Credit card bill

fmullegun · May 21, 2009

Once hearing about it I was mostly neutral because even though I thought the CC companies might have problems down the road and ask for bailouts, and even though it might possibly lead to lower credit limits, and annual fees, I doubt it would change mine at all. But the freaking Coburn amendment made it all better.

Partisan people take note: Millions will accept almost anything if you dish it out with a little sugar. If it came with an overturn of the 34 NFA act I would accept a 50% income tax, universal healthcare and making abortion illegal.

WTF do I care, I have plenty of credit line, much more than I need, and I bet some cards will always offer no fees. Plus CC companies suck anyways. They sit around thinking up ways to give you fees. I bet everyone has called to complain about a fee.

But the credit card victory came at a cost that angered some backers of the legislation: approval of an unrelated provision allowing visitors to national parks and wildlife refuges to carry loaded weapons if they are otherwise licensed to possess guns.
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http://www.nytimes.com/2009/05/21/us/politics/21cards.html?_r=1

Well done Senate!

Northside Storm · May 21, 2009

We'll see who's laughing when Congress tacks on universal health care to a fresh round of tax cuts.

br0ken_shad0w · May 21, 2009

* Plain-English contracts
* Can't raise interest rates on existing balances unless the card holder is 60 days behind, then the rate has to be restored if payments are on time for six months.
* 45 days advance notice required for rate increases.
* Credit card companies can't charge a late fee if they themselves are late processing a payment.
* Statements have to get mailed 21 days before the payment is due.
* Harder to give credit cards to people under 21.
* Interest rates can't be increased within the first year
* Promotional rates have to last at least 6 months
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Amazing how many of these SHOULD have already in place. Oh well, it's a start (even though the interest cap is the one I wanted the most).

Now I can't wait for the credit card industries to punish the responsible people (or deadbeats as they like to call us): http://finance.yahoo.com/banking-budgeting/article/107096/Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers?sec=topStories&pos=2&asset=&ccode=

JuanValdez · May 21, 2009

Some of it I like, some I don't.

I called my bank a couple of days ago to get an additional credit card. While they were approving me, they went ahead and cut my maximum by almost half. It doesn't bother me but I thought it was interesting, especially since they'd bumped me up 2 or 3 times in that past 6-12 months.

fmullegun · May 21, 2009

JuanValdez said:

Some of it I like, some I don't.

I called my bank a couple of days ago to get an additional credit card. While they were approving me, they went ahead and cut my maximum by almost half. It doesn't bother me but I thought it was interesting, especially since they'd bumped me up 2 or 3 times in that past 6-12 months.
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yeah this is possible to happen a lot but I don't give a crap. I cling to my guns during depression and during boom. I am fond of them.

fmullegun · May 21, 2009

Oh yeah and my thread title pun was totally intentional! Yeah thats the ticket! Would you believe.............partially intentional.

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