Comments on: Uh-huh: Anti-credit-card legislation hurts just about everyone http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/ Personal finance, commentary, and spending less the easy way Wed, 17 Mar 2010 19:08:04 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Len Penzo http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/comment-page-1/#comment-193557 Len Penzo Thu, 22 Oct 2009 23:47:06 +0000 http://www.mightybargainhunter.com/?p=1895#comment-193557 I am certain that competition will ensure that the number of companies that charge fees to those of us who refuse to carry revolving debt and pay off our credit cards every month will be kept to a minimum. I know if MY credit card company tries to pull that stunt on ME, I will close my account faster than you can say... "Supercalifragilisticexpialidocious." (Funny, my spell-checker doesn't recognize that one. Note to self: Fix my dang spell-checker ASAP.) My $0.02 (after taxes) Len Len Penzo dot Com I am certain that competition will ensure that the number of companies that charge fees to those of us who refuse to carry revolving debt and pay off our credit cards every month will be kept to a minimum.

I know if MY credit card company tries to pull that stunt on ME, I will close my account faster than you can say…

“Supercalifragilisticexpialidocious.”

(Funny, my spell-checker doesn’t recognize that one. Note to self: Fix my dang spell-checker ASAP.)

My $0.02 (after taxes)

Len
Len Penzo dot Com

]]> By: jennifer888 @ Negtiation Board http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/comment-page-1/#comment-193484 jennifer888 @ Negtiation Board Thu, 22 Oct 2009 13:12:45 +0000 http://www.mightybargainhunter.com/?p=1895#comment-193484 If an individual doesn't carry a monthly balance and just uses the card for convenience, why not just use debit? The only benefit I can deduce from using a credit card, when you have the money sitting in your account, is to build credit. But there are surely other ways to do this that will not cost you these new fees, right? If an individual doesn’t carry a monthly balance and just uses the card for convenience, why not just use debit? The only benefit I can deduce from using a credit card, when you have the money sitting in your account, is to build credit. But there are surely other ways to do this that will not cost you these new fees, right?

]]> By: Credit Card Chaser http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/comment-page-1/#comment-193426 Credit Card Chaser Thu, 22 Oct 2009 02:39:24 +0000 http://www.mightybargainhunter.com/?p=1895#comment-193426 What is even more ridiculous is that Bank of America is losing money hand over fist on its credit card operations and people act as if BOA has no right to do things like add an annual fee to actually try and make some money and make up for the deadbeats that are delinquent on paying their cards: http://www.creditcardchaser.com/boas-credit-card-business-is-losing-money-yet-still-catching-flak/ What is even more ridiculous is that Bank of America is losing money hand over fist on its credit card operations and people act as if BOA has no right to do things like add an annual fee to actually try and make some money and make up for the deadbeats that are delinquent on paying their cards: http://www.creditcardchaser.com/boas-credit-card-business-is-losing-money-yet-still-catching-flak/

]]> By: Cassandra http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/comment-page-1/#comment-193379 Cassandra Wed, 21 Oct 2009 15:36:21 +0000 http://www.mightybargainhunter.com/?p=1895#comment-193379 Chase just sent me a nasty little notice yesterday that raises my rate from 12.5% to 19.24% in December (even though I have perfect payment history with all my cards). I'm trying not to be shocked that credit card companies are trying to make money before the new law goes into effect, but it sure hurts when you're trying to pay down debt... Chase just sent me a nasty little notice yesterday that raises my rate from 12.5% to 19.24% in December (even though I have perfect payment history with all my cards). I’m trying not to be shocked that credit card companies are trying to make money before the new law goes into effect, but it sure hurts when you’re trying to pay down debt…

]]> By: titl http://www.mightybargainhunter.com/2009/10/21/uh-huh-anticredit-card-legislation-hurts-everyone/comment-page-1/#comment-193369 titl Wed, 21 Oct 2009 12:09:14 +0000 http://www.mightybargainhunter.com/?p=1895#comment-193369 The CARD act IS helpful, of course it was expected that banks will try to find their way around it, they have to make money after all. I am sure that not every bank will impose those annual fees though. The CARD act IS helpful, of course it was expected that banks will try to find their way around it, they have to make money after all. I am sure that not every bank will impose those annual fees though.

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