Comments on: Senate Passes Credit Card Reform Bill

President Obama Could Sign The Credit Card Bill Of Rights This Week; Would Ban Excessive Rate Hikes And Fees

[formrusmcsgt]

$500.00 dollar shoes
$300.00 hat.
$100.00 shirt.
$400.00 jacket.
Driving a BMW.
8 credit cards maxed out.
WHO'S FAULT IS THIS ??????????????
Posted by one_2258 at 4:38 PM : May 19, 2009

You forgot "and not $20 in their pocket"......

[formrusmcsgt]

"We've got too many hard-working families in Massachusetts struggling to keep their heads above water, and the last thing they need is to get whacked with unfair credit card fees," said Sen. John Kerry, D-Mass.


In general, this is pure crock.

Unless one's indebtedness is due to a medical or another emergency, "struggling to keep their heads above water" translates into the dumb SOB's loaded their materialistic a$$es up with debt to the point that they are choking on it.

Stupid is as stupid does.

[Solarrays247]

shelly_1979,

Close your Account with them.
have them put you on a fixed rate Payback loan....
Posted by Retarded_Conservative at 4:15 PM : May 19, 2009

Shelly, another avenue available for you to consider is that there is a free non-profit 501c-3 consumer credit counseling service available nationwide for consumers. There is no cost to you, and they may be able to assist you. Someone there might be able to help you to get off that merry-go-round.

If you do decide to call them or visit them, just be careful that they are the real thing. Look in your yellow pages, and check them out with the BBB or State Attorney General first. There was a problem with imposters for a number of years who would charge people up to $299 for advice that should have been free.

But, otherwise, much good luck to you!

[shelly_1979]

Retarded_Conservative,

Amazingly nobody has ever suggested that I do that. I was instructed by Bank of America to call a credit counselor which I have yet to do. However, I will now also look into your suggestion. Thank you for the nice comment. In this thread they are few and far between!

[chitown639]

It's crazy how some on the Right support the ideal that there shouldnt be any government regulations or guidelines in the marketplace. As if these greedy corporations wont prey on consumers. As if corporations have a conscience for anything except profit. The free-market can't be trusted to do the right thing.

[Solarrays247]

I think required, in-depth grammer & high school courses in consumer finance would work. But that wouldn't be 'cool' and might actually require learning something. So we'll keep on making excuses for the dimwitted and passing more laws so our elected representatives can earn those campaign dollars.
Posted by despido at 4:04 PM : May 19, 2009


I agree 1000% with you! ;=)

[shelly_1979]

"So move your account. You spent more than you could afford to pay - or chose not to pay what you owed. Either way - you screwed up. Try a loan shark next time. No fees, no interest - just medical bills - but you can charge 'em!
Posted by despido at 3:59 PM : May 19, 2009"

I screwed up? I should not have been injured and had to pay $2000 in medical bills? I should have been psychic and known that my first payment would have been late because in 2006 it takes 3 days for an electronic payment to go through? I did try to pay what I owe, had you not read my post with a pre-conception that I "screwed up" maybe you would have understood the situation. I did everything I could to keep out of this position. I could not avoid spending what I did, unless having collection agencies coming after you for medical bills is what you suggest. I have paid entire paychecks to try and solve this problem... never making any progress. Please direct me to someone who I can transfer my account to... that comment alone shows that you have no idea what is really going on here. As for your statement that I screwed up... go to hell.

[Solarrays247]

I am personally hanging on to just one card for emergencies/travel, and that's it. I'll not be held hostage to the whims of the credit card companies. Although I know it is not possible at this time, I wish everyone could do the same, because I bet you that the banks/issuers would change their tune in a hurry!

There is little difference between throwing your money into an incinerator, and paying these high interest rates on your credit card balances. Waste of money.
Posted by Solarrays247 at 2:10 PM : May 19, 2009

I imagine that the Bank held a gun to your head and made you get a credit card. I am 79 and I have never had a credit card, all you need to do is stay within your means and don't try to live on credit cards. It is easy to see if you can afford to borrow money for vacations, new cars, send the kids to camp and all the other things credit cards are used for. If you don't have the money now how do you expect to have it in the future?

I agree that the rates seem to be too high and are changed for no reason, but you don't have to use credit cards. I saw a woman on TV and she said her family had a combined income in the forties and had a credit card debt of $72,000 how is she ever going to pay this off. This is part of the interest rate problem.
Posted by d7767w at 3:31 PM : May 19, 2009



For your information....please don't assume anything about me!

I own a business, and there are times that I must travel. I discovered many years ago, that it is very difficult to travel, ie arrange flight times, hotels, etc. without a credit card. LOL

By the way, I volunteer at my church and give free credit counseling advice to our members and others in my community....

Keep on following your own advice.....you appear to be doing good. Kudos to you!

[sparkbox]

Too little, too late.
How convenient this law won't go into effect immediately or be retro- active.
I have always paid my cards on time, never been over the limit, and kept my balances around 40 percent of my limit.
All of my interest rates have shot up to around 25 percent.
They were around 6-7 percent.
Hogwash politics.
Still protecting the campaign donors.
Up yours Obama. And I wasted my vote on you.

[shelly_1979]

To all of you who blame consumers and would prefer to whine about who you are going to be hurt in all of this. Imagine losing your job, needing to pay your light bill or buy groceries. Using your credit card which you have only used a few times for emergencies and ending up in a position where you cannot even afford to buy new shoes because of credit card fees. This is now all about irresponsibility or frivolous spending. It is about an economy where people are desperate to pay for basic necessities only to find that their "lender" is going to put them into financial ruin. This is not only for 20-somethings or over spenders. It is for anyone, any age, who has had to use their credit cards to survive until they could get back to work. Then struggle to make payments so large they cannot afford to ever get back on their feet. They change due dates and refuse to post electronic payments the day they are received... but it isn't their fault? All so some CEO's can have their bailouts and bonuses off the backs of hard working Americans. What's worse is that we're all judged by people who are lucky enough not to have been put in a similar position. Think you are too smart for it to happen to you? Then don't get sick or lose your job because that is how it starts.

