Credit cards
05-21-2009, 03:04 PM
#11
Originally Posted by mikegarrison,May 21 2009, 01:48 PM
If a credit card company tacks on an annual fee for customers like you and me, we won't be customers any more. Pretty simple.
Thing is, banks know that the people who pay off their cards every month and have no-annual-fee cards are exactly like this. Banks are still going to want this business. So there will still be some no-annual-fee, no-interest-if-paid-in-full cards.
Thing is, banks know that the people who pay off their cards every month and have no-annual-fee cards are exactly like this. Banks are still going to want this business. So there will still be some no-annual-fee, no-interest-if-paid-in-full cards.
05-21-2009, 05:33 PM
#12
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I've been using a no fee rebate card for years. It's been nice while it lasted. If the rebate goes away or a fee appears I'll be off to my credit union. The only reason I switched away from them was the lack of a rebate card. But I think I can always depend on them for a no fee card.
05-23-2009, 05:51 AM
#14
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Originally Posted by boltonblue,May 20 2009, 06:52 PM
The good customers ( 800+ FICO) who are a low risk will still get credit cards.
05-23-2009, 06:25 AM
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I agree that good customers with good credit ratings will always be able to qualify for the "better" rates/features cards. The credit card business overhaul sounded pretty good to me - initially. As the details of this new legislation come out, it does appear that the emphasis is to protect the abusers, the marginal qualifiers, and the most probable deadbeats at the expense of responsible credit users who play by the rules. Unfortunately, this is all too familiar; protect the guilty and punish the innocent. The laws of unintended consequences meets dogooderism running amuck.
05-23-2009, 02:28 PM
#17
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Originally Posted by boltonblue,May 20 2009, 02:52 PM
well you don't expect banks to be waving little flags and celebrating do you?
of course they are going to preach the end of the world they want to stop the bill.
but banks still make a ton of money of fees to the seller, regardless of how much they make on interest on the consumer.
The good customers ( 800+ FICO) who are a low risk will still get credit cards.
the good but also rans will be the ones who suffer.
of course they are going to preach the end of the world they want to stop the bill.
but banks still make a ton of money of fees to the seller, regardless of how much they make on interest on the consumer.
The good customers ( 800+ FICO) who are a low risk will still get credit cards.
the good but also rans will be the ones who suffer.
05-23-2009, 07:32 PM
#20
I never get any. 
Filing bankruptcy and killing your boss must work. 
Filing bankruptcy and killing your boss must work.