Anyone had their credit card rates jacked up??

[daggerkobe]

3.9% ------> 22.9%
4.9% -----> 22.9%

All because of "economic conditions" more like Bush's fvckups.

[tatommack]

yep capital one from 4 to 14 wtf? wont be using that one

[curious]

3.9% ------> 22.9%
4.9% -----> 22.9%

All because of "economic conditions" more like Bush's fvckups.

So Bush told the DemoCong to pass the laws that deregulated the banking industry, the mortgage industry and Fannie Mae and Freddie Mac to the point that it was the wild west. Glad that you let us know that he had that kind of influence with the DemoCong. And Bush told the banking and mortgage oversight committees also run by the DemoCong to do NOTHING in terms of actual oversight of the mortgage industry and the banking industry. Again, didn't know Bush had that kind of power over the DemoCong.

I paid off all my credit cards when I saw the economy start to take a downturn.

[daggerkobe]

Some of the reasons for the financial crisis:

- SEC relaxing rules in 2004 that enabled investment banks to dramatically increase the level of debt, fueling growth in mortgage backed securities supporting subprime mortgages.

- The repeal of the Glass-Steagall Act by a bill introduced by Phil Gramm & Jim Leach (both Republicons) which contributed to the crisis.

- Bush replacing the Fannie and Freddie's chief regulator in 2003 after the regulator published a report warning of the risks posed by the GSE.

- Bush advocating the "Ownership Society," pushing hard to expand home ownership, especially among minorities. He insisted that Fannie Mae and Freddie Mac (the GSE) meet low-income housing goals and advocated government loans to help low-income homeowners make down-payments.

[capitalist pig]

Over the next 16 months, you will be hard pressed to find anyone who doesnt get their rates jacked up, and there will be just as many folks who get their cards cancelled before the new cc reform laws take place in July of 2010.

later

[durito]

i've had limits cut in half on accounts that have $0 balance or closed entirely, even though i have no outstanding debt and excellent credit.

[BestPlay2day]

Dagger, those rates of 3.9 and 4.9% sounds like introductory rates. No way they would keep the rates that low. 22.9% is bullshit though, just pay them off and get new cards. Also, many are getting their limits cut big time as banks/credit card companies don't want the risk exposure.

[tullamore]

I have had limits cut one two of my accounts.

[daggerkobe]

Dagger, those rates of 3.9 and 4.9% sounds like introductory rates. No way they would keep the rates that low. 22.9% is bullshit though, just pay them off and get new cards. Also, many are getting their limits cut big time as banks/credit card companies don't want the risk exposure.

Nope.... they were "lifetime."