Credit Card Reform in Action

[makeiteasyable]

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[TheBug1961]

When are politicians going to stop taking bribes from lobbyists and kick these companies in the ass? Now that would prove that you really give a damn about Americans

[kokofan50]

@TheBug1961 When who ever raises more money wins 94% of the time

[Maxxmentum]

Great stuff amigo :)

[oma51511]

Funny, but it makes the point.

[mrmexaw20]

funny there's a bank of america adds on the right side of my screen while im watching this telling me about their latest low rates

[Launchpad05]

'We're making such mandatory offer because we're the federal government, motha fucka!'

[Gi1985Gi]

Brilliant!!!

[MaskedMarvyl]

Before credit reform went through (which was minimal), the credit card companies jacked up rates and fees as much as possible so that when they were regulated..... you guessed it... they came out about even. The banks did the same thing; how About that??

By the way, I paid off my credit cards and my credit rating got LOWERED almost 50 points. You see, you have to have multiple credits open to have a "good" credit rating. Get how that works?

"Stay in Debt or be Punished, Slave..."

[brandtaylor93]

you just gave them 2!!! new ideas....

[jackchief]

I had $12,00 and $8,000 credit cards at 29% , the banks raised the rates from 8% because of "universal default" , this is despicable!. My attorney told me to send them a certified letter to not call me [by Federal Law they must stop]! This is a "Federal law". . Then he suggested that I don't pay for about 4 months at which time they'll get someone to negotiate. I didn't pay and I won't so I save $300 a month. my credit score is low.. but so what! Call a free state Attorney or any Attorney!

[poldiddy]

Who is the mindless idiot who posted this without addressing the reality caused by this misguided Democrat credit card bill. Now people with so-so credit who before qualified for&were able to get high interest credit cards-are out of luck,because these cards are no longer offered. Instead these people are forced to get overnight loans at pawn&check cashing stores at interest rates 10 to 50Xs higher than were the high interest credit card rates. 235%-575% is the average rate for these places

[ekpil2000]

@poldiddy

Could try creating a country that doesn't put people in the position of being indebted in the first place.

[mwired2]

I have to 'apply' for a credit card but the banks don't have to 'apply' to use my money to borrow to their customers ... whats up with that...

[amoignis1987]

@mwired2 Because your money isn't a loan in the traditional sense. You are free to take it back whenever you like. A credit card company has to follow their agreement with you and only bill you for what is owed. They can't just say "Alright, give us back all the money we gave you". You, on the other hand, can, at any time, go to the bank, close your account, and take the money.

[iTzxXDaRkOnEXx]

@mwired2 in one they did ask you if they could use your money it happened when you or i signed up for a bank account and when you signed all that paper work

[dac38555]

My last credit card was 8 years ago .. ditched it in 6 months and never had any debt after that. Got no credit score, dont care about it and donot deal with anyone who asks for it.

[wentafew]

@dac38555 Good luck buying a house.

[dac38555]

@wentafew already have a decent one .. off of savings only. Didnt need to borrow a dime.

[wentafew]

@dac38555 rrriiiigggghhhttt... rrrriiiigggghhhhtttt.... so you lived with your parents until you were at least 30... lets see if you managed to save $10,000 dollars a year from the time you were 20 you might have been able to buy a slightly less than decent house.

Forget college, a girlfriend or wife and children...

sorry for the sarcasm, but please, do tell your secret on how you managed to save and purchase a home out right.

[dac38555]

@wentafew Why do i suspect that it has been your story all along. 10K savings a year will get you a house eventually in 50 years - most likely you'll default lose that too. And FYI, I did go to college - a good one and so did my wife who was my girlfriend at that time. Secret ?- lets just say that your math's wrong - when you consider 2 well educated members of the family earning enough to save 350K in 4 years (Avg cost, small town,michigan). Sorry dude .. never worked at BK.

[wentafew]

@dac38555 Lol, the bullshit meter keeps going up and up... If making up imaginary stories makes you feel good or you think it proves your point go right ahead, but I ain't picking up what you're throwing down...

Based on your stories, you're a 20 year old kid living with his parents, maybe going to college, and have no clue what the real world is like.

I wonder how many wealthy people that can afford to save 100k a year, let alone make 100k a year, spend time on youtube.

[dac38555]

@wentafew Allright .. calm down .. whatever makes you happy. If it means I am a 20 year old (ever google anyone before) living on trash with no family, kids and apparently earning a minimum wage . So be it. The important thing is that you stay cozy. Its cool ..dont sweat it.

[dac38555]

@wentafew I wanted to leave it at that - my previous post , but let me notch up your amazement factor a bit. I fully expect your perceived bullshit meter to crack here - but hey - not my problem. What if i told you that both me and my spouse have been for a fortune 100 firm (Forune 58 - 2009) ? What about working from home "full time" for the past year out of 8 for the same above mentioned company? Saving 80-90K/yr is easy if you make the right choices in life. At 33 what do you do?

[wentafew]

@dac38555 lmao... I hope u wear a turbin because you're so full of shit it must be oozing out your ears. I'm a teacher... no I don't make a lot... I am middle class and saving up and buying a house outright is not possible... at least not within reasonable time... credit through a lending institution is middle classes only option... you know middle class, the majority of America...

You can keep talking out of your ass, I'm done.

