This guy's liveblogging the Senate Credit Card hearings going on today... http://consumerist.com/consumer/new...bitrary-credit-card-rate-increases-329544.php Here are the first few minutes... Credit card companies are scum.
My friend was telling me this week that he had a CC with a nominal balance on it. They notified him that they were increasing the rate to 23.9%. He called and they told him that he had become "a risk." So he paid the card off in one fell swoop. Then they tried to entice him to keep the account open with a 4.9% rate. They just seem to be able to do whatever they want to do, whatever the public will bear. I think they are just hoping to find people at a vulnerable time when they can't do anything but knuckle under to their shenanigans.
Legalized loan sharking. At least they don't break your legs. Overall its much better than getting squeezed for the money you owe.
Obligatory mention of Elizabeth Warren, Harvard Law Prof, expert of CC issues (queen b**** to the government-sanctioned organized crime of our time). http://www.pbs.org/wgbh/pages/frontline/shows/credit/interviews/warren.html http://www.pbs.org/wgbh/pages/frontline/shows/credit/view/#rest
I was going to start an official Christmas Greeting thread. Mine was going to be. If you use a credit card, that you are carrying a balance on, to buy a Christmas present for someone that isn't giving you regular oral sex, then you my friend, are a dumbass. Merry Christmas, Dubious But but what about the kids? Go to the damn Dollars store, kids are ungrateful, generally spoiled and have the attention span of a gnat. Give a bunch of cheap crap and they wll be just as happy for just as long and you won't be crushed when they break it before sundown. Heck you can get a pretty good bicycle for $49 these days.
what a cheap a$$ j/k. Society today has us living a lifestyle we can't afford....most of us are suckers that are willing to accept it and that’s why they get away with all sorts of crap…
I'll go one better than that. If you have a credit card that you carry a balance on, you are a dumbass. Happy Hannukah, RocketMan Tex
Well, sometimes it can't be helped so I won't be that much of a hard ass. A pretty high percentage of the people out there make less than $15 and hour, that's under $30,000, so, just with a car payment, insurance, rent and food they spend everything they make. Just one major auto repair they will be carrying a balance. Or a DUI or a divorce, or a tooth that needs a crown or getting robbed etc etc.
