Meltdown 101: How new credit card rules affect you

[AngelinaCat]

http://www.google.com/hostednews/ap/article/ALeqM5hbDW0G41Oyzi6RHP9vtbM0xp6FOgD98A7A280

[JRScott]

I wish they had capped the interest rates.

However the bill I suppose is better than nothing. In truth my personal feelings is that as Americans we need to learn to do without credit. I see credit as useful for only really 3 things, a home, medical and education. Using credit to buy clothes, food, gas, and other essentials is foolishness as I'm sure most of us here know now.

[AngelinaCat]

I wish they had capped the interest rates.

However the bill I suppose is better than nothing. In truth my personal feelings is that as Americans we need to learn to do without credit. I see credit as useful for only really 3 things, a home, medical and education. Using credit to buy clothes, food, gas, and other essentials is foolishness as I'm sure most of us here know now.

Hi JR:

Yes, you are right. We Americans have become so accustomed to just whipping out the plastic card anytime and everytime we want. Many of us here have learned this the hard way. I hate to say it, but this country is going to have to travel this route as well before the politicians in Washington become responsible.

[AngelinaCatHub]

Hi JR:

Yes, you are right. We Americans have become so accustomed to just whipping out the plastic card anytime and everytime we want. Many of us here have learned this the hard way. I hate to say it, but this country is going to have to travel this route as well before the politicians in Washington become responsible.

To follow up Mrs. C, at this time, we, those who have realized we have spent beyond our means, have far surpassed Washington D.C. so called “Statesmen”. They are commonly known as lawmakers, I call them all liars.

Our bankruptcies we take personally, but, look what ‘Bammy’ law has and will do to the car industry. We cannot spend our way into wealth. Didn’t work for us, won’t work for Govmint. I fear for our Country for the first time in my life.

Just heard, Congress turned down funds for the Gitmo closing. One little slap on the wrist for mankind. Sure don’t want them in our County.

Once we were multi millionaires, with land we wished to give to our Society for a wildlife easement and park. Now, today, due to the unemployment running out, we for the first time applied for food stamp card. Why not? Govmint is giving millions to ACORN, and Billions to the U.A.W.

I’ve had it and when I see some newbie state how embarrassed they are to have to go C7, I just spit nails, as WE who are discharged are mere pioneers in the multitude of what is on our horizon.

OK, ok, I’ve cooled off now. Pheeuuww, that was tough. ‘Hub

[Mi Bankruptcy]

I would like to see an attack not only on the CC companies but also on our institutions of learning. Why in the world does it cost thousands of dollars to obtain an education. I just completed my BK and still have 30k of student loans to pay. No fresh start here...

And to think.. My dad still made more than me with only a high school diploma and no special trade skills

[AngelinaCat]

I would like to see an attack not only on the CC companies but also on our institutions of learning. Why in the world does it cost thousands of dollars to obtain an education. I just completed my BK and still have 30k of student loans to pay. No fresh start here...

And to think.. My dad still made more than me with only a high school diploma and no special trade skills

Hi Mi Bankruptcy:

It is sad to say that your Dad went to school when the public school system was still worth something and TAUGHT something.

Today the public school system is nothing but an indoctrination tool for the Government. Radio Talk show host Neal Boortz coined the term 'Government Schools', and *Higher Education* does no better. I work for a Community College, and I am appalled at the liberalism at this school, when it exists in what is essentially a mill town. The students graduating have no choice but to move away to try to find something that will allow them to repay the loans. This is a 'No-Win' situation all the way around.

Good luck to you~

[HHM]

Also, we will probably see a return of annual fees on "benefit type cards" like frequent flyer miles, platinum cards etc.

[dingdong]

And don't forget, along with the new credit reform, you will now be able to carry a concealed weapon in a National Park.

Hope the CC companies don't have any "office picnics" in a National Park in the future, they may be in for a surprise .

Sorry, I hate how much pull the NRA has.

[Flamingo]

And don't forget, along with the new credit reform, you will now be able to carry a concealed weapon in a National Park.

Hope the CC companies don't have any "office picnics" in a National Park in the future, they may be in for a surprise .

Sorry, I hate how much pull the NRA has.

___________________________________

The NRA just wants to make sure you can defend yourself in National Parks so no one (bears included) will take your credit cards when visiting. :-)

[Mi Bankruptcy]

And don't forget, along with the new credit reform, you will now be able to carry a concealed weapon in a National Park.

