More info on credit cards

[Broompilot]

Many people are being suprised when actually reading there statements and just paying the min. This is the new tactic to stick it to you. (If you are carrying a balance)

They are now running a credit check on you about once a quarter, if they find your income vs credit used is over what they deem risky, they are either canceling you which is better than the other choice, and this is they send you a little notice on the back of advertisement, stating that they are going to raise your min payment and increasing your intrest rate from what ever all the way to 23% or there about.

This is great way to help you manage credit, use it and get screwed. There is nothing illegal about it thanks to those in D.C. watching out for the little guy and the bankers got in bed with the Politicians and found another way to stick it to us.

I apologize about keep bringing the subject up on everything I know about credit and credit card gouging. I just want you all to realize how much it actually costs you in profits to go this route. DO NOT BE A SLAVE TO THE LENDER!!! Begin to take control of your spending and borrowing and you will never be scamed by these legal crooks again.... I could go on and on, and if you ever want more info you can send me a private message thru this site or begin listening to Dave Ramsey on XM. I read this in the USA today last week.

 

[dhalltoyo]

I actually worked for the world's second largest credit card processing company. Would you like to guess how many transactions they process per minute? Over 1 million per minute. Enough said about the irresponsible use of credit cards.

Now I haven't had the opportunity to speak with every credit card holder in the world, but as of today I have not heard of anyone being forced at gunpoint to use their credit card and not pay off the balance monthly.

Basically, it comes down to making a simple business decision. Do I manage my business responsibly and pay the credit card balance monthly?

There one immutable truth in the world of lending: Risk Determines Rate. Carry a high balance and you a greater risk at defaulting on repaying the debt. It is just business! The only crooks are the dead beats who don't their debts and drive up the cost of doing business for those of us who DO pay our debts.

The same holds true for Health Care Insurance. Those who pay their premiums are also paying for all the dopers, dead beats, prostitutes and winos who stumble into the Emergency Room for free treatment.

What makes America great is the Liberty we have to say NO!!!

If you don't like the high interest rates or the credit reporting system that flags a high-risk credit card user; don't use a credit card.

You control your own destiny, but if we whine and blame others for our own lack of self control, and everything else under the sun, then we open the door for more government intervention, and I for one do not want to live in a Socialist country.

Stay free...spend responsibly.

 

[Broompilot]

Is that any excuse to change the rules midway? The interview was done on people such as single mothers, who did need a line of credit to get them through when Dad did not pay the child support. Now the mother is hurting financially due to the immidiate change in rates.

If one handles credit responsibily, than there is litle harm. But when the credit card changes the rules to squeeze you into submission one is hurt. Not everyone is as fortunate as you and me, and furthermore you know how many solitications these undecated consumers are bombarded with a couple a day. The temptation for someone struggling to get by is just to great THEY ARE CROOKS just as greedy as someone who racks up a balance knowing they are gona declaire bankrupty in a year or less.