。就民主决策而言,正确的决策结果自然会给人们带来希望和信心,而决策的过程,对人们凝聚信心的影响更大。这段文字中的比喻意在强调:
宋代最终完成了编敕的刑法化,使编敕成为一部新刑法的是()。
祖国统一是中国历史发展的主流和中华民族根本利益所在,体现在()
最新回复
(
0
)