How Has the Spending Affected You?

[dfr52]

The government is basically forcing this. They made the credit card companies reduce penalties for people who are late on their payments...the CC companies lost a lot of money because of that...they have to make that revenue up somewhere, so punish everyone instead of just those that are delinquent. Thank the Obamastration for that one.

The companies were jacking up rates before Obama and giving high amts. of credit to people who should of never had it. These companies made enough problems for themselves just like the banking and loan industry who gave loans to people who could never afford them.

[OnePimpTiger]

No disrespect to city depts. but I have found road crews and city service workers to draw projects out as long as possible. I imagine if they were salary then stuff would get done alot quicker.

Oh I agree...99.9% of the time, the DOT takes longer than it's supposed to. And for some reason the job always requires about 5-7 more people than necessary. Those shovels won't hold themselves up! Actually, they will...hrmm...maybe they haven't figured that out yet

[OnePimpTiger]

The companies were jacking up rates before Obama and giving high amts. of credit to people who should of never had it. These companies made enough problems for themselves just like the banking and loan industry who gave loans to people who could never afford them.

I agree with that...the majority of people should never be allowed near a credit card. But I was referring to the recent rate increases. I've read several things (a few weeks ago, so don't have the links on me right now) where the CC companies said the policies Obama enacted will directly result in higher rates for regular customers.

Of course I have $0.00 credit card debt, so that doesn't bother me at all...

[dfr52]

Oh I agree...99.9% of the time, the DOT takes longer than it's supposed to. And for some reason the job always requires about 5-7 more people than necessary. Those shovels won't hold themselves up! Actually, they will...hrmm...maybe they haven't figured that out yet

My cousin's husband works for a city service dept. and he gets upset when he can't work over time. Do the work in the time given no need to drag things out and constantly milk the system.

[dfr52]

I agree with that...the majority of people should never be allowed near a credit card. But I was referring to the recent rate increases. I've read several things (a few weeks ago, so don't have the links on me right now) where the CC companies said the policies Obama enacted will directly result in higher rates for regular customers.

Of course I have $0.00 credit card debt, so that doesn't bother me at all...

We do have debt (working to pay down) and this isn't good news. The card companies should be the one's taking the hits for bad choices not consumers who handle their debts.

[OnePimpTiger]

We do have debt (working to pay down) and this isn't good news. The card companies should be the one's taking the hits for bad choices not consumers who handle their debts.

Actually, I think the people who were late on their payments should take the hit...like it was. They either dont' read the fine print to know what will happen or do and are just late anyway and screw up their credit, then the government says they deserve a break. The CC companies obviously aren't just going to take a loss on that, so they pass the buck because they can. If the people who screwed up paid the consequences for their own actions, it wouldn't have changed...but the government can't ask people to be responsible for themselves! That's trying to keep the poor poor and make the rich richer!

[dfr52]

Actually, I think the people who were late on their payments should take the hit...like it was. They either dont' read the fine print to know what will happen or do and are just late anyway and screw up their credit, then the government says they deserve a break. The CC companies obviously aren't just going to take a loss on that, so they pass the buck because they can. If the people who screwed up paid the consequences for their own actions, it wouldn't have changed...but the government can't ask people to be responsible for themselves! That's trying to keep the poor poor and make the rich richer!

I wish they would be held accountable for their business decisions where they allowed individuals to build great amts. of debt then cranked the rates up. Something seems unethical about that.

[OnePimpTiger]

I wish they would be held accountable for their business decisions where they allowed individuals to build great amts. of debt then cranked the rates up. Something seems unethical about that.

I look at that like I do everything else...the credit card companies didn't force people to build up massive amounts of debt. Just like bar owners being charged with drunk driving deaths...they didn't make that person drink a lot then make them get into a car and drive. If people were responsible with their credit cards, they wouldn't have built up the massive amounts of debt in the first place. The CC companies may have facilitated that and made it easy to charge things, but they in no way made them do it. I've never been bothered by CC fees and charges...if those charges are drowning people, it's their own fault for getting in the position to begin with. That's my .02 anyway.

[dfr52]

I look at that like I do everything else...the credit card companies didn't force people to build up massive amounts of debt. Just like bar owners being charged with drunk driving deaths...they didn't make that person drink a lot then make them get into a car and drive. If people were responsible with their credit cards, they wouldn't have built up the massive amounts of debt in the first place. The CC companies may have facilitated that and made it easy to charge things, but they in no way made them do it. I've never been bothered by CC fees and charges...if those charges are drowning people, it's their own fault for getting in the position to begin with. That's my .02 anyway.

As you can probably guess I'm on the other side of the fence on this. If the company or bartender knows or even has an idea of the customers limit they shouldn't make more credit or alcohol available.

[OnePimpTiger]

As you can probably guess I'm on the other side of the fence on this. If the company or bartender knows or even has an idea of the customers limit they shouldn't make more credit or alcohol available.

And that mindset is becoming more and more popular obviously. I'm for personal responsibility, not someone else being responsible for you. If you can't control yourself, why should that be someone else's problem?