Credit card companies are expected to change their policies on your card.

Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/banking-budgeting/article/107096/Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers?sec=topStories&pos=7&asset=&ccode=)

In credit industry language those that pay their bills in full and just use the card for convenience are known as "deadbeats."

Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers: Personal Finance News from Yahoo! Finance (http://finance.yahoo.com/banking-budgeting/article/107096/Credit-Card-Industry-Aims-to-Profit-From-Sterling-Payers?sec=topStories&pos=7&asset=&ccode=)

In credit industry language those that pay their bills in full and just use the card for convenience are known as "deadbeats."



It will be a different business," said Edward L. Yingling, the chief executive of the American Bankers Association, which has been lobbying Congress for more lenient legislation on behalf of the nation's biggest banks. "Those that manage their credit well will in some degree subsidize those that have credit problems."


The age of Bush/Obama economics.

I have never ever had a credit card. Last wife did and I must admit it was handy at times. My philosophy has always been the brown bag. Get your money and place it in the bag, take it out as necessary, when the bag is empty wait until there is more to put into it. It has worked out great for me!

I have never ever had a credit card. Last wife did and I must admit it was handy at times. My philosophy has always been the brown bag. Get your money and place it in the bag, take it out as necessary, when the bag is empty wait until there is more to put into it. It has worked out great for me!

Well, you're gonna have to be punished for that and help to subsidize those who don't follow that kind of thinking. Call it 'grab' bag. :lol:

Im a deadbeat :killingme

I use the cards like cash, then just pay them when the statement comes in.
If I dont have the cash to pay for what I put on the card, I dont get it.

I owe on my house, and my truck, and a now very small amount on the camper.
boat and wifes car are both paid for.

I don't believe in credit cards. I have a pre-paid and a check card. If I don't have the money to buy it, I don't buy it. Screw interest.

Well, you're gonna have to be punished for that and help to subsidize those who don't follow that kind of thinking. Call it 'grab' bag. :lol:

Exactly, I'm gonna put 10k on mine and let you guys help me pay it off; Uncle O said you would, whether you like it or not! :howdy:

Exactly, I'm gonna put 10k on mine and let you guys help me pay it off; Uncle O said you would, whether you like it or not! :howdy:
go for it and I will max out my AMEX. I can run 100k up on that.

bust out the piggy bank and let me take this moment to thank you for my new car.

go for it and I will max out my AMEX. I can run 100k up on that.

bust out the piggy bank and let me take this moment to thank you for my new car.

That's what friends are for.....

Im with BCP and use it like cash. I have paid interest 1 time in 13 years on a credit card. I also travel and have to use one.

I don't believe in credit cards. I have a pre-paid and a check card. If I don't have the money to buy it, I don't buy it. Screw interest.
That's where you have it wrong. You seem to be of the impression that people use credit cards who don't have the money to immediately pay for it. That's not the case at all. As DN said (quote below), alot of people pay off their debt immediately, interest free. You just need to be smart and know how much money you have available, just like with a check card. If you try to overdraw a check card, you're penalized.

Pre-paid cards and check cards are much tougher to recover money from when stolen. Credit cards are much easier. It's not just a convenience, but an added safety feature. But for people who are irresponsible and can't keep track of their money then yeah, credit cards are a bad idea since they might overspend and be stuck paying interest.

Im with BCP and use it like cash. I have paid interest 1 time in 13 years on a credit card. I also travel and have to use one.

:yeahthat: It's just easier to use a credit card than to constantly grab money from an ATM or deal with knowing EXACTLY how much money you have in your checking account at any given time. I try to keep a minimal amount of money in my checking account, use my credit whenever I can, and pay it off at the end of each pay period.

It sucks that credit card companies are having their hands tied and it might end up penalizing the users who actually pay their debts...

Just another way to screw the responsible citizens who pay their bills on time and bail out the ones who don't. Our country is bass ackwards :smack:

On the rare occasion I use one, I pay it off immediately when the statement comes. The second they try to penalize me for that is the second I cut that mutha in half and go back to writing checks.

Credit card companies are expected to change their policies on your card.

yeah they are raising their interest rates before O'bama's policies go into effect

That's where you have it wrong. You seem to be of the impression that people use credit cards who don't have the money to immediately pay for it. That's not the case at all. As DN said (quote below), alot of people pay off their debt immediately, interest free. You just need to be smart and know how much money you have available, just like with a check card. If you try to overdraw a check card, you're penalized.

Pre-paid cards and check cards are much tougher to recover money from when stolen. Credit cards are much easier. It's not just a convenience, but an added safety feature. But for people who are irresponsible and can't keep track of their money then yeah, credit cards are a bad idea since they might overspend and be stuck paying interest.



:yeahthat: It's just easier to use a credit card than to constantly grab money from an ATM or deal with knowing EXACTLY how much money you have in your checking account at any given time. I try to keep a minimal amount of money in my checking account, use my credit whenever I can, and pay it off at the end of each pay period.

It sucks that credit card companies are having their hands tied and it might end up penalizing the users who actually pay their debts...

Most people do use credit cards because they do not have the money to immediately pay for it. Atleast most people that I know. I can only assume that I'm correct. That's how credit card companies make their money. If most of their customers paid their accounts off ever month the credit card companies would go bankrupt.

Most people do use credit cards because they do not have the money to immediately pay for it. Atleast most people that I know. I can only assume that I'm correct. That's how credit card companies make their money. If most of their customers paid their accounts off ever month the credit card companies would go bankrupt.


Did you meet Beta this weekend? If I would have come earlier and he was there you could have known two that do it that way. Oh and if BCP was there that would have been 3.

Credit card companies are expected to change their policies on your card.

From the article:
"Those that manage their credit well will in some degree subsidize those that have credit problems."

Despicable. It's too bad the wrong deadbeats are going to be punished. Such is the way of this brave new world of Hope & Change...

Despicable. It's too bad the wrong deadbeats are going to be punished. Such is the way of this brave new world of Hope & Change...


Nah just get a different card. There are and will be plenty of options.