Should all abusive credit card products be banned or all credit cards?

In light of the fact that I and evidently many others have been abused by credit card products when a payment was missed by jacking the rates up to an unfordable can never repay rates. Should just these products be banned or should government regulations be put on these companies to allow each credit card holders penalties be set at a maximum per year, per mo. or a percentage of their income .

We have all had a missed payment for various reasons. With the open ended contracts allowed by our government over the last 7 years we can be penalized financially the rest of our lives. Not only with the jacked rate but dammage to credit report.

SHOULD THE GOVERNMENT PUT A LIMIT ON HOW MUCH THE CREDIT CARD COMPANIES CAN PENALIZE US?

Should all abusive credit card products be banned or all credit cards?

No, but better disclosure laws and requirements should be passed.

Should all abusive credit card products be banned or all credit cards?

Contrary to your opinion, most people pay all their bills on time. They have no problem with late fees, overlimit fees or even high interest rates. Most people have basic money management skills and don%26#039;t need government regulation to protect them.

The credit card companies are not abusing you. You are abusing the credit cards by charging more than you can afford. You live beyond your means, fail to live up to your end of the contract, then blame everyone else for your problems.

If anything, credit card companies should be tightening the approval process.

Should all abusive credit card products be banned or all credit cards?

Don%26#039;t play with snakes and you won%26#039;t get bit.

Credit cards are designed to get you into debt and keep you there.

there is no good reason to have a credit card.

Should all abusive credit card products be banned or all credit cards?

The %26quot;government%26quot; is already working on laws to regulate some of these credit card rules. Check out the link below.

The problem is they are being spearheaded by Senator Levin. But he is also a leading member of the Senate Defense committee, and seems to spend most of his time looking for ways to interfere in the Iraq war and drum up problems for Bush. Helping consumers with credit card problems doesn%26#039;t seem that high on his priority list....he%26#039;s been harping about this bill for a few years now and it%26#039;s not going anywhere.

Should all abusive credit card products be banned or all credit cards?

No. We live in a free country. You have the right to decide to accept a contract or not. When states pass laws to restrict %26quot;pay day%26quot; and %26quot;title%26quot; lenders, people scream that they don%26#039;t need big brother, they need a loan.

Besides, the credit card companies have to make money somehow. The card companies couldn%26#039;t stay in business servicing the 48% of card users who pay in full each month, don%26#039;t pay interest, have no-fee cards and just use the cards to get the rebates.

Should all abusive credit card products be banned or all credit cards?

Sounds to me like it really screwed you in this deal. Maybe you could get good luck here.http://creditcard.online-supporthome.inf...

Should all abusive credit card products be banned or all credit cards?

YOU have full control over the expenses of your credit cards. I for one have NEVER missed a payment and I dare say there are many, many more here who can say the same thing.

If this were a 1 time thing and you had calmly called the card company they would have likely removed the fee. If that is the way you handle your cc accounts on a consistent bases then no they will not %26quot;understand%26quot;.

Interest rates have no mean to me I never live beyond my means with a credit clard that I do not pay off monthly.

Here is a shocker for you with all the BK questions and how can I screw my creditors out of the money I owe them there are actually people who do live financially responsible lives.

Should all abusive credit card products be banned or all credit cards?

If you feel that you may have an issue making a payment late, then you are right in not taking the responsibility of owning a credit card. There are many things credit card companies do to take advantage of the unwary client. Personally, If I loan someone something, be it money or an item, I get peeved when I don%26#039;t get it back.