[Rakkasan1]

I think a maximim repayment amount of $100/month
is hardly mean and unfair.Cut cable TV
and DSL/cable modem and you have it right there!

[On the Road to Serfdom]

Exactly, this bill is so modest I can't believe the reaction on this forum. $100 per month max for 5 years max, and only for someone making over $5000 or so per month depending on the median income of his state.

To those who say "When will the rates go down?" Most offers I get are 0%, I don't see how they can get any lower than that! (And I did keep a large balance at 0% for three or four years before I got tired of writing the checks. Paid it off from the savings account I had earning interest on the side the entire time.)

The credit card industry is very competitive, and this will propably be good for consumers (who plan to pay back what they borrow) in terms of slightly better credit card deals, but this bill is so modest it would not be expected to affect rates much.

[Conspiracy Guy]

The new law is quite fair. Those opposing it here obviously haven't researched it.