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Thread: Senate Passes Bill Curtailing Credit Card Industry

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    Senate Passes Bill Curtailing Credit Card Industry

    You make your payments on time at a 14% interest rate. After the economy goes south, the credit card companies raise your interest rate to 22%, and include your PRIOR transactions for the new interest rate. That is what happened to me with one card, and on another card, my interest rate shot up from 18% to 31% because they claim they received a payment late, although I mailed it more than 2 weeks before the due date .

    But guess what I did? I paid my credit cards off, and then cut them up. These robber barons will never get another dime out of me. I am free.

    I don't give a damn one way or the other what the government does to reign in abuse by credit card companies. I simply do not need them. If I want something badly enough, I will get it when I have the cash for it. No reason to have my pocked picked by excessively high interest rates, or having to submit to arbitrary rules designed for the express purpose of screwing you, right in the ass.

    Credit cards - Who the **** needs them. I have cash and a check book, so **** 'em. I even cut up my debit card so the bastards can't make a dime in merchant fees from those transactions either. Consider this a complete "financial divorce".

    Master card - Don't leave your home with it.

    Article is here
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    Last edited by danarhea; 05-19-09 at 06:47 PM.
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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Hope ya don't need to rent a car.

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Quote Originally Posted by TOJ View Post
    Hope ya don't need to rent a car.

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    I have my own, thank you.
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    Re: Senate Passes Bill Curtailing Credit Card Industry

    The future is going to be annual membership fees and higher rates for the "good credit" risks, and no chance at all for the credit challenged.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Senate Passes Bill Curtailing Credit Card Industry

    the mafia is starting to look better, loansharking-wise

    Human Taxidermist - - now offering his services for all your loved ones
    Quote Originally Posted by jallman View Post
    How the hell did you just tie in a retroactive reparative measure with a proactive preventative measure. Not even close to being the same thing.

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    The Senate voted for this 90-5... so much for the Republicans being too far right.

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Quote Originally Posted by danarhea View Post
    I have my own, thank you.
    I currently have three vehicles, but I rent at least one almost every week. Flying into a distant city and just hanging out at the airport isn't that much fun. The auto rental dudes always insist on seeing my credit card.

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Some people do need credit cards. Some just want them. Backdated interest increases strike me as an unfair business practice. I see no real problem with this. People should not have to destroy their credit cards to be safe from "robber baron" credit card companies.

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Quote Originally Posted by Redress View Post
    Some people do need credit cards. Some just want them. Backdated interest increases strike me as an unfair business practice. I see no real problem with this. People should not have to destroy their credit cards to be safe from "robber baron" credit card companies.
    Read the contract

    its actually gasp...

    all in there!!!!!!!

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    Re: Senate Passes Bill Curtailing Credit Card Industry

    Quote Originally Posted by Redress View Post
    Some people do need credit cards. Some just want them. Backdated interest increases strike me as an unfair business practice. I see no real problem with this. People should not have to destroy their credit cards to be safe from "robber baron" credit card companies.
    Lucky for me, I don't need them, nor do I want them any more.
    The ghost of Jack Kevorkian for President's Physician: 2016

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