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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 & APR's 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 9:02 AM on Feb. 12, 2010 in Money & Work

Level 23 (16,272 Credits)
This question is closed.
Answers (5)
  • yup thought I'd ask some of the mommies that weren't up at midnight
    Nyx7

    Answer by Nyx7 at 9:13 AM on Feb. 12, 2010

  • double post
    Anonymous

    Answer by Anonymous at 9:10 AM on Feb. 12, 2010

  • Here is an answer from me, someone who is totally guilty of having too much CC debt. I am the one that did this, I am the one that ran up my cards and made a "pact with the devil". When my rates were increased, I called the CC company and said I could not handle the new payments- my option was to close the account and pay it back under the original terms- I jumped at it. If your rates increased because you were late, that is your responsibility and you may not get the deal I got. This was the kick in the butt I needed to get my spending under control. I now only use AMEX so I pay it off every month. The CC companies needed bailing out because people were defaulting on their loans. I was angry at first too, until I really thought about it and realized I am the one that made myself vulnerable to the CC companies and as an adult, I needed to learn from my mistakes. It was my fault and no one elses.
    soyousay

    Answer by soyousay at 10:05 AM on Feb. 12, 2010

  • That's why we don't have them.
    whiteroses82

    Answer by whiteroses82 at 2:19 PM on Feb. 12, 2010

  • I'm not mad, because I'm not a slave to the credit industry. I haven't had a credit card in many, many years.
    halfpint_ny

    Answer by halfpint_ny at 11:07 PM on Feb. 14, 2010

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