Comments on: Good news: Responsible credit-card users to “subsidize” deadbeats now

By: The Hill’s Blog Briefing Room » MIDDAY ROUNDUP

The Hill’s Blog Briefing Room » MIDDAY ROUNDUP — Fri, 26 Jun 2009 17:01:21 +0000

[...] flee the GOP – Jed Lewison, Daily Kos GOP rallies on insurance-based plan – Scarecrow, firedoglake Responsible card-users fund deadbeats – Allahpundit, Hot Air Parsing DADT – Josh Orton, [...]

By: The Credit Card Bill – Bailing out the deadbeats « Rantings of mine

The Credit Card Bill – Bailing out the deadbeats « Rantings of mine — Thu, 21 May 2009 19:54:27 +0000

[...] a comment » Those of us who pay off our credit cards monthly now get to suffer just like the same of us who paid… Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source [...]

By: Credit-card firms already trimming rewards | csmonitor.com

Credit-card firms already trimming rewards | csmonitor.com — Thu, 21 May 2009 13:17:02 +0000

[...] the debate online in places like here and here. The reality is that the changes that critics are warning about are already taking [...]

By: triumphus

triumphus — Thu, 21 May 2009 10:35:22 +0000

Okay now – I am no fan of Pelosi or Reid but in this instance, the bankers went a little too far. Here are some of the provisions they prevent;

1. Increasing interest rates because of credit changes, so late on 1 bill and all your other card rates get increased.
2. Predatory fees. Instead of cutting of the credit and declining a charge, they charge an exhobitant fee.
3. Teaser rates that jump up to 28% after 6 months.

What this is going to result in is prevent banks from issueing cards to people who CANT AFFORD THEM. In this instance the free market has failed and once a small number of banks started these customer unfriendly practices they all picked it up. They wrong, unethical period and cant be defended.

What this is going to do is force banks to behave responsibly, stop preying on stupid people, and provide some amount of customer service to those customers who can afford thier services.

By: SuperCool

SuperCool — Thu, 21 May 2009 10:07:02 +0000

Notice that the picture shows Pelosi demonstrating her “Money Snatching Claw” for Harry.

See, Harry, yer just not putting enough effort into taking money from people who work. Ya gotta be ready with the “Money Snatching Claw”.

It’s like Tiger-Crane, for liberals.

By: Morning Briefing for May 21, 2009 - RedState

Morning Briefing for May 21, 2009 - RedState — Thu, 21 May 2009 09:00:51 +0000

[...] the brownshirts away from their homes and families, or (2) getting out of the business altogether. (Allahpundit notes the third choice of shifting costs onto good credit risks, but there’s only so much blood to squeeze from that stone directly, except insofar as [...]

By: newton

newton — Thu, 21 May 2009 03:37:30 +0000

Cash and checks work for me. My internet buys will also be a thing of the past.

Pat in NC on May 20, 2009 at 9:25 AM

That’s what Congress (the opposite of “Progress”) are not counting on: that e-commerce will irretrievable shrink once those who use their credit cards responsibly no longer choose to buy anything online, because you must use for most online transactions a credit card, of course.

Amazon.com… E-Bay… are you listening? These are your customers – your lifeblood here! Show some outrage!

By: History Chaser

History Chaser — Thu, 21 May 2009 01:45:50 +0000

I agree with with dandydon. We pay our bill in full every month. The minute it starts costing we're out of there. Hot new Summer replacement show... http://sarah-palin-2012.blogspot.com/2009/05/fran-and-man.html

By: RebeccaH

RebeccaH — Thu, 21 May 2009 00:36:13 +0000

Oh, you haven’t experienced the worst of it until you go to the grocery store and run up a whopping $60 in staples, and suddenly discover that your Visa card has been cancelled by the bank, even though you’ve never missed a payment, and your credit is excellent.

I can’t begin to describe the anger I feel. I hope some Dem pols somewhere are watching all these comments, because they should be sweating 2010 big time. Not to mention that Deadbeat-in-Chief in the White House.

By: GayPatriot » The Cost of Folly, Part I

GayPatriot » The Cost of Folly, Part I — Wed, 20 May 2009 21:59:23 +0000

[...] card companies will be changing their policies, causing those who pay off their bills on time to subsidize those who don’t. People with credit problems will thus be a little less responsible for their own folly, while [...]

By: Subsidizing irresponsibility « Internet Scofflaw

Subsidizing irresponsibility « Internet Scofflaw — Wed, 20 May 2009 21:02:25 +0000

[...] (Via Hot Air.) [...]

By: Tuesday, May 19, 2009: Daily Handpicked Headlines :: Daily Uprising :: Join the Conservative Counter-Revolution!

Wed, 20 May 2009 19:56:33 +0000

[...] Hot Air: Responsible Credit-Card Users to ‘Subsidize’ Deadbeats [...]

