Credit Card Reform

[csmutty]

Originally Posted by BLACK SQUIRREL

I bet you live with Mom and dad.

You should play the lotto.

[Kurlon]

Originally Posted by jnm988

I made a payment to Capital One 3 days late and they raised my rate from 4.25% to 23.95%.

I think I'm ok with credit card reform.

The reforms wouldn't help you in that case. You miss a payment date, you are open to rate hikes to default rates. The reforms are to prevent rate hikes for no reason, like Visa tried to nail me with. No missed payments, no late payments, no changes on my credit report, nada, just an out of the blue rate jump that I respectfully declined.

[TheIglu]

Originally Posted by jnm988

With or without clothes?

Doesn't matter to me, I'm married and either gets me all hot and bothered

[R1]

Originally Posted by obsolete

You borrow at an agreed upon rate and then the rate increases. What if you borrowed at a rate you could afford and now it has increased.

If i remember correctly in the fine print of almost every CC contract is a line item that states you have the choice to deny said rate changes and continue paying the balance off at the original agreed upon rate.

but if you make any purchases after you deny the rate change then it becomes retroactive and the new purchases along with the previous balance are all applied to the new increased rate....

IMHO the system does suck, but it does work if you pay attention. READ the CC contract before you sign it and pay your bills on time

The only thing that sucks is the changing of the payment dates and the lack of any grace period.

I have heard some CC companies applying late fees for not having the payment in literally at the TIME specified.

and then once late the companies have the ability to mess with your credit score...

the real reform needs to go with the credit rating system...

we have become way to dependent on credit scores and less dependent on actual values and prices....

thats really what is killing us.

I would love to be CC free but then my score would dive

[KevinB]

Originally Posted by Rambunctous

We have the right since we bailed their asses out.

They should be kissing our asses, almost every bank, and all big banks are still bankrupt today. Our government softened the accounting rules to keep them solvent, and then borrowing from the Fed at near zero and loaning it to you at 18%, nope that wasn't enough lets jack it up to 29%.
Fuck the banks!

[jnm988]

Originally Posted by Kurlon

The reforms wouldn't help you in that case. You miss a payment date, you are open to rate hikes to default rates. The reforms are to prevent rate hikes for no reason, like Visa tried to nail me with. No missed payments, no late payments, no changes on my credit report, nada, just an out of the blue rate jump that I respectfully declined.

I'm fairly certain that the language in the reform says that you have to be at least 60 days late before they can impose delinquency rates.

[Kurlon]

Originally Posted by jnm988

I'm fairly certain that the language in the reform says that you have to be at least 60 days late before they can impose delinquency rates.

Interesting, I hadn't heard that clause. They only need to wait 30 days to ding your credit report, surprised they will make them wait 60 to bump rates.

[jnm988]

Originally Posted by TheIglu

Doesn't matter to me, I'm married and either gets me all hot and bothered

Heh... they don't look as big with a black bra and dim lighting

PS, my opinion is VERY valid.

[ctbandit]

I'm all for this shit. Credit card companies have been sticking it to people since day 1, and even more so in this last recession - raising interest rates on people who have no issues with payments, overcharging, or otherwise.

One AWESOME thing that this reform brings is payments going toward your higher interest balances first.

Ps. - rate jumped 7 % for no apparent reason few months ago.

[ctbandit]

Originally Posted by jnm988

PS, my opinion is VERY valid.

[hessogood]

Originally Posted by csmutty

I have a Visa that is 29%, but I rarely use it. I use my debit card all the time, because I don't have to worry about paying a bill or accruing interest. The only reason I got one was so that I could get 1% cash back on some stuff that I buy and get my credit rating up there a little bit.

And I am pissed off at all of the things that the federal government thinks that they can do. This has been going on for a long ass time, way before Obama, and I think that this stuff should all be deemed unconstitutional and left for the states to decide, like was written in the good document.

You're pissed over consumer protection? Damn that govt for trying to get away with this.

[Vulcan1500]

Originally Posted by hessogood

You're pissed over consumer protection? Damn that govt for trying to get away with this.

I know. Where will they stop??

[maithairyder]

Originally Posted by jnm988

Heh... they don't look as big with a black bra and dim lighting

PS, my opinion is VERY valid.

Muffin top...


Bingo wings...



I just threw up in my mouth

[jnm988]

Originally Posted by maithairyder

Muffin top...


Bingo wings...



I just threw up in my mouth

That's not muffin top, its my hip bones, you fucking retard. Have you looked in the mirror?


You look like the gay baby of a Thai tranny hooker and a down syndrome kid with fetal alcohol syndrome.

[DuncanMoto]

OWNED!

Don't mess with the Jackay

[me109g4]

TDBN just hit me with a 7% increase on my card, no late payments ever, a brief talk with them wouldnt change thier ways so it was paid down to zero in 72 hrs.and left it active. They need me more than i need them and if they want to make no money vs. some money thats up to them. Screw 'em. Am currently going through all my cards to see which ones have upped thier rates, those that have will have the cards put where they wont be used till they see sense.

So far HSBC has gone to 29%, i cancelled that one cuz they just plain suck,, GE went to 26%,, they are getting a call as soon as i finish typing this, LOL.

[TheIglu]

I have no credit cards anymore. Cash/debit card for everything.

[maithairyder]

Originally Posted by jnm988

That's not muffin top, its my hip bones, you fucking retard. Have you looked in the mirror?


You look like the gay baby of a Thai tranny hooker and a down syndrome kid with fetal alcohol syndrome.

Originally Posted by DuncanMoto

OWNED!

Don't mess with the Jackay

Owned? I'm not even real you dolt! Jackie replying to a mirage...She got double P'owned

[FullBlown AIDS]

Ah Shit This Board Sux You hotties Got Dicks


Im out


Peace

[maithairyder]

Originally Posted by FullBlown AIDS

Ah Shit This Board Sux You hotties Got Dicks


Im out


Peace

God damn i wish you were funnier, it's be more enjoyable reading posts. You fake screen name and post lame shit, what's point? go try again and come back