Obama Pledges Protections for Credit Card Users

[badllvlloon]

How is he protecting the users when all my credit cards interest rates doubled? Yeah let's pass a law and give the credit card companies enough time to raise the interest rates up the arse while they lower your limits. Obama you effin fraud!!!!!!

[casper18nyc]

1) "THE OBAMA DECEPTION" LOOK IT UP 2) ZEiTGEiST - THE MOVIE 3)NORTH AMERICAN UNION & RFID Chip TRUTH! Must SEE

some serious shit!!!

[moosiklvr30]

"Protection for credit card users?" Who's going to protect us from Obama's wild spending?

[wander1273]

I was listening to what he said and what he has to do is straighten out the companies and tell them to stop their freakin bullshit with these rates and aprs. if the card companies keep doing their practices how the hell do they figure people are going to pay off. impossible

[AmericanYokel]

Obama needs to stay the hell away from the credit industry so he doesn't ruin that, too!

And exactly what "practices" do you speak of? Are you talking about the "practices" outlined in the agreement you agree to by signing your signature when you apply for the card? Ever heard of READING THE FINE PRINT? It describes how the APR is calculated and the conditions under which it may be raised or lowered.

If you're too damn stupid to read the agreement before signing it, you DESERVE to be screwed!

[babs471]

This is not going to prevent people from abusing credit cards.

[metaspore]

GOGOGOGO BARRY!

[doesitmatter2you]

It's about time. We need credit, but have no ability to negotiate contracts, so the consumer has zero leverage. Two pages of legalease is not clarity nor honesty, when you speak in "jargon" to a non industry individual they often do not understand

These companies intenionally blur the truth and understanding with their contracts to get as much money as possible, greed

If I could get along in America without them I would not ever patranize a bank or credit card. But they ensured dependancy.

[furmountain21]

Take some responsibility..but "not taking responsibility" is the rage now that he's in office. He acts like all of a sudden people's rates just double...there is plenty of clarity if people bother to read and show restraint. Ever heard of that?

[lariatin]

What an uninformed ret*rd. Newsflash: credit card companies ROUTINELY DOUBLE -- yes, double -- interest rates on consumers who HAVE GOOD CREDIT AND PAY THEIR BILLS ON TIME; what part of that involves credit card holders' lack of responsibility?! The credit card companies even yank back credit limits specifically to create over-limit situations that they then penalize with fees and rate hikes. So, yes, all of a sudden people's rates DO just double! Try to inform yourself before commenting.

[furmountain21]

That's funny...I've never had ANY trouble with credit cards. Keep being the loser liberal you are. You are a liberal...right?

[doesitmatter2you]

It's about time. It kills me to know my society requires or traps me into needing credit to get a house, utilities, most products, but only options for our contracts favor them and rape me and I have ZERO options except to leave the country, which is ridiculous.

We know capitalism left to it's people failed twice in one century, the government must regulate.

And for dumb ass below me furwhatnot, we are still a democracy, it's just that it's finally working that is why you are scared.

[furmountain21]

Our first Communist President.

[doesitmatter2you]

Communism - a form of socialism that abolishes private ownership.

Credit card companies still own themselves. The banks still own themselves or they would have told the government where the bailout money went.

[texas224]

Larry Summers fell asleep during this meeting.

[beauzackosta]

I think it is a good thing to keep credit card interest rates as low as possible. That way, when the people who bought stuff they couldn't afford finally realize they can't pay it back, there will be less "bailout" needed from the federal govt. The credit card default rate is through the roof - and they are the next ones who will get a trillion dollars out of your taxpaying ass.

[wander1273]

hey there

I am tired of hearing bailout.

if the card companies try that phony bullcrap I will send a message to them that they are a disgrace.

ge money and target refuse to lower the rates.

they will learn

[fatmoleman]

Doesn't he mean protection for the Credit Card Companies?

[furmountain21]

This is the worst President of all-time. How much plainer can the credit card companies be about terms of payment.

The whole country is illiterate and black I guess.

[arequipa1]

thank you. this is just more "protection" for deadbeat losers who don't pay. it's really tiresome.

[martinmary555]

Good news!!! martinmary555 catch my video

[xavierartorivs]

Another friend who has a BOFA (should be renamed BOHICA) got a letter in the mail last week stating they will now charge 14%. Never a late payment and always paid on time. BOFA's reason is that in a down economy they must find new methods to generate revenue. Basically if you are on time, they will continue to raise that interest rate until they can hit the near breaking point of the customer being late due to excessive interest rates. I think they are trying to recoup their stock crash.

[xavierartorivs]

A coworker once had a credit card stolen from his apartment mail box. He didn't know about the card, someone maxed out the card at $10k. Because he was "late" with a payment for a stolen card that originally had a zero balance, a universal default (BS reason) triggered his 1st credit card to start charging 21%. Even with documents from the sherrif's office the bank still refused to lower that percentage rate.

[FunitProduction10]

Obama needs to come correct instead of saying '' um ah ah '' lol but other then that his speeches are GREAT. shows passion of a leader.

[4U2TakeBackAmerica]

Obama loves those camera "clicks" even though Digital Camera's don't make that noise anymore. Maybe the White Reporters can't afford Digital Camera's and are still using the 80's models.

That's our phoney non qualified president making a distraction while his controllers dismantle the United States.

Search Youtube: Hal Lindsey - Global Government Rising.

[3star2nr]

sweet you watched a video now you know how the world works good for you

[Nihawmah]

People here are too stupid enough that when we try to support our president with positive comments these dumbasses give the "thumbs down".

