[Tailgunner Joe]

More regulation of credit cards will only make it harder to get credit.

[goodnesswins]

I wish the Credit Card CEO’s would tell King Obomba to go POUND SAND....unless, of course they’ve taken money from the government. C’mon...guys....have some B*lls!!!

[rabscuttle385]

The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations." —Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. Ping list jointly pinged by rabscuttle385 and TigerLikesRooster. To join the ping list: FReepmail rabscuttle385 with the subject line add  moneylist. (Stop getting pings by sending the subject line drop moneylist.)

[rabscuttle385]

Issuers of credit cards have been blamed for raising interest rates whenever they wish...

Credit card issuers, in some cases, have arbitrarily and without warning lowered customer credit lines below their current balances as an excuse to default them.

More regulation of credit cards will only make it harder to get credit.

Bring back the usury laws.

[DevNet]

Too much credit helped us get into this mess in the first place.

[April Lexington]

A non-opinionated point of observation... I notice many unemployed people are charging living expenses on the credit card. HOPING that their circumstances CHANGE and they will be able to pay off the balance at some point in the future. If card companies tighten up, the unemployed may lose credit card capacity and then will have no money and no credit. This will irritate them hugely and social unrest will erupt as they can't buy food, cloths, gasoline, entertainment, etc.

The next year could get nasty...

[rsobin]

The fine print on the back of credit card application is purposely intended to be difficult to read and understand. The lettering is small often with low contrast. The language has a lot of legalese that probably most high school grads cannot understand fully. It is true that most people do not know what they are signing. Is this the intended purpose? Probably. While it is the fault of the signer that does not understand why and how his rate tripled, in the future it should be made easier for the average person to understand what he is signing.

[bobaloobob]

credit card debt per household is $10,769.-——WOW!!!

People need help alright ...not asistance against credit card com.

They need a training class in WILLPOWER and abstinance... from using it.

[sickoflibs]

I pay it off every month and in return Chase gives me 1-2% back. Once I was late and simply asked them to take the penalty and interest off and they did with no argument. I just asked “ Would you please ....”

See : Here They Come To Save The Day: credit card fees Peter Schiff

[Myrddin]

More regulation of credit cards will only make it harder to get credit.

Obama will screw up credit cards and further kill the consumer economy. That will close more retail stores and collapse the commercial real estate market. The GM and Chrysler bankruptcies should start rippling through the economy over the next few weeks.

[April Lexington]

Americans, who like to complain about rascally credit card companies, nevertheless revel in their availability. More than 80 percent of all American households have a credit card, and the average credit card debt per household was $10,769.00 at the end of 2008.

Card companies are scared to death right now of massive defaults from the unemployed and the cash strapped. If they cut back on available credit again, GDP will go down the tubes. Recession extended (hopefully until 2012 so we can throw his sorry butt out of the White House).

[the_daug]

I would like it to be harder to get a credit card. I think handing out credit cards to people who because they turned 18 is pumping the buck.

[Vicki]

I am for taking responsibility, but these credit card companies do play dirty tricks. We recently had our Bank of America credit card interest rate doubled. We have always paid on time, either paid off the balance or paid far more than the minimum due. I have a friend whose payment date was moved up by one day, therefore making a late payment likely.

I waited 20 minutes to talk to a bank manager and she said we had done nothing wrong and that BOA had made a blanket decision that affected all customers based on the economy.

BOA also reduced our money market account interest rate from 2.1 to .93 with the account maintaining 10 times the minimum balance.

Bank of America also said we could not use the rest of our home equity line of credit. They also would not refinance our home even though THEIR appraisal was $60,000 over what we paid for the house.

Getting back to credit card companies. I would rather owe money to the mob, than them.

[OrangeHoof]

I wonder why nobody speaks of “preditory governments”? Seems they are just as greedy and power mad as the banks are. Ever dealt with the I.R.S.?

[Ronin]

Time for my obligatory “I don’t have a credit card” and “I don’t have any personal debt” post.

Pay cash or do without. It’s worked for me for the last 23 years and I have no intention of ever changing.

[Tempest]

I stopped reading when the author insinuated that we were nationalizing banks. I wish that were the case. Instead we're babying bank by allowing them to privatize their profit and socialize their losses.

[Tempest]

corporatism is NOT conservatism.

I wish some people would get that...

The parasites at the credit card companies are no better than vulture.

[mysterio]

I don't have much good to say about fascism or credit card companies, to tell you the truth.

Guess the credit industry shouldn't have taken a bailout. They knew who they were getting in bed with.

[ggrrrrr23456]

This is also known as CATERING TO IRRESPONSIBILITY!

Get enough moochers on your side and it will be impossible to sustain normal life without draining the responsible taxpayer’s pockets.

People think Obama is saving them. What is really happening is he is SHACKLING ALL OF US.

WAKE UP AMERICA.

[dalereed]

Anyone that uses a credit card and doesn’t pay the full balance every month deserves to be charged whatever the company wants to!!

Anyone that uses a Credit Card for obtaining credit is stupid and needs a keeper!!!