As Credit Cards Punish Consumers, Consumers Look to Rent to Own

The U.S. Congress approved a $700 billion bailout in October 2008. Since then, the rent to own industry has shown its positive impact on the nation's economy and consumers. A Marketwire syndicated news outlet reported that the "$700 billion bailout was $7 billion lighter because of rent to own." According to Wong Ulrich, credit card default rates have doubled recently and debit card usage has increased credit card usage for the first time. As a reaction, the credit card industry has targeted their customers to pay for the loss.

Their recent tactics include a fee of up to $199.00 for paying off a credit card, applying a fee for an inactive card and raising interest rates. Congress continues to respond to these tactics. Senator Christopher Dodd recently introduced legislation to freeze interest rates and fees as a result. The rent to own industry continues to attract new customers to its no debt, credit free transaction in these uncertain times when credit is too costly or risky.

The Association of Progressive Rental Organizations (APRO) has spent more than 25 years helping improve the rent to own industry to become one of the most vibrant consumer industries in America. For more information on rent to own, visit www.rtohq.org.