[mattduke]

Lawmakers don't believe there is such a thing as economics. Look how they whine at the unintended consequences of their actions!

mainstream noos

[AgentR]

Seems very sneaky to me if you look at what the banks are doing in this. By both increasing the minimum amount pct and the interest rate; they grab their enslaved card holders attention on the wrong item.

The high end example used in the article of the old guy with an 18k balance, goes from a bit less that $400 and approximate $900 a month. But *THAT* actually doesn't matter AT ALL.

Prior customer monthly activities:
checking: $800 to grocery store
checking: $400 to bank cc
bankcc: $200 to interest

New customer monthly activities:
checking: $300 to grocery store
checking: $900 to bankcc
bankcc: $500 to grocery store
bankcc: $230 to interest

The only thing that changes is that sneaky $30. How do you get an extra $30 a month from a captive customer who will scream and get action? Make a huge splash somewhere else that amount to absolutely zilch. VISA Corp also gets a little bit extra too with the increased volume, but many were already using check cards of one sort or another, so I doubt the volume increase will amount to anything near the scale of the real increase, which is the moderate uptick in the rate.

[mattduke]

$this->bbcode_second_pass_quote('AgentR', 'S')eems very sneaky to me if you look at what the banks are doing in this. By both increasing the minimum amount pct and the interest rate; they grab their enslaved card holders attention on the wrong item. --snip--
VISA Corp also gets a little bit extra too with the increased volume, but many were already using check cards of one sort or another, so I doubt the volume increase will amount to anything near the scale of the real increase, which is the moderate uptick in the rate.

[Plantagenet]

Garsh.....Nancy Pelosi and all those nice democrats in Congress who wrote the credit card reform law just like the lobbyists told them too are so surprised that they set the start date for the law 7 months in the future. What a complete surprise it must be to them that credit card rates are going up because of their well-intentioned "reform" law.


Its a Sooooo-prise!!!! Hahahahahahahahahahahahahahahahah!!!!!!!!!