[dac38555]

@wentafew You dragged me into a debate with a very specific set of questions, kept making lame remarks about my personal life - I didnt. I never asked anyone to stop using credit cards... all i stated was my experience and success at not having one. It seems you still are in denial that it is possible. Also turbin comment was laughable and ill-informed. A takeaway for you - dont try to mess with people who know what they are talking about - gets you burned all the time. ciao

[wentafew]

@dac38555 Ya. I just can't keep my mouth shut. You don't know what the fuck you're talking about. Even if you are not what I described. Those comments were more facetious than anything because your claim was so far fetched. I still don't believe your story. Maybe it's true, maybe your 1 in a million and there's only 300 of you in the US. Anything is possible.

To the real world though, credit is important. And if you plan on owning a house, you better keep good credit and try and earn a lot.

[dac38555]

@wentafew 18% of US adults to be precise and not 300 of people like me in the US. That would be 38,000 in your town itself.Also teach, be a bit more informed next time.

[drinkmoresoda]

i remember when the credit cards were still trying to play fair as depicted in this cartoon but now they are just insain

[Tyjohnable]

Left handed fees apply to right handers 2

[assface567]

Although i do absolutely agree that what the credit card companies were doing was crazy, the credit card reform that was passed is worse then what the credit card companies were doing. The fact is a step away from credit and credit cards in general is what this economy needs.

[LefTNetwork]

Very well done. Thank you

[madnes45]

@xethtoon you fucking cock sucker you thnk its a good thing that credit card comanys ripp people off how big of a peace of shit are you and the 16 people that thumbd up this comment .so they try to fucking rip you off any way they can like putting extra costs on thing fucking with you they make you call them they will do anything theyll say sorry we can authorazed to do that or they will give you shit up to the very end so now cock sucker tell me why thats good (theyr not even as bad as irs)

[MonstahhB]

@madnes45 Oh my god. Idiot. That was sarcasm.

[Tyjohnable]

@MonstahhB

Why bother replying to madnes45 he's obviously one of those people who thinks the Onion is real and Steven Colbert is serious.

When I see people like that I just hope there sterile.

Witch isn't to hard to imagine he probably took the door off his microwave a long time ago so he could watch his pizza rolls cook :)

[neoharvester]

Credit Card Companies are just that. Companies. They run a business. When you get a credit card, and start CHARGING LOL CHARGING CHARGING your going to get screwed by them. There is interest. There are fees. If you want to avoid them, do not do business with the company.

[jungian9111]

This was perfect after watching all the video's about Goldman Sachs today Chief!

[murdelabop]

LOL! "...you don't have any cash anyway." The really scary thing is that if you do have cash, and like to carry it in large amounts, police can impound that cash and charge you with money laundering.

[neoharvester]

@murdelabop

Anyone walking around with over ten grand is just waiting for a mugging to happen

[murdelabop]

@neoharvester Granted, but that's the way a lot of people did business before credit cards were invented. Try it today and you're likely to find some TLA's knocking on your door.

[RaymondHng]

Hey, I recognize this music soundtrack. It's "Springboard" by Kevin Harris.

[RoyNeary]

@RaymondHng Not sure if I should applaud your memory or make fun of you for actually listening to it!

[RichGilly]

Who cares? As long as I can afford my McDonalds and Xbox

[drj260]

Please. What about when you Xbox breaks. And you can't buy McDonald's and pay LIVE at the same time (One or the other)

[harleypiper]

And did any one on capitol hill tell the credit card companies they were ripping the public off by legally extorting?

no....gee why?

cause credit card companies execs.

like to play golf with guys who run capitol hill.

[MAX3D2]

AWESOME..... !!!!!! I hope these credit card companies.. eerr.. Banks? Go bankrupt.... maybe "We the People" can foreclose on those bastages. Hey credit card company CEO I have cardboad box for ya to live in!

[zxcv1234vcxz]

So where's the humour? Where are the made-up exaggerations of what credit card companies do or want to do? Everything in this video is stuff they do now or would try if they could get away with it.

[Inkunmingnow]

Imaging what health care reform will be like

[marcostar57]

LOL!!! Gawd ..help us ... !!

[My2favcamps]

LMFAOBOY! boy mean Becuz of u btw :D

[bowlingballout]

Outstanding on all fronts!

[Munderwood2004]

I'm already a part of the chase screwu protection plan. When asked if I can opt out, they say screw u our systems aren't designed to allow individuals to opt out, while that 71 cent banana ya bought at the store could cost you 32 more if chase manipulates your account right.

[ReddzVoice]

ROTFLMBO!

[EweToobUsername]

This just makes me want to willingly sign up for S.C.R.E.W.U. lol

[xethtoon]

Gosh, you make credit card companies ripping people off sound like a bad thing...

[TimmyHaag]

I am so happy I never got a credit card, dealt with being a poor bastard , and didn't become a republican asshole later on.

[neoharvester]

@TimmyHaag

Many of the Republicans I know do not own credit cards either.

I do not see your connection.

[TimmyHaag]

@neoharvester

Excuse me and allow me to clarify; I should of said "typical hypocritical republican."

[Greginda11]

@TimmyHaag

Got 1 Card (visa) and i live in Canada where the government prevents crap like this. (there still is some but for the most part it doesn't happen) I love Canada and i feel sorry for America in having to deal with republicians and these companies.