By: lead and gold

lead and gold — Wed, 20 May 2009 17:30:36 +0000

And BTW, Allahpundit is an idiot…

But first, some smart ideas on reforming the banking system….

By: Cybergeezer

Cybergeezer — Wed, 20 May 2009 16:39:03 +0000

So; The only alternative is to cancel the cards and pay them off at the old or current rate. Nobody’s a slave to these parasites!

By: Meet The New Brownshirts | WTF?! Obama

Meet The New Brownshirts | WTF?! Obama — Wed, 20 May 2009 16:24:50 +0000

By: This Sounds Wonderful For Our Economy « Tai-Chi Policy

This Sounds Wonderful For Our Economy « Tai-Chi Policy — Wed, 20 May 2009 15:43:12 +0000

[...] continue the practice of having the successful and prudent pay off the unsuccessful and impulsive to the credit card industry. It seems like just the shot in the foot our economy needs right [...]

By: dandydon

dandydon — Wed, 20 May 2009 15:06:20 +0000

We do all of our purchasing on credit cards (1% back into a college fund), and we pay the balance in full each month. If using the credit card starts costing money, we will stop using the credit card. If using the debit card (we have one associated with the credit card, but we never use it) is going to cost us money, we won’t use it. In the past decade I can count on two hands the number of checks we have written for purchases. It looks like we are going to have to start writing checks. We were doing what benefited us most. Thanks to President Obama, we will now do what costs us least. If that doesn’t illustrate the “Change” that Obama has brought us, I don’t know what does.

By: dispatches from TJICistan » Blog Archive » Another modest proposal

dispatches from TJICistan » Blog Archive » Another modest proposal — Wed, 20 May 2009 14:56:21 +0000

[...] adults would get mortgage bailouts, credit card bailouts, could bail on all sorts of contracts if they find them distasteful, and, in general, would be [...]

By: sannhet

sannhet — Wed, 20 May 2009 14:55:57 +0000

I take offense at labeling credit card users that pay off their balances each month as deadbeats. You should see the detailed cc statements each month and see all the fees both as percentages and flat fees for each cc or debit transactions. They vary depending on the users bank and account. They generally run a little more for processing those with rewards, the merchants are paying those rewards. We have a small retail without much bargaining, and pay I the 2 to 4.5% in various fees for each sale. As a user, we put the majority of our personal expenses on our home card, and the wholesale purchases on the company card. The banks are doing just fine on the skimming they get from our $10-25m per month in transactions. We that obey the rules, and manage our lives are not deadbeats.

By: Meet The New Brownshirts - Dan_McLaughlin’s blog - RedState

Meet The New Brownshirts - Dan_McLaughlin’s blog - RedState — Wed, 20 May 2009 14:41:11 +0000

By: Baseball Crank

Baseball Crank — Wed, 20 May 2009 14:26:28 +0000

POLITICS: Meet The New Brownshirts…

Intimidation, home invasion and the not-too-subtle threat of physical violence – by community organizers closely allied with governmental power and receiving taxpayer money. It’s not a pretty combination: Bruce Marks doesn’t bother being diplomatic. …

By: Pat in NC

Pat in NC — Wed, 20 May 2009 13:25:14 +0000

What is the charge that credit cards charge businesses for their service? I had lawn equipment serviced and when I told them to put it on my charge card was informed they would add 4% to the charge since that is what they would have to pay VISA. I paid by personal check rather than add to the already large total bill. Seems the credit card companies will lose a great deal if they think they will be able to increase costs to those of us who pay promptly. Cash and checks work for me. My internet buys will also be a thing of the past.

By: PatriotPete

PatriotPete — Wed, 20 May 2009 13:25:05 +0000

Ohhh look athensboy learned a new word…gooper. Any moron will can figure out the self defeating nature of what is being done with credit cards bill as well as what Nobama is doing in other industries but then athensboy is not ANY moron. You jack up rates on the credit worthy to pay for the deadbeats, and the credit worthy stop using credit!

Now the banks are left with deadbeat, non-payers like athensboy! The banks go have to go back to the government because they have nothing but toxic assets on their books…hmmm, sounds a great deal like the crisis caused by the Clinton Administration and Fannie May.

Also, the goopers on the left have owned the Congress since 2006…how are Pelosi, Dodd, Rangel, Washington and Murtha working out for you? lol

By: Take it all deadbeats

Take it all deadbeats — Wed, 20 May 2009 13:02:02 +0000

[...] already pay your mortgage. I already pay for your healthcare. I already pay your taxes. Why not pay for your credit cards too? Take it all [...]

By: Sam Raimi teaches us what happens when lenders refuse to extend mortgage payments

Wed, 20 May 2009 12:10:19 +0000

[...] lot about the subprime situation and their command of federal money. Besides, you’re probably subsidizing her credit card debt now too, so this is just a [...]