Comments | cyberangel_: And today's rant is brought to you by Bank of America, SunTrust et al. . .

cyberangel_

And today's rant is brought to you by Bank of America, SunTrust et al. . .

May 19, 2009 10:38

Today the US Senate passed a bill in regards to business practices for credit cards. Like many congressional bills it was a compromise all around. While consumers didn't get interest caps they did get 45 day notice on increases in interest rates and the 6 month reset policy. Issuing banks aren't having to lower prices to retailers over " ( Read more... )

Comments 1

javagoth May 19 2009, 20:35:06 UTC

When people condescendingly tell me they have NO CREDIT CARDS and never will my usual response is - congratulations - you have little or no credit! These folks will later cry when they can not get a loan - because they HAVE NO CREDIT RATING. I try to explain to them that until or unless they get a credit card or maybe a car loan an prove they can pay back money loaned to them responsibly - the banks don't feel very warm and fuzzy about lending money. It's more than not having a lot of debt ( ... )