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Thread: Credit Cards - Higher Costs Again?

  1. #1
    Senior Member WaterDogRem's Avatar
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    Default Credit Cards - Higher Costs Again?

    http://www.cnsnews.com/news/article/55854

    Great the High risk need more credit, becuase their "underbanked". Guess who'll be paying for this? The low risk account holders that pay on-time, just like whats happening from the Credit Card Bill that passed months ago.

    Isn't this type of business, pushing for increased credit to the High risk pool, exactly what started the economic downturn in the housing mortgage?

  2. #2
    Senior Member road kill's Avatar
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    Quote Originally Posted by WaterDogRem View Post
    http://www.cnsnews.com/news/article/55854

    Great the High risk need more credit, becuase their "underbanked". Guess who'll be paying for this? The low risk account holders that pay on-time, just like whats happening from the Credit Card Bill that passed months ago.

    Isn't this type of business, pushing for increased credit to the High risk pool, exactly what started the economic downturn in the housing mortgage?
    Obama will!
    "Out of his stash!!"
    I saw some folks say so in Detroit!!

    It was on the news, CNBC so it must be right!!
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  3. #3
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by WaterDogRem View Post
    http://www.cnsnews.com/news/article/55854

    Great the High risk need more credit, becuase their "underbanked". Guess who'll be paying for this? The low risk account holders that pay on-time, just like whats happening from the Credit Card Bill that passed months ago.

    Isn't this type of business, pushing for increased credit to the High risk pool, exactly what started the economic downturn in the housing mortgage?
    Pay close attention to those "Change of Terms" notices that you receive. Read the fine print. You'll find that the CC companies (like Chase particularly) are already "sticking it to" their reliable customers.

    They make more $ on the people who pay late (with the high late-pay fees & then increasing their interest rates as a result). Then they'll start whining to the govt again about their losses.

    There was a good episode of "Boston Legal" that exposed that CC companies call their good credit customers "dead beats" ... because they don't make enough money on the good customers as the ones who run up high balances and pay the high rates.

    Got a notice from Bank America that they were going to cancel my card for not using it Not making any money on me I used it just once for a small item, so that I could keep it active. Felt good to know that they could continue not making any money on me for another year.
    G.Clinchy@gmail.com
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