On Tue, 20 Mar 2001, Jeff Bone wrote:
> No, there should just be one rule in place: if a consumer is given a credit
> card, unsolicited, and the consumer runs it up, then the credit card company
> eats it. Guaranteed that would suffice to eliminate entirely the glut of
> insane consumer credit.
We have a problem of definitions here. When a credit card company "gives"
someone a card, we either mean: 1) company sends person an invitation,
possibly "pre-approved", or 2) company sends person an actual card, and
opens an account for them.
I have never heard of a credit card company "giving" a card to someone who
did not ask for it. You have to sign somewhere saying you accept the
terms. That kid who got a $5,000-limit card filled out and signed an
application (he lied about his income).
This archive was generated by hypermail 2b29 : Fri Apr 27 2001 - 23:14:29 PDT