The GOP is too busy trying to obstruct the upcoming Supreme Court nominee to give a darn about hard working Americans getting screwed...

http://www.political-buzz.com/

So I borrow money to buy what I should have saved for, or God forbid I actually go without.  But I'm the victim?  If college kids are too stupid to realize that a student loan charges less interest than a credit card then they should drop out now.

I suppose the real villains are all those stupid reality shows showing young impressionable kids a life style they can't afford.  Damn you MTV!!!!

From NBC's Harry Enten
Tom McMahon, the acting executive director for the liberal group Americans United for Change, urged Republicans to vote for the Credit Card Accountability and Disclosure Act, saying that "the Limbaugh-led Republican Party [which has] repeatedly said no to get the economy moving again ... will have another opportunity to do the right thing."

Americans United For Change should know better than to ask Gopher's to back something that will benefit consumers or the economy. Lets face it fat rats have been profiting from the same consumers that they've borrowed money from to help keep their sorry butts in business. They're motto is to take and not give.

i sure hope this means my cat wont get offers for credit cards anymore.

Alan, if you are a recent graduate of college, you should know that the cost of tuition, books, and related fees has skyrocketed, while federal aid has stagnated.  In the past 30 years, the value of federal loans and grants has plummeted, making it very difficult for the average college student to afford the expense.  For some of them, a credit card is the only way to afford it.  

You know Alan, some people have large credit card debit due to medical bills.  See, even with insurance, you can rack up huge out of pocket expenses.  Now, I have a credit card bill that I pay on time, it was a fixed rate and it has both my medical costs as well as my dogs chemo therepy on it.  

Again, I had a fixed rate and was never late.  They raised my rate 2%.  No reason.  Just wanted to get more blood out of this over extended turnip.

Now, I realize that according to you, I  should have anticipated the medical out of pocket expenses and saved for that.

Of course, I have not had a raise in five years so saving has been a bit difficult since expenses have gone up even if my wages have not.

And clearly, Alan, you don't remember being young.  I do.  And no Alan, you don't think ahead.  You don't understand the concept of annual interest.  You don't think that you will go 100,000 in debt and find yourself working at Starbucks with a degree (if you are lucky enough to find a Starbucks that is hiring).  You are under the assumption you will find a good job and pay your bills.

But then you are late by 2 days and your interest rates shoots up to 30%.

Yes Alan, you are correct, one should pay their debits and save for what one can.  But credit card companies should not be able to raise a fixed rate just because they want to.

Alan, what did you do when you were in school and needed some book money. The C-Card companies are targeting our youth and teaching them to be debtors BEFORE they even have a job.

As a nation, we need to stop feeding the C-Card addiction. Try this folks, when you want to buy something, add it to a list. If you still want it in 30 days, go ahead but PAY CASH!

As for the bill to restrict them from usury, let's get is passed. The real solution, however, is to refuse to live beyond your means. Cut up all but one card for emergencies and rock on!

So I borrow money to buy what I should have saved for, or God forbid I actually go without.  But I'm the victim?  If college kids are too stupid to realize that a student loan charges less interest than a credit card then they should drop out now.

I suppose the real villains are all those stupid reality shows showing young impressionable kids a life style they can't afford.  Damn you MTV!!!! Alan, NJ (Sent Monday, May 18, 2009 3:57 PM)

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So how is asking credit card companies to abide by the contracts that they originally offer a bad thing?

we're talking about cards that change their rate the instant a student comes close to maxing their card...and then boom, overlimit charges, latefees, and finally indentured bill payer.

You that fooled into thinking that the credit card companies are boyscouts?

Who's Rush Limbaugh?  Is he that guy that hates everything?
I heard a guy by that name on the radio today, carping about the govt. wanting to increase gas mileage on cars.  Why would anyone want cars that use up LESS petroleum?  (you know- that stuff that the world will run out of someday??)  Anyway- this Limbaugh guy sounds like a real Einstein.  Why in the world is he on the radio, instead of running for President??  He SEEMS to know SO much more than anyone else!

I don't think this bill is needed.  People need to take responisbility for their own actions.  They should not "over-borrow."  If they don't like the credit card rates, they can switch companies.  If too many people switch from Company #1, then Company #1 will eventually get the idea and offer more attractive rates.  Bottom line is don't borrow over your head in the first place.

Why are all these kids borrowing so much for college?  Didn't Obama promise them all a free ride?

You know Julie - most people have large credit card bills because they bought the flat screen tv, took the huge vacation, and all in all did what Obama does, ie., spend money they don't have. And now the fderal government has to step in to bail these people out? I don't think so.

