credit card bill

http://townhall.com/news/politics-elections/2009/05/19/credit_card_reforms_up_for_senate_vote

If they completely restrict the ability to raise rates then that will make it more expensive for everyone or access will be severly limited. These are unintended consequences that must be considered. However that being said, I heard someone on a financial show say that his credit card rate was raised to 64%. The host validated it by having the customer fax in his statement. So as hard as it is for me to say. Hold on now. I’m going to type it. If I can just get the words out without choking on my conservative capitalist principles……………………….. Yes we need some regulation in the credit card industry. There, I said it. I hope your happy now. đŸ™‚

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2 Responses to “credit card bill”

  1. Anonymous Says:

    The problem with credit is, it’s not a one-time deal. If a company cheats you one time, you’re likely not to get too pissed about it. But when you get screwed month after month on hiked APRs on huge balances–and it starts messing with your livelihood, then yeah there should be some fair practices–in writing and enforceable. Sorry you had to choke so hard. For the record, I have great credit and great APRs (to handle my tens of thousands of debt!!)

  2. urstupidnourstupid Says:

    You better pay them off by the end of the year because the credit card companies are about to lose money and they are going to have to make it up somewhere.

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