Comments on: The Unintended Consequences of CARD http://www.joetaxpayer.com/unintended-consequences-card/ Financial Commentary For The Average Joe Thu, 09 Feb 2012 00:23:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Robyn - CCD http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-14591 Robyn - CCD Mon, 11 Jan 2010 01:14:39 +0000 http://www.joetaxpayer.com/?p=1986#comment-14591 This wasn’t unexpected, but it’s also avoidable... I'm so glad you added these points. I know I am looking in from a very different political environment and economy here in Australia, but I am reading complaints about being penalized for being financially responsible. What seems to be forgotten is that if you are financially responsible you have so much more power - the power to choose and you are really the most unlikely category of consumers to be hit with the worst of the unintended consequences which is surely reduced/canceled credit lines and its possible credit rating implications This wasn’t unexpected, but it’s also avoidable…

I’m so glad you added these points. I know I am looking in from a very different political environment and economy here in Australia, but I am reading complaints about being penalized for being financially responsible. What seems to be forgotten is that if you are financially responsible you have so much more power – the power to choose and you are really the most unlikely category of consumers to be hit with the worst of the unintended consequences which is surely reduced/canceled credit lines and its possible credit rating implications

]]> By: Smart Balance Transfers http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-11682 Smart Balance Transfers Thu, 19 Nov 2009 22:18:42 +0000 http://www.joetaxpayer.com/?p=1986#comment-11682 The consequence keep getting worse. Lots of visitors to my blog are posting about Citi rates being raised to 29.99%. In my opinion, the banks are raising rates as high as possible before the new laws take effect. Then, they can lower rates if they choose, but it protects them when they can no longer raise rates. The new laws have really caused much more harm then good. We'll all be paying higher interest rates to make up for the money banks will lose because of the bill. The consequence keep getting worse. Lots of visitors to my blog are posting about Citi rates being raised to 29.99%. In my opinion, the banks are raising rates as high as possible before the new laws take effect. Then, they can lower rates if they choose, but it protects them when they can no longer raise rates. The new laws have really caused much more harm then good. We’ll all be paying higher interest rates to make up for the money banks will lose because of the bill.

]]> By: Credit Card Chaser http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-9999 Credit Card Chaser Wed, 28 Oct 2009 03:03:12 +0000 http://www.joetaxpayer.com/?p=1986#comment-9999 Very true, what is also quite interesting is the uproar over Bank of America adding annual fees to many of their previously no annual fee cards and yet the BOA credit card division has been losing money for the past 5 quarters because of all of the defaults: http://www.creditcardchaser.com/boas-credit-card-business-is-losing-money-yet-still-catching-flak/ Very true, what is also quite interesting is the uproar over Bank of America adding annual fees to many of their previously no annual fee cards and yet the BOA credit card division has been losing money for the past 5 quarters because of all of the defaults: http://www.creditcardchaser.com/boas-credit-card-business-is-losing-money-yet-still-catching-flak/

]]> By: MLR http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-9901 MLR Tue, 27 Oct 2009 01:04:18 +0000 http://www.joetaxpayer.com/?p=1986#comment-9901 I've never had a late payment because I set up automatic payments for the minimum. I also have an Outlook calendar alert for when the bill is due so I can pay the full amount. And now I'm getting penalized? Interesting, I'm sure SOME credit card will want my merchant fees. I dare my credit cards to test me on that ;) I’ve never had a late payment because I set up automatic payments for the minimum. I also have an Outlook calendar alert for when the bill is due so I can pay the full amount.

And now I’m getting penalized? Interesting, I’m sure SOME credit card will want my merchant fees. I dare my credit cards to test me on that ;)

]]> By: Bible Money Matters http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-9857 Bible Money Matters Mon, 26 Oct 2009 13:43:20 +0000 http://www.joetaxpayer.com/?p=1986#comment-9857 another reason why i save up and pay cash for everything, to avoid miscellaneous fees and overcharges by the credit card companies. If more people would just live to learn within a budget, and save up for the things they needed, and not carry a balance, we wouldn't have to worry about any of this. *sigh. another reason why i save up and pay cash for everything, to avoid miscellaneous fees and overcharges by the credit card companies. If more people would just live to learn within a budget, and save up for the things they needed, and not carry a balance, we wouldn’t have to worry about any of this. *sigh.

]]> By: Evan http://www.joetaxpayer.com/unintended-consequences-card/comment-page-1/#comment-9855 Evan Mon, 26 Oct 2009 13:33:04 +0000 http://www.joetaxpayer.com/?p=1986#comment-9855 Joe, Just yet another example coming to light about a government completely ignoring unintended consequences. It wasn't like MC or Visa was just going to take it on the chin when the gov't started to attack their bottom line. Joe,

Just yet another example coming to light about a government completely ignoring unintended consequences. It wasn’t like MC or Visa was just going to take it on the chin when the gov’t started to attack their bottom line.

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