posted
Just thought I give this one it's own thread... to me they are the biggest crooks in our financial system and it's not making much news imo... anyways I don't have time to discuss it right now because have to run to work.... someone start the ball... do you agree with what Congress is trying to do or not?
-------------------- Let the world change you... And you can change the world.
posted
I'll start off for ya Mach. Unfortuantely credit card companies are a necessary evil. I had one company reduce my limit, unbeknowst to me until a week after the fact. Guess they are hoping you go over the limit before the notify you and can charge you more and change your rate. Btw, that's Barclays.
And today, I got a letter from CapitalOne that esse4ntially says they are doubling my rate for purchases and transfers. needless to say, that CO card will be dormant for quite a long time.
Anyway, I think it's criminal what they do. Any legislation to curb them is a step in the right direction IMO.
-------------------- It is impossible to make anything foolproof because fools are so ingenious.
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posted
I hope the do get a new set of regulations to follow if its one thing we are learning out of this whole mess is the financial sector cannot manage itself
-------------------- Wise men learn more from fools than fools from the wise.
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I would like to see rates decrease and the small print go away. I have never yet understood how a company that gets to charge the vendor 5%, the consumer 10% plus, and gets to tack on $29 late fees every time a bill comes in late can go before congress and say they are struggling to stay afloat.
On the flip side of that, personally speaking, I have always thought of my credit card that I am using someone elses money to pay my bills and when you use someone elses money they get to set the rules. Not nearly as frugal as some here I'd bet but I do try to pay my bill in full as much as possible so I don't even have to think about the small print or interest rates.
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posted
Not a very novel idea when almost everything nowadays require a credit history such as getting a mortgage, renting an apartment , car loan and yes even getting a job...
But anyways i was pointing out that CC companies are just as big crooks as the other industries that caused the economic collapse like mortgage, wall street etc. industry... worst one of all i think is Citibank...
-------------------- Let the world change you... And you can change the world.
quote:Originally posted by Machiavelli: Not a very novel idea when almost everything nowadays require a credit history such as getting a mortgage, renting an apartment , car loan and yes even getting a job...
But anyways i was pointing out that CC companies are just as big crooks as the other industries that caused the economic collapse like mortgage, wall street etc. industry... worst one of all i think is Citibank...
You can build a credit history without a credit card Mach...
posted
Not easier then with a CC Retired Imo.... CC's are a necessary evil unfortunately... but now the CC companies are trying to jack up rates, cut credit lines etc. to as many people as possible in anticipation that Congress will pass a CC reform bill... so those customers are grandfathered in with bad rates etc. imo.
-------------------- Let the world change you... And you can change the world.
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