some of the loan companies my sister use are worse.
refusing to supply statements
increasing monthly payments on a whim, and then going to court if refused claiming default
I am trying to do a final settlement with one of them and they are actively refusing to supply final settlement figure, they just want the monthly payments to go on for infinity instead.
At least the poor subprime cards still follow basic financial regulations, and even poor cards offer the 60 day interest free purchases.
Ultimately the entire credit financial system will always hurt the less well off more, as hey charge based on the perceived risk level, someone with low income, poor credit history and tight finances is likely only going to get credit at ridiculous terms. I agree it can be considered not fair, but credit cards are not alone in this. Even reputable banks have been known to supply loans at over 30% APR.