You're part of the problem, why not try looking at most of the good task he has accomplished in just 100 days compare to the last administration?!

[wideawake123]

"...why not try looking at most of the good task he has accomplished..."

And what would they be? He's quadrupled the deficit, weaken our national defense, lowered our standing in the world to where all our enemies are laughing at us, and he's apologizing to them. Name another world leader in history who toured the world apologizing, blaming his own country? Name another leader who's said "don't blame me... or It's not my fault". He's already borrowed and spent more $ than anyone in history.

[Nihawmah]

A great leader plants humility and reaps greatness.

Clearly by your comment, you know nothing about it.

[wideawake123]

When the school bully takes your lunch and eats it, is also giving him your lunch-money and arranging to do so on a daily basis considered "planting humility seeds"? Obama's been pwned by the Taliban, The N. Koreans, Castro, Ortega, Chavez, France, King Abdullah, The Chinese, and oh yeah...Teenage Somali Pirates. No POTUS has ever failed so many and such simple foreign policy tests so miserably so quickly... Ever. He's a disaster.

[budavol]

Utterly ridiculous, bigoted 'bitch. Obama is ALREADY a SMASHING SUCCESS compared to FAILED BUSH. The Republican party is in shambles and the hard-right rump isn't satisfied that it is foundering enough. Get ready for two terms of Obama, bigoted 'bitch. America is FED UP with right-wing know-nothingism.

[redwolf481]

quadrupled the deficit fixing what was done for 8 years by a republican presidant...who also before leaving office did the same thing making a package,our national defenses aren't weaker and the rest of the world RESPECTS us more than ever...republican your way of life is over deal with it...its not just obama times are changing..you may have been conservative with money but your spoiled kids arent

[wideawake123]

"...Your way of life is over..." - A teenage crackhead who alternates between political punditry, and Final Fantasy. Yeah, you know lots about lots...How were you at "Half-life".

[redwolf481]

lol...did you go through my favorites lol..I just added final fantasy scores I loved as a kid..if you go further i HAVE SOME PRETTY INTRESTING STUFF ON THERE...please guy...and I am nearly 24 not a teenager sir and youd be surprised at my life experince..please

[wideawake123]

Wow, nearly 24...like 23 and 1/2? I dont care if you spent the last 5 years immersed in history, You have no idea what you are talking about. All you know is that Obama is "cool" and Bush was a criminal. That makes you a programmed democrat. You were indoctrinated, and you remain so. It took Bush 8 years, 9/11, dot com crash, 2 wars, and TARP pt. 1 to rack up ALMOST as much debt as B.H.Obama has in 100 days. Bush may not have done a good job, but this is on "O". 100 billion to the IMF This Week!

[AmericanYokel]

The world respects us more than ever?! You're delusional.

[arequipa1]

don't be absurd.

[SupportingMyself]

Hey Obama. How about we barrow your credit card for awhile? I promise i'll give it back...(Not)

[Nihawmah]

comments like that are pathetic!

[SupportingMyself]

Your grammar is pathetic.

[Nihawmah]

Who was being delusional by making an idiotic remark? You

So next time try reading between the lines and think.

[SupportingMyself]

Your grammar is exceptional now. did you just pass 1st grade?

[Nihawmah]

You know I can't really tell if you're severely demented or an outright imbecile who

highly fonds words.

I guess you're a bit of both.

[SupportingMyself]

That was a high dose of sarcasm. FYI: Your bad at hiding that you believe in NWO. Kind of like me. But im better at it.

[Nihawmah]

You just proved how weak minded you are by having conspiracy theories as your primary source of news - Pathethic.

You watch one video and think it's the best thing you ever bought.

[SupportingMyself]

Not really. I kind of think AJ lacks in some news. Infowars is quite a reliable source though. Why you have conspiracy theorist movies in your favorites? Oops. You failed.

[Nihawmah]

Have you ever heard of self-research?

These are reference for speculating back and forth with todays current news.

I guess incorrigible minds like you aren't familiar with it because NWO is coming right? haha

[SupportingMyself]

Can we just move this shit to PMs. We can make it a hardcore battle there.

[accountability4all]

yea!!!!!!!

obama, obama obama you go obama

[acardworld1]

Why don't they do something about the people who steel your identity and charge on your credit card. I had perfect credit once until they wanted me to pay for something I never bought. Ruined my credit!!!!!!! Congress just doesn't get the real world! All the idiots out there preying on all of us constantly. My phone rings and tells me I got stimulus money which I know is a scam!

[17brandiff]

Good Job Obama!!

[gungagin]

I like that he tries to get all sides of an issue before he makes a move.

Thanks President Obama!

[arequipa1]

jackass.

careless credit card users who don't pay their bills are PART OF THE PROBLEM. christ i'm so sick of this guy's act

[SkyDaddy7]

You really are proud of your ignorance, huh?

No need in calling on mythical deities as it won't help...President Obama is doing what is right and the American people appreciate that!

[arequipa1]

skydaddy: squash

[gungagin]

1.) He's not a jackass.

2.) True, folks who don't pay their bills ARE part of the problem.

However, those of us who DO pay our bills should not be penalized by the same banks who already received bail-out money.

[arequipa1]

he doesn't care about people who DO and CAN pay their bills.

[gungagin]

I disagree. I think he cares about all Americans.

That's why he's trying to compromise and help everyone.

[arequipa1]

i think you are wrong

[handsomejfp]

first ehheeehehehehh