Canadian banks offer reduced credit card interest rates

titaniumtux wrote: ↑ Meh. Banks listened to PM. Sure, great that they dropped interest to 10.9% (from 20+%) for a few months, but this only further enables those who are not responsible with their finances...those who carry a balance can move CC balance to uLOC, run after BT offers, or product switch to a low interest card, if nothing else.

titaniumtux wrote: ↑ Meh. Banks listened to PM. Sure, great that they dropped interest to 10.9% (from 20+%) for a few months, but this only further enables those who are not responsible with their finances...those who carry a balance can move CC balance to uLOC, run after BT offers, or product switch to a low interest card, if nothing else.

choclover wrote: ↑ The banks are cutting the rate because the rate cut doesn't really impact them in a meaningful way OR they will just increase their revenue somewhere else.

Kiraly wrote: ↑ Good move. I'm lucky in that I don't need lowered rates,

Cheapmaestro wrote: ↑ "My God can you imagine being poor? Like seriously, do these people even have assets? Like I'm here and I have to drink prosecco instead of champagne, these plebs don't know real suffering like me, why didn't they just NOT GET LAID OFF if they're so smart?"

* 70% of Canadians dont carry a balance but a huge number of our populace can't even maintain basic subsistence living. Imagine telling people earning $15 an hour in downtown Toronto who are paying $1200 rent due to landlord gougers and AirBNB "just cut out anything fun in your life, bro, I should know, I have an entire portfolio of stocks I got with my high-paying high-security white collar job. Enjoy your serfdom, peasant, brb, applying for another 3 cards"

ROYinTO wrote: ↑ I don't need it. But hey, every little bit helps.

SaskCanesFan wrote: ↑ Somebody call the waaahhhmbulance. "I don't want to make sacrifices in my life, I want to go to movies, eat out, shop at malls, and live in a ridiculously overpriced city, even though I know full well my job can't sustain it here. No, I won't even think of moving somewhere that the cost of living is much cheaper, or buying second hand clothes, bulk food and cooking exclusively at home. Its credit card companies fault that I bought things with money I didn't even have, I just need to sustain a certain standard of living. Making sacrifices in life is HARD, making excuses and blaming banks and the system that screws me is so much easier!"

titaniumtux wrote: ↑ Duplicate thread, see canadian-banks-offer-reduced-credit-car ... s-2366126/

coolintheshade wrote: ↑ ... RBC says they’ll lower rates for those that have applied for deferred payments and after a financial review by an advisor.
No idea what that means, I’m just glad none of this affects me until the government shuts down essential businesses as well, which I don’t see happening.