[sob727]

If you think the terms are unfair to you, you have the option to not do business with this particular bank. If all banks do the same, have you thought there's a financial reason behind it that you might not be aware of (say, default rate, operational costs, etc).

[iopq]

for people with credit over 800 the default rate must be extremely low

otherwise I wouldn't have this credit rating and the bank wouldn't trust me with over $100,000 credit limit combined over all of my credit cards

the reason I agree to this rate is because I never pay it, I loan from my broker instead where I pay like a few bips over LIBOR