Hope the CC companies don't have any "office picnics" in a National Park in the future, they may be in for a surprise .

Sorry, I hate how much pull the NRA has.

Actually the NRA is starting to lose some of it's clout. That's why they had to stick it in a CC bill.. LOL "Bill" Boy there is some kind of joke in there somewhere.

[JRScott]

And don't forget, along with the new credit reform, you will now be able to carry a concealed weapon in a National Park.

Hope the CC companies don't have any "office picnics" in a National Park in the future, they may be in for a surprise .

Sorry, I hate how much pull the NRA has.

It's not just the NRA, the UAW has way to much power, the teachers unions have to much etc.

That's why as a nation we are failing on all fronts, economic, education, etc.

If it weren't for the teacher's union we could have real educational reform, in fact I think privatizing it could save the government a bundle and ultimately be cheaper on the consumer while providing a better education.

[DownNotOut]

And don't forget, along with the new credit reform, you will now be able to carry a concealed weapon in a National Park.

Hope the CC companies don't have any "office picnics" in a National Park in the future, they may be in for a surprise .

Sorry, I hate how much pull the NRA has.

Sorry to disappoint you, dd, but I don't think you'll have to worry about people who are licensed to carry concealed in a National Park. It's those that don't have a license to carry that you should be concerned about. And they would carry in the park whether it was against the law or not. That's why they're criminals. But, I digress...

Anyway, I agree - too much pull for special interests and unions and not enough pull for us regular people out here trying to get by. In actuality, this bill probably does nothing to help anyone, and if it does, the cc companies will quickly find a way around it.

Still love 'ya dingdong!

[dingdong]

My point was a stab at politics, and how utterly ridiculous it is to package weapons rights issues with CC reform.


I mean package that crap with some kind of crime reform bill or something with a least a slight association with the agenda.

I realize the issue is very divisive ideaolgy-wise, but it just shows how ridiculous politics are, there is so much back door crap and shenanigans when it comes to getting Congress to act on something and "What ya gonna do for me if I do this for your " mentality. It is a shame that law cannot be passed on its own merits without having to back door other legislation in or attach some pork to it.

My bachelors is in political science and I worked for a State Senator for awhile right after college. It is crazy how much money is thrown around by organized lobbys to influence their agenda, but we all know that.

Look at what the CC companies did with the new BK laws.

If they ( the CC companies) were smart,they would have you take Credit Counseling and Debtor Ed courses BEFORE you ever filled out an application for credit and have you attend a 341 hearing as a viewer to see how debt and their crazy policies can wreck your life, that probably would have had more effect on default rates and BK filings than having to take these stupid classes after you were in a financial wreck.

Politics,shmolitics, thats why I wait tables with my PoliSci degree. What was I thinking?

[JRScott]

dingdong there is an initiative going to force Congress to do one subject at a time. You can find info on it at DownsizeDC.org.

However I've found NC's representatives and senators to be unresponsive to the common sense initiatives there.

[DownNotOut]

My point was a stab at politics, and how utterly ridiculous it is to package weapons rights issues with CC reform.


I mean package that crap with some kind of crime reform bill or something with a least a slight association with the agenda.

I realize the issue is very divisive ideaolgy-wise, but it just shows how ridiculous politics are, there is so much back door crap and shenanigans when it comes to getting Congress to act on something and "What ya gonna do for me if I do this for your " mentality. It is a shame that law cannot be passed on its own merits without having to back door other legislation in or attach some pork to it.

My bachelors is in political science and I worked for a State Senator for awhile right after college. It is crazy how much money is thrown around by organized lobbys to influence their agenda, but we all know that.

Look at what the CC companies did with the new BK laws.

If they ( the CC companies) were smart,they would have you take Credit Counseling and Debtor Ed courses BEFORE you ever filled out an application for credit and have you attend a 341 hearing as a viewer to see how debt and their crazy policies can wreck your life, that probably would have had more effect on default rates and BK filings than having to take these stupid classes after you were in a financial wreck.

Politics,shmolitics, thats why I wait tables with my PoliSci degree. What was I thinking?

LOL!

I gotcha. I didn't realize that they had tacked on the National Park thing with this credit card bill, but then I'm not surprised - they do it all the time. Like you said it's, "Okay, I'll go along with this, but what do I get?" and then they sneak some BS in that they hope no one will hear about and we get to pay for it.

I got your point. I'm with you - politics makes me sick, but then it hasn't changed much since ancient Rome. People with power will always do whatever they must to stay in power.