[despido]

A really useful law would have been mandantory counseling for anyone wishing to get a credit card, advising them against it altogether.

Another would be raising the age limit to 30 years old to even recieve a credit card.

Cut up and maliciously destroy all of your credit cards now.

Posted by nofoolling at 3:56 PM

++++++++++++++++++++++++++++++++

I think required, in-depth grammer & high school courses in consumer finance would work. But that wouldn't be 'cool' and might actually require learning something. So we'll keep on making excuses for the dimwitted and passing more laws so our elected representatives can earn those campaign dollars.

[despido]

I have been RIPPED-OFF by BANK of AMERICA!
Posted by shelly_1979 at 3:47 PM
++++++++++++++++++++++++++++++
So move your account. You spent more than you could afford to pay - or chose not to pay what you owed. Either way - you screwed up. Try a loan shark next time. No fees, no interest - just medical bills - but you can charge 'em!

[shelly_1979]

"It's sad that those of us who pay our balances in full and on time each month are now going to be punished with annual fees to make up for those who can't live within their means and pay their bills on time. Kind of reminds me of the mortgage crisis. No one takes responsibility for their own actions anymore, and the rest of us are stuck paying for it!
Posted by manny781 at 3:33 PM : May 19, 2009 "

People like you have no idea how some of us have been treated by credit card companies. I used my card for a few emergency purchases, including medical bills. When I made my first payment I was devastated to realize that they were refusing to post my electronic payment for 3 business days. This shot my 1-yr, 0% interest rate straight out of the box. The next month I tried to pay my entire balance 4 days before the due date only to learn that they had changed my due date to 3 days earlier, meaning my payment was again late. Each time causing a $40 fee. Now they are charging me $50 a month. I am a full-time student and doing my best to pay my existing bills while they charge me $50 per month because their fees have pushed me further and further into debt all the while I am making $100-300 payments monthly. I have been in this hell for 2 years and something needs to be done so they cannot put people the same position I am in now. I resent people like you insisting that this is because of people not living within their means or failing to pay their bills on time. How can you pay on time when they change your due date every month?

[nofoolling]

Another song and dance, brought to you by your bought and paid for criminals in Washington.

A really useful law would have been mandantory counseling for anyone wishing to get a credit card, advising them against it altogether.

Another would be raising the age limit to 30 years old to even recieve a credit card.

Cut up and maliciously destroy all of your credit cards now.

The only purchases that should ever be made on credit is your house and possibly your car.

If you don't have the cash or debit amount for whatever purchase you are considering, you can't afford it. Save money out of each paycheck and purchase when you have the entire amount and not before. Any other arrangement is irresponsible and fiscally stupid.

Unless you enjoy making corrupt elite bankers ever richer off of your irresponsiblity.

[despido]

I recommend you DON'T TAKE YOUR KIDS TO THE PARKS ever again. I know that several park rangers will be quitting over this travesty.
Posted by fred-mann at 3:36 PM
++++++++++++++++++++++++++++++++
Are you adding those to the list of parks to which you already should not be entering and rangers are quitting - due to armed drug dealers tending to their crops as is Sequoia National Park, or perhaps the armed human smugglers that occupy Organ Pipe National Monument. Where's all that outrage been?

[shelly_1979]

First of all this has nothing to do with worldwide disease or hunger, take that debate elsewhere. This has to do with American banking institutions ripping off American consumers and continuing to keep them in debt no matter how hard they try to pay off their bills. It is always amazing to see people act like they are so much smarter than everyone else. Many of you who blame "nitwit" or stupid consumers for credit card problems have just been lucky enough not to end up in the same position that a lot of us are facing now. Since 2006 I have charged approximately $3000 on my Bank of America credit card. I have paid $2700+ but I am still $2000 in debt due to fees and insane interest rates. How is that right? I should only be about $300 in debt. I have used almost every dime I have made to make $200-300 payments, rarely settling for the minimum payment. However, nothing I do helps me even get my balance below my credit limit for longer than a few days after my payment. I always end up having fees dropped on me and see that my balance is above the limit which causes more fees. With Bank of America I have experienced every dirty tactic that can be used by a financial institution; refusal to post payment on the day it is received, changing due dates monthly, etc. I am not irresponsible, nor have I been frivolous in my spending or management of my finances. I have been RIPPED-OFF by BANK of AMERICA!

[despido]

$30 billion: Annual shortfall to end world hunger.

Posted by davidwaters at 3:28 PM

++++++++++++++++++++++

$30 Billion would cover it for 9 months - at which time the population of 'needy' would increase 50%. You'd need a lot more than $30 billion a year - because it simply doesn't stop there, it grows exponetially. Humans have few natural enemies except for war and possibly Islam. Look at the defense budget as population control.

[manny781]

It's sad that those of us who pay our balances in full and on time each month are now going to be punished with annual fees to make up for those who can't live within their means and pay their bills on time. Kind of reminds me of the mortgage crisis. No one takes responsibility for their own actions anymore, and the rest of us are stuck paying for it!

[skeezix06]

Yet another big fat hoax on us. There is no cap. This is worthless.

[jc80013-01]

I like this, the credit card companies have to put the terms in simple language. Because of this making it harder to screw the consumer they will need to raise rates and fees. They should all have to change their names to Dewey, Cheatem and Howe.