Credit card bill

[desertrat (Premo)]

What do you think? Will it make it with this gun rider attatched?

Credit card bill might allow guns in National Parks - May. 14, 2009

WASHINGTON (CNNMoney.com) -- What do guns have to do with credit cards?

Not much. Except they both share space on a bill that lawmakers want to deliver to President Obama's desk by Memorial Day.

In a surprising move, the Senate voted 67-29 on Tuesday to attach a measure that would allow guns in national parks to a bill that cracks down on credit card fees.

[dn0121]

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I haven't had a chance to read about it yet but the morning news was stating that the credit companies would be able to start charging interest as soon as it is swiped. I'm interested in finding the truth about this because I pay mine off every month and not having a credit card would be difficult.

[Vince]

Originally Posted by dn0121

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I haven't had a chance to read about it yet but the morning news was stating that the credit companies would be able to start charging interest as soon as it is swiped. I'm interested in finding the truth about this because I pay mine off every month and not having a credit card would be difficult.

Heard this on the morning news. I'm ready to cut my credit cards up an stick to debit cards.

[dn0121]

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For travelers using a debit card is a nightmare.

[dn0121]

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PS. That's also why I want to read about it. The news sensationalizes everything.

[STAYATHOMEMAMA3]

Originally Posted by dn0121

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I haven't had a chance to read about it yet but the morning news was stating that the credit companies would be able to start charging interest as soon as it is swiped. I'm interested in finding the truth about this because I pay mine off every month and not having a credit card would be difficult.

What about a CC that is not used?

[Larry Gude (Premo)]

Originally Posted by desertrat

What do you think? Will it make it with this gun rider attatched?

This is one of those 'sausage making' moments where, if you like the add on, it's good government, if you don't, it's one of the things wrong with our system.

Given all of the 'pop' credit card reform has been given of late, sounds like it will pass.

On another note, the credit card issue itself is very much like Fanny and Freddy; government pressure on extending credit to everyone.

The politicians get to tell their constituents "Free Lunch!", the credit card folks get interest rates compensatory to the flood of unsecured credit and attendant defaults that they will be dealing with, the professionals in government get another tool for tracking the citizenry and business gets more consuming going on while anyone in office during the boom of credit gets the luxury of a 'sound' economy.

Then, when the boom goes bust, who is that I see coming over the ridge in the nick of time, guns blazing? Why, it's government to the rescue to "fix' the problems.

The problems that, once again, government created.

And some other pol, in the rush to do good, gets what he wants on an erstwhile unrelated issue.

[Mike (Premo)]

Originally Posted by Vince

Heard this on the morning news. I'm ready to cut my credit cards up an stick to debit cards.

I'm again PO'ed that the responsible folks that play by the rules will again be punished becaiuse of the MORONS that sign into a legal agreement, break, it and the Socialists use it to step in and punish the law abiding citizens.

I charge $4000 to $7000 a month on my Discover Card (used by my wife & I for every purchase) - many "automatic bill payments" linked to it.

We pay in full each month. I enjoy hefty casback bonuses every year. Seems like I got more back in Casback savings last year than I made in my 401K.

Now that Obama and his band of nannies are stepping in to help I will gladly change my ways and cut up my card if Discover has to:
1 - charge an annual fee
- or -
2 - start charging interest from the date of purchase

I can't believe for a minute that ANY amount of credit card rule changes will assist or change the level of ignorance of the people that aren't responsible enough to use a credit card in the first place.

Is Obama doing for the credit card industry what he did for banks and the auto industry? Of course he is. He is the grand wizard of the wealth destroyers. And the filthy Republicans that voted for this bill should be voted out, too. They are Socialist party sympathizers.

[Larry Gude (Premo)]

Could someone show me where credit card companies are being given the right to start charging interest at time of purchase?

That's not on the link. LIMITS and changes in favor of the consumer are in there. I must be missing who in their right mind is contemplating the outrage of people objecting to being charged interest day one.

[dn0121]

Larry-

Its the media, well Fox this morning that was stating this. As I said, I need to read about it myself before I believe what any news outlet says.