Liberals complain, whine, grind their teeth, and Obama pats them on the head and says "There, there little liberal, I'll take care of you.". Then Barack tucks them in and gives them a good night kiss.

It's about time something is done to stop the outrageous interest rates.  I've had a bank card since 1969.  When I travel I use it, and I use it when making multiple purchases rather than writing several checks; I've always paid the entire amount on time or paid way more than the minimum when I used it for an emergency.  I received a letter telling me my rates had been increased.  My option was to accept the increase or give up the card.  Sure there's plenty of people who use their cards irresponsibly but there are just as many who use them wisely.  The credit card companies willingly extend their services to people and often allow them an excessively high maximum amount they can charge.  Credit card companies became greedy just as did the investment bankers at AIG.  Somehow, my sympathies aren't with the card companies because they are equally at fault for making it too easy.

Here is a situation.

A card company was charging 10% when you made a purchase. But the rate was raised to 11% when you made a second purchase. Finally, you made a third purchase when it had dropped to 9.5%. Under the proposed law, the card company would have to track each purchase with its seperate rate.

Oh, for those varable rates, would you have to be notified 45 days before hand on a monthly recalculation?

Just to make this more sill, when you make a payment, which sum does it pay off first?

Rates can vary month to month with a variable rate (based on prime rates). So my silly example is quite possible. I'm sorry, but no reasonable system would ever be run this way. The charging the total balence under one rate is only fair. You do realize that the only way a company can maintain this is if they bump up all their rates now so they don't have to worry about adjustments later. Oh, wait, isn't that what we have just seen in the last month and a half?

By signing up for the card, you agreed to their terms. Up until you cancel the card, you are still agreeing to their terms. By canceling, you're basically saying you do not agree with any further changes. If you canceled your card, it should lock in the rate.

And when has any card company not sent out notices about rate changes?

If you want to talk about breaking terms of their contracts, that is one thing. If you want to talk about overcharging beyond the set rate, that is one thing. But the bill they are trying to pass is silly and senseless. This is politicans grandstanding to say they passed something "for you". The democrats will spin this as "they care" but it is pointless. This law is not a benefit. See my comment above about bumping up rates. The fact that this bill will pass (and it will) has already hurt more people than it would help.

Jody Iowa -  I received a letter telling me my rates had been increased.

If you always pay your credit card off on time, they can increase your rate a 1000%, and it won't matter. So why do you care?

Further proof that the Party of NO, doesn't give a damn about the babies......!

Give them nothing, then send them off to a needless war....and deny them the benefits that they otherwise would so richly deserve!

If adults don't have money management skills, in this economy, how in the world do you expect a youngster to navigate through it all!

Repuke leader Oxy-Head Limbaugh!

You know Julie - most people have large credit card bills because they bought the flat screen tv, took the huge vacation,
JT Whitten, Texas (Sent Monday, May 18, 2009 4:34 PM)
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And you're an expert on this how?? Talk about overreaching...

Here's a couple of $$$ - go buy yourself a CLUE!

Why don't you take your blinders off you incredibly ignorant tool. Grow up and be a man instead of a poorly informed mouthpiece of 24 hour right wing garbage. Let me provide a few things for you that you may not be familiar with. They are called FACTS....
Mark,Seattle (Sent Monday, May 18, 2009 1:07 PM)
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Spot on Mark – but… remember when does the GEENOPEE ever lets a little thing like the FACTS get in the way when all they have to offer is BS!  Their heads are so far up their a@@ they couldn’t find their way out with a flashlight & and a trail of breadcrumbs!  

The ‘R’ in the RNC certainly doesn’t stand for REALITY with that gang!

Who's Rush Limbaugh?  

Buzz

A man with more money then you can ever imagine and with more brains then you'll ever have.

Why are all these kids borrowing so much for college?  Didn't Obama promise them all a free ride?
Can you buy me a car, Obama?

You are sadly mistaken (as usual) The President didn't promise college students a free ride and the majority of them don't want a free ride, they just want an opportunity to attend college and get employment, work and pay off their student loans.

Evidently you didn't attend college. Student loans have been around and availible for as long as I can remember. They aren't hand out, they have to be paid back. Nice try but come again...

You know Julie - most people have large credit card bills because they bought the flat screen tv, took the huge vacation, and all in all did what Obama does, ie., spend money they don't have. And now the fderal government has to step in to bail these people out? I don't think so.
JT Whitten, Texas (Sent Monday, May 18, 2009 4:34 PM)

Please provide some evidence the next time you decide to make a vast generalization of why people use credit cards.  Otherwise, you're just spouting more useless hot air

So how is asking credit card companies to abide by the contracts that they originally offer a bad thing? - GP NW Indiana

What credit card company isn't?

