By: uncleknubs

uncleknubs — Sun, 08 Aug 2010 22:16:48 +0000

This new credit card bill is a useless exercise in B.S. politics. These laws
really do nothing to help people with decent credit and decent credit cards.
It will to some extent stop the crooks who offer high interest, crappy deal cards to people who don’t make enough to manage a credit card and be able to pay it off. Otherwise it’s lip service. Here is an idea, regulate the amount of interest a credit card company can charge, set a maximum high of 20%. This way the companies will be less likely to offer cards to those who will only get in debt with no way out and and end up paying 30% + interest payments, not including penalties. Instead of the 60 day no hike law make a 3 time and your out law. Let people be up to one month behind 3 times in a year period, with no interest hikes allowed, and then close their account, letting them pay off the balance owed at the original assigned rate with no chance of them charging more on it. In other words make laws that make sense that help people manage and stay out of debt they can’t pay, and stop codling the companies capitalistic robberies, they make enough without hiking interest rates. Besides with the newer bankruptcy laws they have a better than average chance of not being shafted like in the past.

By: Credit Cards

Credit Cards — Thu, 17 Jun 2010 16:00:03 +0000

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Comments on: New Credit Card Legislation Goes into Effect in February 2010

By: uncleknubs

By: Credit Cards