Did the Democrat's Credit Card Act of 2009 help or hurt you?

American said:

Hope you pay it off by then, cause it'll probably go up to 30%.

Click to expand...

Nope. It will be 9.9% after 12 months. I'm not signing up for it anyway. Don't want it.

UtahBill said:

Don't they teach this stuff in high school any more? Or are we discussing this with 8th grade drop outs?

Click to expand...

No they don't. Kids don't have a clue about personal finances. They want everything right now and don't think about debt at all. It really is the parents job to teach their children how to handle money but most of them are horrible with their own money.

Dirty Harry said:

Here is proof:
This was before Obama was even elected president:

http://blogs.creditcards.com/lending-standards.gif


You are wrong, but of course evidence and facts mean nothing partisan hacks like you.

Click to expand...

"The proof" that the Democrat's credit card reform didnt cause interest rates to go up?........written prior to said reform/rate hike.


Nobody is contending that the economic collapse and recession didnt change lending standards or APRs for a great many people......it did......just as the Democrat's credit card reform did.

I mean your entire argument boils down to "Credit Card companies raised rates due to their loss of revenue from the Recession--which was 100% Bush's fault"

But then you sway into "Credit Card companies did not and will never raise rates due to their loss of revenue from the Democrat's Credit Card Reform--and if they did--it was also Bush's fault"

.
.
.
.
...........can we agree.....the recession and the Democrats Credit Card Refom caused rates to rise?
.
.
.

DontDoIt said:

This relates to my post minimally..

Click to expand...

well my train of thought easily derails, a short term memory problem due to some meds that I had to quit taking, and they haven't worn off yet.....essentially I am saying that credit is not for those who can't pay....so those who are being turned down, may be better off without the cards....

Dirty Harry said:

No they don't. Kids don't have a clue about personal finances. They want everything right now and don't think about debt at all. It really is the parents job to teach their children how to handle money but most of them are horrible with their own money.

Click to expand...

but, there are so many neat gadgets out there !!!! When those parents want to retire and their kids are still living with them, then the situation should become a bit more clear in their minds.

UtahBill said:

well my train of thought easily derails, a short term memory problem due to some meds that I had to quit taking, and they haven't worn off yet.....essentially I am saying that credit is not for those who can't pay....so those who are being turned down, may be better off without the cards....

Click to expand...

I agree, but if you think about it, credit cards are needed just to be able to purchase certain things as well.