President Obama should veto the credit card bill if it still contains the GOP addition that hand guns, rifles and semi-automatic guns be allowed in National Parks.  This has nothing to do with credit card reform but is the cost of of seeking Republican support.

Liberal greed far outweighs any greed an insurance company of a credit card company can come up with.

All they are asking for is clear, honest agreements that the credit card companies need to adhere to.  Have you read your credit card small print?  It make no sense.  They can raise the rates for no reason at all up to 30%.  That is insane.  Again, for no reason.  

And why in the hell to they keep raising my credit line?  Because they want me to buy that big screen tv I wanted to get myself for my 50th birthday but again, between medical expenses and my lack of a wage increase, I won't do it.  And yet, they have raised my credit line over and over again.  Because they want to trap me.  And they can since people don't understand that even if the banks are being charged 0% interest by the fed right now, they are raising interest rates of people that have done nothing wrong.  And that is wrong.

i sure hope this means my cat wont get offers for credit cards anymore.
Anita, Birmingham, Alabama

Your cat probably has better credit then you do. She pays off her card every month for all the chew toys she buys. And that's what you get for putting the cat down as dependent. Where'd you get the fake SSN?

Why are all these kids borrowing so much for college?  Didn't Obama promise them all a free ride? Can you buy me a car, Obama? (Sent Monday, May 18, 2009
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Obama hasn't offered a free ride to anyone in this country, you must just be listening to those regurgitated GOP talking points...

Everytime a GOP'er screams socialist or telepromter an angel get it's wings (pulled off)

Jody Iowa -  I received a letter telling me my rates had been increased.

If you always pay your credit card off on time, they can increase your rate a 1000%, and it won't matter. So why do you care? Molly Ivans (Sent Monday, May 18, 2009 4:48 PM)
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Why not institute this with car loans and home loans...

Yeah, what does it matter, all the Rightwing nuts pay with cash every month.

Tell you what, lets get rid of all credit cards. Lets see how your job and business thrives then.

Wheels Lawton, Oregon:

Lol, you should get right back into your idiot box. Animals that go to the vets office for visits get mail, babies and toddlers get credit card offers, judging from your post, you aren't up on current events either.. Open wide, insert ass.

I'm sure you all know this, however it probably needs repeating; the inherent unfairness is when the card companies raise their rates and the consumer has to accept it unless they can pay their balance in full. People should be allowed to freeze the rate at already agreed to terms and surrender the card.  Some states already have this law, which is why the cards are all in South Dakota and Delaware, states which don't.  These are the "intrusive regulations" GOPers can't live with.

So I borrow money to buy what I should have saved for, or God forbid I actually go without.  But I'm the victim?  If college kids are too stupid to realize that a student loan charges less interest than a credit card then they should drop out now.

I suppose the real villains are all those stupid reality shows showing young impressionable kids a life style they can't afford.  Damn you MTV!!!!
Alan, NJ (Sent Monday, May 18, 2009 3:57 PM)
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I hope you have plenty of money saved up in case you have a catastrophic illnes and must come up with a few hundered grand or it goes to collections. I hope you have flat tires in a middle of nowhere town where there is only one place to buy tires and the shop owner sees you as a cash cow where you have the choice of paying for new tires with a credit card (you haven't saved the cash to pay for them) at double or triple the normal price. God forbid you have to buy school books so you can learn something and then pay for those books over time because without an education you are relegated to jobs at McD's etc and want more for yourself.

Not everyone has the ability to whip out a few hundred dollars at a moment's notice. Saving for thins is fine but there are those unexpected times when emergency money is needed and you don't have it so you charge it. You have to take a few months to pay for it and each of those months the credit card company ups the interest to outrageous amounts so you'll never get it paid off and they greedily chortle all the time.

"Who's Rush Limbaugh?  Is he that guy that hates everything?"  *SIGH* So this is the future of the democratic party?  I really doin't think he's kidding!  Just goes to show you how daft the dems are... they hear a sound bite and believe it as truth (point of fact, they did elect obama, right?).  FACT:  Rush never wished for the US of A to fail, only the policies of the obama rigime.  That's not biggy, for the last eight years, ALL the dems did was activly obstruct the Bush Admin in order for him to fial.  I don't remember any of you  calling them hate mongers.  

You need to read your facts before you type.  

"... if (Obama's) policies fail, then the American people won't."

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