Thursday, December 18, 2008

Credit Card Rules to Change: Burley Men Will Punch All Companies, Customers in Face.

Credit Cards will no longer be an incomprehensible maze of debt and numbers, or at least, that's what the intended government plan will be if allowed to come to fruition. In a gesture meant to ward off congressional action, Federal Regulators proposed new rules for credit card companies. A quick breakdown deals with keeping interest rates at a reasonable level.

"The rules, which take effect in July 2010, will allow credit card companies to raise interest rates only on new credit cards and future purchases or advances, rather than on current balances."

Here are the Rule Changes for those who want an in-depth look at our future ...

Wow! They can do that now? Holy shit!

But wait ... there's a downside, sort of, maybe, perhaps. But it all depends on how you view learning from history or not.

"But the changes also could make it more difficult for millions of people with bad credit to get what is known as a subprime card carrying higher interest rates, some experts say."

Well that's not fair at all! People who can't afford to pay off credit cards because they couldn't pay their old credit cards will not be able to get new credit cards? What a mockery of justice! After all, what has subprime credit ever done to hurt anyone?

I mean, besides hurt everyone?

And besides throwing our economy into totally fucked hyperdrive.


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