Mr. Obama, in a ground breaking meeting yesterday with the credit card executive wankers, dictated the terms of how they would conduct business in the future with their clients and demanded transparency, reasonable interest rates, fully disclosed fees and no fine print on any of their documents.
He reduced them to stenographers.
Hell, yeah!
Maybe banks to satisfy Barrack's demands will decide unsecured credit isn't worth the hassle in the USA. Credit cards aren't a right they are just a tool that should be used wisely and aren't.
ReplyDeleteWanna stay out of the bankers grasp ?Pay off your balance every month.
Wanna Really stay out of their grasp? Don't use credit cards at all. Pay CASH or use a bank debt card if you must. You aren't going to spend what you don't have that way.
ReplyDeleteCredit cards are handy when you don't have the cash to pay for an unexpected expense, but other than that, they are the root of evil. I'm still trying to pay off mine.
ReplyDeleteAbout time the credit card companies were told to act responsibly and not exploit innocent people. The credit limit on our Mastercard is absurdly high, a good thing we're both sensible about not running up amounts we can't pay back.
ReplyDelete@GFB:
ReplyDeleteEasier said than done, sometimes. I had to use mine several years ago to pay my staff because clients weren't paying me. I view them as emergency tools.
@Brighid:
I try and avoid them, like you.
@Irene:
And the interest rates are obscene. There shoul;d be a law with a ceiling on them.
@Nick:
I agree. I added up my credit limits one day and found I could run up $100,000 overnight. Imagine paying that back. A pound of flesh indeed.
XO
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