Comments on: Credit Card Companies Respond to Credit CARD Act http://cashmoneylife.com/new-credit-card-laws/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: TPKANE http://cashmoneylife.com/new-credit-card-laws/#comment-23995 TPKANE Tue, 08 Jun 2010 19:00:51 +0000 http://cashmoneylife.com/?p=2224#comment-23995 AARP,I JUST KNOW THAT WHILE WE WERE FOCUSED ON WHAT FEW CRUMBS WE GOT IN THE CREDIT CARD LAW,THE BANKS AND CREDIT CO.S WERE BUSY TOO.THEY WENT UP ON THEIR RATES BEFORE THE LAW PAST.THEY CAME UP WITH SEVERAL CATCH PHRASES TOO SQUEEZE YOUR BILLING STATEMENT.I LIKE THE ONE CASH ADVANCES WHERE YOU DON`T ACTUALLY WITHDRAWL CASH BUT GET CHARGED FOR YOUR PURCHASES?ALSO THE NEW GUARNTY THAT I WASNT TOLD WHEN I SIGN UP FOR THE STUPID PROTECTION GOES UP WITH YOUR INTERST ACCORDING TOO YOUR BALANCE.IT HAS NOTHING TOO DUE WITH IT.IT IS NOT LIKE THERE ARE NOT ENOUGH HIDDEN LINES NOW TOO STEAL YOUR MONEY.THAT WAS THE WHOLE PURPOSE IN THE CREDIT LAW ANYHOW.TOO PUT SOME KIND OF CHECK AND BALANCE ON THE CREDIT COMPANIES AS THEY DO JUST ABOUT WHAT THEY WANT ANYHOW.NOW I AM GETTING INFO FROM EACH CREDIT CO.ON NEW TERMS GO INTO EFFECT AUGUST.WATCH OUT.BABY BOOMERS.READ THOSE STATEMENTS QUESTION AND CALL THEM ,BUG THEM,WRITE LETERS.THEY JUST FIGURE YOU WILL FIGURE IT IS EASIER TOO PAY IT AND YOU WILL I HAVE DONE IT TOO.SHAME ON US. AARP,I JUST KNOW THAT WHILE WE WERE FOCUSED ON WHAT FEW CRUMBS WE GOT IN THE CREDIT CARD LAW,THE BANKS AND CREDIT CO.S WERE BUSY TOO.THEY WENT UP ON THEIR RATES BEFORE THE LAW PAST.THEY CAME UP WITH SEVERAL CATCH PHRASES TOO SQUEEZE YOUR BILLING STATEMENT.I LIKE THE ONE CASH ADVANCES WHERE YOU DON`T ACTUALLY WITHDRAWL CASH BUT GET CHARGED FOR YOUR PURCHASES?ALSO THE NEW GUARNTY THAT I WASNT TOLD WHEN I SIGN UP FOR THE STUPID PROTECTION GOES UP WITH YOUR INTERST ACCORDING TOO YOUR BALANCE.IT HAS NOTHING TOO DUE WITH IT.IT IS NOT LIKE THERE ARE NOT ENOUGH HIDDEN LINES NOW TOO STEAL YOUR MONEY.THAT WAS THE WHOLE PURPOSE IN THE CREDIT LAW ANYHOW.TOO PUT SOME KIND OF CHECK AND BALANCE ON THE CREDIT COMPANIES AS THEY DO JUST ABOUT WHAT THEY WANT ANYHOW.NOW I AM GETTING INFO FROM EACH CREDIT CO.ON NEW TERMS GO INTO EFFECT AUGUST.WATCH OUT.BABY BOOMERS.READ THOSE STATEMENTS QUESTION AND CALL THEM ,BUG THEM,WRITE LETERS.THEY JUST FIGURE YOU WILL FIGURE IT IS EASIER TOO PAY IT AND YOU WILL I HAVE DONE IT TOO.SHAME ON US.

]]> By: Ryan http://cashmoneylife.com/new-credit-card-laws/#comment-23184 Ryan Fri, 16 Apr 2010 14:58:50 +0000 http://cashmoneylife.com/?p=2224#comment-23184 Thanks, Benjamin. I look forward to reading it! :) Thanks, Benjamin. I look forward to reading it! :)

]]> By: Benjamin http://cashmoneylife.com/new-credit-card-laws/#comment-23136 Benjamin Wed, 14 Apr 2010 23:12:14 +0000 http://cashmoneylife.com/?p=2224#comment-23136 Hi Ryan! Great article and thank you for your submission to the Personal Finance Carnival! The Carnival is scheduled to go live (with your article included!) April 22! Thanks! Hi Ryan! Great article and thank you for your submission to the Personal Finance Carnival! The Carnival is scheduled to go live (with your article included!) April 22! Thanks!

]]> By: Ryan http://cashmoneylife.com/new-credit-card-laws/#comment-22387 Ryan Fri, 19 Mar 2010 14:05:17 +0000 http://cashmoneylife.com/?p=2224#comment-22387 I think we are seeing some pendulations within the Credit Card industry, which is understandable given the recent credit crisis. The good Credit Card offers seem to be coming back though, which means there is health and competition for new customers. Hopefully consumers a lenders have learned from the last few years and will both sides will show some restraint. I think we are seeing some pendulations within the Credit Card industry, which is understandable given the recent credit crisis. The good Credit Card offers seem to be coming back though, which means there is health and competition for new customers. Hopefully consumers a lenders have learned from the last few years and will both sides will show some restraint.

]]> By: Kristen http://cashmoneylife.com/new-credit-card-laws/#comment-22386 Kristen Fri, 19 Mar 2010 12:44:42 +0000 http://cashmoneylife.com/?p=2224#comment-22386 I've been asked frequently about the possible negative implications of the CARD Act, such as lower credit limits and higher fees. It's still a little early to know exactly what impact the new regulations will have, though there does seem to be anectodal evidence that the credit card issuers are imposing more fees. However, in regards to reduced credit limits and making it more difficult to get credit, that has been going on for awhile, long before these new regulations came into play. I think that has less to do with the new laws and more to do with the overall financial crisis. More and more people have been defaulting on their credit card payments. And a lot of consumers were given large credit limits which they probably should never have had to begin with. (I will cop to being one of those people several years ago, so I know from first-hand experience.) I think the credit pendulum has been swinging back and forth to extremes for awhile. Hopefully it will eventually reach a center point where those who are credit-worthy and those who are not are each given the appropriate amount of credit, fees and interest rates accordingly. I’ve been asked frequently about the possible negative implications of the CARD Act, such as lower credit limits and higher fees. It’s still a little early to know exactly what impact the new regulations will have, though there does seem to be anectodal evidence that the credit card issuers are imposing more fees.

However, in regards to reduced credit limits and making it more difficult to get credit, that has been going on for awhile, long before these new regulations came into play. I think that has less to do with the new laws and more to do with the overall financial crisis. More and more people have been defaulting on their credit card payments. And a lot of consumers were given large credit limits which they probably should never have had to begin with. (I will cop to being one of those people several years ago, so I know from first-hand experience.)

I think the credit pendulum has been swinging back and forth to extremes for awhile. Hopefully it will eventually reach a center point where those who are credit-worthy and those who are not are each given the appropriate amount of credit, fees and interest rates accordingly.

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