Comments on: Credit Card Issuers Making Life Tough For Consumers http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: PatV http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-199187 PatV Wed, 14 Oct 2009 01:29:20 +0000 http://www.consumerismcommentary.com/?p=7000#comment-199187 I don't know what to do, my husband received a letter today saying BOA is changing our fixed rate personal loan to variable. He called to opt out and was told he couldn't. The rep said he could close the account only if he paid it off! This can't be legal, please help. I don’t know what to do, my husband received a letter today saying BOA is changing our fixed rate personal loan to variable. He called to opt out and was told he couldn’t. The rep said he could close the account only if he paid it off! This can’t be legal, please help.

]]> By: Jason http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195518 Jason Fri, 03 Jul 2009 19:02:35 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195518 You prompted me to look up the definition of <a href="http://www.merriam-webster.com/dictionary/bilk" rel="nofollow">bilk</a>. Here's an example in a sentence: Congres <i>bilked</i> (1) the credit card market, and now issuers have to raise fees on everyone to make up for the customers who <i>bilk</i> (2b) them. You prompted me to look up the definition of bilk. Here’s an example in a sentence: Congres bilked (1) the credit card market, and now issuers have to raise fees on everyone to make up for the customers who bilk (2b) them.

]]> By: finco86 http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195515 finco86 Fri, 03 Jul 2009 18:34:07 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195515 Of course it was a mistake. Any time you get the government involved in the market, it will lead to behavior none of the 535 Congressmen and Senators thought about. Now they are angry because they didn't think? Too bad they never acknowledge that they are the cause of the change in behavior. Of course it was a mistake. Any time you get the government involved in the market, it will lead to behavior none of the 535 Congressmen and Senators thought about. Now they are angry because they didn’t think? Too bad they never acknowledge that they are the cause of the change in behavior.

]]> By: Flexo http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195501 Flexo Fri, 03 Jul 2009 15:08:41 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195501 Through increased minimum payment requirements and higher interest rates? Perhaps. I'm sure some people will feel that is an appropriate term. Through increased minimum payment requirements and higher interest rates? Perhaps. I’m sure some people will feel that is an appropriate term.

]]> By: Steve http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195496 Steve Fri, 03 Jul 2009 04:52:31 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195496 "Bilked"? I'm sorry, but was someone conned out of money that belonged to them? “Bilked”? I’m sorry, but was someone conned out of money that belonged to them?

]]> By: Smithee http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195490 Smithee Thu, 02 Jul 2009 23:15:34 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195490 At least one analyst firm says that they'll remain lucrative regardless of the new rules. http://www.reuters.com/article/rbssConsumerFinancialServices/idUSBNG45163920090629 At least one analyst firm says that they’ll remain lucrative regardless of the new rules.

http://www.reuters.com/article/rbssConsumerFinancialServices/idUSBNG45163920090629

]]> By: Jason http://www.consumerismcommentary.com/2009/07/02/credit-card-issuers-making-life-tough-for-consumers/#comment-195483 Jason Thu, 02 Jul 2009 20:07:25 +0000 http://www.consumerismcommentary.com/?p=7000#comment-195483 Who didn't see this coming?! Seriously. Lenders mitigate the risk of default via interest rates and fees. The new law limits disincentives for defaulting, increasing the lender's risk. Lenders' rates and fees must increase to maintain the balance. At least we got one good thing out of the Credit CARD Act of 2009: legal guns in national parks and wildlife refuges. Who didn’t see this coming?! Seriously. Lenders mitigate the risk of default via interest rates and fees. The new law limits disincentives for defaulting, increasing the lender’s risk. Lenders’ rates and fees must increase to maintain the balance.

At least we got one good thing out of the Credit CARD Act of 2009: legal guns in national parks and wildlife refuges.

]]>