Way, Way Too Late
Obama pledges protections for credit-card users
"President Barack Obama said Thursday he is determined to get a credit-card law that eliminates the tricky fine print, sudden rate increases and late fees that give millions of consumers headaches.
"I trust that those in the industry who want to act responsibly will engage with us in a constructive fashion..." blah blah
A little over a year ago, the credit issuers knew what was going to happen last fall and began to hammer credit card holders. Believe me, I know. The creditors used every trick in the book and then some to screw the public, even people with sterling credit history, before the crash.
Their war beagan. They hid their unilateral interest increases in tiny print in the avalanche of paper adverts they packed with each statement. Every time an institution looks at your credit history it goes down and the major banks began a monthly perusal, because it's in their interest to have us all credit risks, that way they can squeeze more money from us. Even people with unblemished history began to be hammered. Accounts were closed with no reason. Monthly minimums doubled. People were crushed for no reason except for corporate profit. And Mr. Change thinks a few cosmetic makeovers will sweeten the carnage.
The Great Credit Card Battle To Come
"
"President Barack Obama said Thursday he is determined to get a credit-card law that eliminates the tricky fine print, sudden rate increases and late fees that give millions of consumers headaches.
"I trust that those in the industry who want to act responsibly will engage with us in a constructive fashion..." blah blah
A little over a year ago, the credit issuers knew what was going to happen last fall and began to hammer credit card holders. Believe me, I know. The creditors used every trick in the book and then some to screw the public, even people with sterling credit history, before the crash.
Their war beagan. They hid their unilateral interest increases in tiny print in the avalanche of paper adverts they packed with each statement. Every time an institution looks at your credit history it goes down and the major banks began a monthly perusal, because it's in their interest to have us all credit risks, that way they can squeeze more money from us. Even people with unblemished history began to be hammered. Accounts were closed with no reason. Monthly minimums doubled. People were crushed for no reason except for corporate profit. And Mr. Change thinks a few cosmetic makeovers will sweeten the carnage.
The Great Credit Card Battle To Come
"
posted by nolocontendere at 10:44 PM
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