The Evil Credit Card

Credit Card companies are the only companies that can raise the price of something after you have purchased it. The question asked is do you support a regulation limiting the increased interest rate to future purchases. This gives the consumer the ability to decide if they want to make purchases at the higher rate, or stop using the card.

Category:

People & Blogs

Tags:

• Credit
• Cards
• Presidential
• Debate

[brouhajoe]

Outstanding question, hope you edit it down a bit to give it a shot.

[douglas623]

Thanks, I am going to try.

[Anothercoilgun]

If you have an emergency, use your emergency fund. "But I have no emergency fund!" you say. Well of course not. Thats because you forfeit it to the credit companies. Each time you pay interest on the card (even after one day of usage, there is no pay within 30 days for zero interest, it does not exist) you are giving part of your emergency fund to the credit company. How many months and how many years have you been doing this? Think of the size of that fund had it existed.

[allstardude192]

YES!!! Thank you Doug, this is something i have been pushing for for years!

Luckily for people like us that Obama has taken action against these companies, setting restrictions on them starting February 2010