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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!!!!


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

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

  • double post

    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.

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

  • That's why we don't have them.

    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.

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