Comments on: Will New Law Make Credit Cards More Expensive?

[hungry1968-15]

No.

This is nothing but fear mongering in an pathetic attempt to keep the credit card industry from being regulated, so they're forced to stop F ing their customers.

If they try to charge too much, they'll find themselves out of business.

They won't take that chance.

[u-r-right]

Well Chase just sent me a notice that my interest rate will increase. It was 9.9 for the past 5 years or more. Now it will be 15 percent. I don't carry a balance on it, never was late with a payment, etc. No word on a annual fee yet. I'll certainly be shopping around. I got an offer in the mail for the new black Visa the other day at 13% which I thought was too high too.

I hope they all shoot themselves in the foot if this is how they treat their good customers. We can only hope this will create a rate war.

[ravnslikbals]

People need to look at banks that follow the spirit of the law. The banks that rip people off and continue to do so are the ones that don't deserve the business from the American consumers. Who cares if BoA, Citi, Chase and other banks go under - these are the real crooks and they continue to get hand outs with no consequences of their actions. Be smart with your money and don't feed the crooks.

[seezero1]

Definitely.

[brianbwb-2009]

"...Thanks a lot Nobama! You'll have all the deadbeats voting for your sorry aiss again. You have me and others carrying their mortgages, what else can you do to win the poor vote?" Posted by thgdriver

You're welcome. I know you just hate it that a vote counts as a vote, regardless of the economic status of the voter, but hey, that's life, sux to be you right now.

Now if you neos would quit advocating policies designed to keep the poor "in their place", then there might be more people with an economic interest in your views, but since you don't, then well, you helped make the bed, now lie in it.

[Slrman]

Who cares? Anyone that uses a credit card and carries a balance on which they have to pay interest might as well go to a loan shark. If you cannot leave within your means, either adjust your lifestyle, or find a better job.

Credit card debt is all too often a fast track to bankruptcy. For sure, it will not make you richer, smarter, better-looking, or improve your sex life.

[jckbrn-2009]

Ignorance abounds ! ! !
What fools! ! ! You want to use somebody else's moneyh and require they give you a toaster to do it ? ? ?
And charge you nothing for the "privilege"
Geez ! ! !
Spend only your own money - - debt is slavery, workin' fo' da man! !

[panhandlpete]

This "so-called" credit card bill is nothing but a SCAM to say to the people that ' 'your government is looking out for you.' You have someone robbing you, but you are not going to do anything about it ..........FOR A YEAR!!!! Why such a long time for a bill to have an effect/? Could it be that money, as we know it, is on its way OUT?

Really this bill just shows how much control the banks and credit card companies have on Washington. They will find a way around any and all regulations that cut into their "presumed divine profits."

The power to bring about REAL change lies in the hands of every person willing to sacrifice convenience for principal. Most of the younger generation today could not even think of a lifestyle without plastic,a blackberry, or ipods or fast foods. I
A recent progam I watched on the Sun's Solar Flares of 2012 may give all of us a chance to re assess life with little or no technology. If it happens to knock out all satellites worldwide, just think about the consequences. Now that is a potential problem needing some immediate preplanning.

[clancy49]

"Act responsibly..." Coming from a President and Congress that spend profusely all on credit. Coming from a President and Congress that tell us to tighten our belts and fly around in private jets, enjoy private banks with no interest and no payment plans, have the best health care, and the best retirement system on the globe. In the last 8 years Bush took away our freedoms, and in a few short months this administration has taken away all our money. There is the change and that is the only change. It is all because of the media WMD Weapons of Mass Distraction and the marketing of charisma. Don't let this article blow smoke to confuse you. The Credit Companies are dancing in joy. This law sets the precedent that banks and credit companies no longer have interest limits. In one year, after a 60 day notice watch your interest rates jump to 50%. Fact is that less than 10% default on credit card purchases. 90% of credit card bearers pay their bills. That is a fact, check it out. The Banks ran out of creative fees and charges, so now this administration has opened the door to let them jack up interest rates without worrying about criminal usury. I am working hard to pay off my credit cards. I am keeping them open. Every month I charge $10 to $20 per month and pay it off. It costs the credit card companies more to process my payment than the profit they get from the retailers. They can't charge interest, or late fee, or over balance or anything. Get Revenge America. Even if you can only pay off one card, keep it open and only charge $10 a month on it. Revenge can be sweet.

[r9119111]

The banks have a right to make money. Posted by YouCantBSirius at 3:55 AM : May 23, 2009

The people have the power of the purse and can refuse to be victimized.