Comments on: Credit Card Terms Taking Turns For Worse

Vera Gibbons On How Issuers Are Tightening The Screws To Protect Themselves

[tannerbird]

Credit card limit 6% home loans 6% with 20% down car loans 6% 20% down no exceptions. Five hundred dollars limit on credit cards no exceptions. Hello real world good buy wall-mart.

[caldwellptr]

Posted by Credibility2 at 02:30 PM : Oct 14, 2008

I guess some folks just want their cake and eat it to regardless of their circumstances, eh Credibility2?

[credibility2]

Over extended credit card holders are too ignorant to figure things out. They blindly go into debt with an "I don''t care" attitude and then whine and complain when they''re charged high interest rates, late fees, etc. There should be a moratorium on issuing any more credit cards anyone that has even a remote issue with their credit history. Keep rates high and credit limits low. Force the dead beats to fade away into oblivion where they belong.

[puritan9]

Dear Bloggers...
-
Please read the 27th Amendment to the US Constitution and the story behind it. This is how our own law-makers have scr*wed the public while holding down the minimum wage. And by law you cannot do anything about it - get scr*wed and say thank you please!
-
All the rest of us get paid based on "performance" - the same should apply to bankers and politicians. Most of the Washington politicians today are idiots perhaps with a gift of gab - they have no interest for the good of the country. CEO''s of banks, insurance companies, brokerage houses, etc., many of the financial institutions are greedy sob''s with not an iota of patriotism.
-
Majority of these *** are there just to scr*w the public regardless of the number of homeless people, starving children, or lives broken under financial burdens - the axis of greed runs through our financial institutions.
-

[caldwellptr]

And I prefer peanut butter and jelly, but beans and taters are a nice change of pace.

[tannerbird]

Everone should pay the same % rate where they 50 thousand or 50 million.

[caldwellptr]

Puritan9 wrote:
"People who cannot manage their credit should not be given credit in the first place."

I totally agree also. But you also do not try to put someone who can afford a $100,000 house in a $500,000 one. You also do not give them a loan designed to fail, like those with balloon payments. Good folks gambled on their future that life would be better and incomes would rise. It doesn''t alway happen that way.

[easeup-2009]

I''''d rather eat beans and taters one day and taters and beans the next than to borrow money.

Posted by cbsfan731 at 02:23 PM : Oct 14, 2008

Just make sure you crack a window.....

[easeup-2009]

he average American is carrying 63K in credit card debt, maybe it''''s time to cut up the plastic and live within you means. This is absurd.

Posted by Edward1975 at 02:15 PM : Oct 14, 2008

It''s $8,000. There''s nothing wrong with credit cards.

Credit cards don''t create debt, people do.

[caldwellptr]

some of this started with Carter and it was Clinton ... Posted by d7767w at 02:18 PM : Oct 14, 2008

Are you sure we shouldn''t be blaming George Washington? Or maybe the British?

[edward1975-2009]

The average American is carrying 63K in credit card debt, maybe it''s time to cut up the plastic and live within you means. This is absurd.

[puritan9]

Credibility2:
People who cannot manage their credit should not be given credit in the first place. By charging them more the banks are only excerbating their conditions. These people should only use prepaid credit cards for their own good - safe, secure and responsible. Our capitalistic financial institutions should "curb their greed" for capitalism to survive.

[caldwellptr]

Should loans be designed so that the interest is high and loaded up front so that the bank gets paid whether their is a default or not?

[puritan9]

It is under the 8 YEARS of REPUBLICAN RULE that the seeds were sown and crops are ready for harvest to screw the ordinary people in the country. As long as we are forking over $700 billion to the rich banks who have practised predatory interest rates on credit cards, why not give people making less than $250,000 a break and not charge them higher than 10% on their credit card balances. Surely the banks are smart enough to borrow money from the government at 2% and lend at 10% and make money. Of course, it will require lots of high fluten meetings, thousand dollar lunches, vast number of spreadsheets and $200 million dollar salaries. Without lots of money higher level of thinking is not possible.

[caldwellptr]

Or should it be an open market in which if a bank can get the interest it''s theirs?

[caldwellptr]

Should there not be any regulation on interest charged?

[credibility2]

Credit card companies should charge high interest rates based on holders who have poor or risky credit, carry a balance too long, pay late, pay only the minimum, reach their limit, etc. Those who think the credit card companies aren''t being fair are off their beams. You''re part of the credit problems we''re experiencing right now. If a person can''t live within your means and is constantly in debt and living off of their credit cards, it serves them right when they fail. It''s the rest of us that have to pick up their slack and pay higher everything in order to cushion their laxity. These individuals are burdens on the system. Learn to do without and live without. Can''t pay for it in a reasonable amount of time, then you don''t need it.

[getaclue777]

I give Congress around 11 to 13 percent of my income every year. Thank goodness they use it wisely.


--------------------------------------------------------------------------------

Posted by caldwellptr


LOL....yeah....the amount of wisdom Congress uses never ceases to amaze me!

[caldwellptr]

President Bush gave Congress around 22 percent of his income last year. Cheney pays closer to what I pay - 11 to 13 percent. Of course, President Bush and Vice President Cheney make much more than I do a year.

[tannerbird]

This will be a good thing in the long run this is what got a lot of people in trouble in the first place.