05-20-2009, 07:53 PM
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Greenhorn
Join Date: Dec 2006
Location: Killa Cali
Age: 22
Posts: 15
Rep Power: 0   |
credit card legislation
so what do you guys think of the credit card bill (and attached guns in national parks...
 ) that just passed through congress? the banks claim that the standards are too tough and that they'll choke credit, but to who?
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05-21-2009, 09:09 PM
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Super Moderator
Join Date: Aug 2006
Location: West Coast
Posts: 773
Rep Power: 6 |
i don't care if they choke credit. it will give better interest rates to those who qualify for credit. the credit card companies pray on those who are underqualified so that they charge ridiculous rates.
also, it will increase the security of the credit company by forcing them to have more stable assets (ie the credit that they give). if they are more picky on who they loan to, they will get a better return from the loans and less payoffs. in the long run i feel that the card companies will be more stable even if they dont' have as much revenue.
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05-22-2009, 04:00 AM
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Administrator
Join Date: Aug 2006
Location: Central CT
Age: 30
Posts: 739
Rep Power: 10 |
I think it's a good thing, but i don't like that its government mandated. I wish it was some 3rd party 'union' of some sort (kinda like Cirrus/Nice for ATM's) and such.
nothing worse than wondering what your interest rate will be fir this months bill....
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