Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Credit Cards

I don't get it. Does anybody else realize that the credit card companies which are owned by banks simply raised their fees & minimum payments in order to pay back their bailout. Isn't this making me pay to pay me back? Its my tax money that was used to bail them out & its my money that's paying the bailout back?!?! Does this make sense to anybody else? How is this legal? Why aren't more ppl mad as hell!!!!

 
Nyx7

Asked by Nyx7 at 12:06 AM on Feb. 12, 2010 in Money & Work

Level 23 (16,272 Credits)
This question is closed.
Answers (4)
  • It sucks that a lot of people refused to see the bigger picture how the government doesn't make money and that businesses are not going to lose money so we end up paying both ways.

    SylviaNCali

    Answer by SylviaNCali at 1:14 AM on Feb. 12, 2010

  • i noticed that too....my minimum payment on one card went from 20 to 50 bux!!!! I'm paying it off with my returns....thank god I only have 3 cards and they'll all disappear after all this......I'll stick with my target card and thats it! LOL
    LynnB1

    Answer by LynnB1 at 12:39 AM on Feb. 12, 2010

  • bouncingGOOD POINT OP. Just an FYI the more you pay towards your debts (increased minimum payments) the more you are actually putting towards the princible of the debt. So the banks/credit cards aren't actually making more money. Unless of course they increased the interest rate.


    That sucks about the fees though.

    Anonymous

    Answer by Anonymous at 1:43 AM on Feb. 12, 2010

  • I only have one card. But they haven't raised my payments one cent in 3 years... If you have a good record with them, you can usually call them and have them reduce your payment, if and when they do raise it. Generally if they feel you are going to close the card, they will keep you where you are... The point is that we had two choices here. Bail out the banks or let them flounder and throw the entire country in to a depression... Now that these same banks think they can go back to "promotions as usual" they need to be forced to send the money back... Are they going to find a way to raise it out of the customers? Of course! But you have the right not to use them, so you don't HAVE to be the ones paying it back!
    SabrinaMBowen

    Answer by SabrinaMBowen at 8:46 AM on Feb. 12, 2010

Next question in Money & Work
Question .....

Next question overall (Diet & Fitness)
Stretch Marks

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN