2009-05-02T14:20:34Z opencongress.org tag:opencongress.org,2007:/bill/comments/54397 2009-05-02T14:20:34Z tag:opencongress.org,2009-05-02:/comment/105235 thecat If Congress wants to really help the people of this Country, regulate the amount of interest the credit card companies can charge. When you start at a 7% interest and then they increase it to 23% if you're not able to pay off your balance in full, that's highway robbery; and this is when you make your payments every month as required. Not everyone is about to pay their balance off in full each month and the credit card companies take advantage of it. By the time the balance is paid in full, the interest accummulated would have paid the original balance off several times over. You might as well have gone to a loan shark, same thing.Congress never wants to change anything that effects money, when the big companies that invest in their campaigns might not like it. Imagine that! 2009-05-03T00:53:35Z tag:opencongress.org,2009-05-03:/comment/105262 carigis personal responsibility is one thing, and has nothing to do with this bill. this bill addresses known abuses and potential areas of abuse by card companies. the fact is, that with credit cards fast replacing cash as our nations currency , credit card companies are one of the FEW industries the GOVT should be heavily scrutinizing. They are also the only types of contract that the issuer can change the interest rate as they please and unilaterally on money already owed by a consumer. This law basically just codifies existing rules so that they are harder to change by a card friendly administration in the future 2009-05-13T20:14:46Z tag:opencongress.org,2009-05-13:/comment/106812 bullshit You know, if I put my hand in a fire, i learn. If I don't even get a chance to learn, then i will never know. If you don't read what you are signing up for, it's really your own fault. I have bad credit, I understand I pay more for it, and i manage myself appropriatly. If others cann't do that, why do I have to be controled so others can be? Government needs to stop trying to take control of everything. They haven't done a good job and are not about to start making good judgements for me. If they cann't even handle thier own spending how can they really claim they can fix this? And, to boot, it's a non issue. Really, why focus on this when there are real issues that are life threating? This isn't really a non issue, it's a less than important issue compaired to out of control spending by the people who want to controll this?? my opinion. :) 2009-04-23T02:58:48Z tag:opencongress.org,2009-04-23:/comment/103907 Tinalouise99 I cut-off time for agree Credit card companies have run a muck with interest rates - but when we start regulating payment cut off times AND making a law to say if a payment is mailed 7 days before it's due then the company has to consider the payment 'on time' That's just going too far!! This is just another step to the government 'helping' out every aspect of our lives. I have two credit cards and don't carry a balance. I read the disclosures when I signed up for the cards. The last thing I want is the government to come in and tell me these companies have been treating me unfairly. They haven't - I play by and KNOW the rules. 2009-04-23T06:08:55Z tag:opencongress.org,2009-04-23:/comment/103927 daringone I'm torn on this one. On one hand, I'm thinking you should have to be responsible for knowing that you're signing up for a card with terrible terms. On the other hand, cards like specific store cards (Best Buy, Macy's and the like) that by default carry ridiculous rates of over 20% regardless of how good your credit may be is outright usury. I think any law that forces more notification to the consumer of anything the card company is doing that essentially affects the payment is probably a good one. 2009-06-12T12:41:03Z tag:opencongress.org,2009-06-12:/comment/109557 texasbud A family member of mine has a stellar credit card rating and the company cancelled her account for lack of use. Talk about retalliation... Someone who is fiscally responsible is not as profitable. How do you make a fiscally responsible person profitable to a credit card company? Shut down their account which negatively affects their credit card rating. There is only incentive for them to do this without regulation. When your account is cancelled you have less available credit, thus driving down the FICO score which is used as a standard of credit lending. Pretty soon, that score will be measured on how profitable one is to a credit card company rather than how fiscally responsible one is! 2009-05-18T14:30:35Z tag:opencongress.org,2009-05-18:/comment/107335 madvilletimes If your business relies on people sticking their hand in the fire, you need a new business. I'm from South Dakota, where our governor tells us we stand to lose up to 5000 jobs at places like Citigroup and Premier Bankcard. To stay profitable, these companies need the ability to take advantage of folks with bad credit and folks who miss a payment or don't read the fine print (and come on, how many of us have read every word on every notice our credit card companies send out?). I say any business model based on deception and manipulation like that deserves to be regulated out of business. Shut them down; we South Dakotans can find a healthier basis for our economy than usury. 2009-06-12T12:37:21Z tag:opencongress.org,2009-06-12:/comment/109555 texasbud right on! 2009-05-22T05:36:17Z tag:opencongress.org,2009-05-22:/comment/107810 mpaone Here, here. 2009-04-19T14:39:22Z tag:opencongress.org,2009-04-19:/comment/103362 carigis anything to reign in card companies is good in my book.... now lets change the max interest rate to 15% and we have a start. 2009-04-23T09:14:04Z tag:opencongress.org,2009-04-23:/comment/103958 mrlargo I completely agree with you. This is just the government getting into regulating the private sector. I really don't see them as helping the people as I do inserting themselves into the day to day workings of business. It comes down to responsibility. If you have credit cards learn to live within their limitations and your financial limits. No to this one. 2009-04-27T01:31:44Z tag:opencongress.org,2009-04-27:/comment/104428 michele2007 Credit Cards should not be able to break contracts. To people who pay their cards off each month and have no balance and are happy with that, I guess they haven't hit you with the $150 yearly fee yet that you never had before or lowered your credit limit for no reason.