ouch!? ANyone hear about the new Credit Card regulation

[KarenMarie]

i am one of those ppl who will get hammered when the payments double.

and yes... there was a very good reason to run up the cards. and yes, we will meet the payments... we are paying double the minimum now. but if they double the minimum and i pay double that... it will make a difference to the household.

but on the good side, we will pay they off in 1/2 the time.

 

[RossMAN]

Originally posted by: SilentZero
I only have $1789 on my Amex, but that will be paid off tomorrow

Which Amex card do you have?

 

[rmrf]

Originally posted by: RossMAN

Originally posted by: Goosemaster

Originally posted by: RossMAN
/me goes to make another large cc payment.

:laugh:

Just paidoff my CitiBank credit card $1,485.00 ... w00t!

sad thing is, that is what I use monthly on my CC. good thing I pay it off every month, or I would already be getting ultra-raped. I found out I have $200 cash back on my discover card though, so that is good 🙂

 

[EMPshockwave82]

this will actually help MANY people get out of debt if they have restructured their lives to do so. Under current rates and minimums it will take many people the rest of their lives + the rest of their children's lives to pay off the debt. 10,000 in debt at 20% interest should have a 3000 minimum or more so that the debt can be paid off quickly enough that it doesnt keep growing faster than the hulk when he's angry

 

[SilentZero]

Originally posted by: RossMAN

Originally posted by: SilentZero
I only have $1789 on my Amex, but that will be paid off tomorrow

Which Amex card do you have?

The Amex Platinum card

It is a good card and I don't have a spending limit, but I have to pay the full balance each month, which is better for me anyways.

 

[Goosemaster]

Originally posted by: EMPshockwave82
this will actually help MANY people get out of debt if they have restructured their lives to do so. Under current rates and minimums it will take many people the rest of their lives + the rest of their children's lives to pay off the debt. 10,000 in debt at 20% interest should have a 3000 minimum or more so that the debt can be paid off quickly enough that it doesnt keep growing faster than the hulk when he's angry

the problem is that some peopel have it in their head that a decrease in CC debt means a decrease in growth....oh the webs we weave for ourselves....

 

[Goosemaster]

Originally posted by: rmrf

Originally posted by: RossMAN

Originally posted by: Goosemaster

Originally posted by: RossMAN
/me goes to make another large cc payment.

:laugh:

Just paidoff my CitiBank credit card $1,485.00 ... w00t!

sad thing is, that is what I use monthly on my CC. good thing I pay it off every month, or I would already be getting ultra-raped. I found out I have $200 cash back on my discover card though, so that is good 🙂

Honestly, I will admit to not being that disciplined just yet. Hopefully one day I will let myself get a card with a higher limit, which I still afford each month, so I can get those precious rewards😀

<--admits that he isn't ready yet🙂

 

[rmrf]

Originally posted by: Goosemaster

Honestly, I will admit to not being that disciplined just yet. Hopefully one day I will let myself get a card with a higher limit, which I still afford each month, so I can get those precious rewards😀

<--admits that he isn't ready yet🙂

oh, believe me, I was not always this disciplined. when I was in college I racked up ~$7K in CC debt, and it took about 2 years to pay it off. I will never go back to those days, I never had any money trying to pay as much of that crap off while enduring the $100 finance charge each month. :shivers;

 

[imported_goku]

Originally posted by: TimMyMac
I work 4 citibank, they emplimented some of the rules earlier in the year. They are uping the ammount agian though. American hold such high debt, if we don't do something about it soon we are going to have some major problems. I doubt to many CC companies will go bankrupt, unless people really are pushing the limits of what they can hold on a credit card. I dunno, I work in the collections department, I can give you an update in a few months. 🙂


BTW, citibank is offering a assitance program to help people that have trouble adjusting to the new min due. I don't know if other creditors will offer anything similar though.

Jeez, what position do you work at citibank? I might be able to get a position if they hire people who don't even know how to spell "implement"... I wouldn't care if you mispelled words like earlier with spelling such as earleir or eralier assuming that you spelled that correctly later in your post because that would mean it was simply a typographical error.

 

[ironcrotch]

I'm hoping to have all my CC debt wiped out soon, so they can all kiss my azz.

 

[tec699]

Tell the CC companies to stay thed hell away from the college campus. It should be outlawed.

 

[Mrfrog840]

Originally posted by: Goosemaster

Originally posted by: SampSon
That sucks for the morons who can't control their spending.

they willl GET ULTRARAPED🙁

at least they get their own planet? am i right?

 

[rmrf]

Originally posted by: goku

Originally posted by: TimMyMac
I work 4 citibank, they emplimented some of the rules earlier in the year. They are uping the ammount agian though. American hold such high debt, if we don't do something about it soon we are going to have some major problems. I doubt to many CC companies will go bankrupt, unless people really are pushing the limits of what they can hold on a credit card. I dunno, I work in the collections department, I can give you an update in a few months. 🙂


BTW, citibank is offering a assitance program to help people that have trouble adjusting to the new min due. I don't know if other creditors will offer anything similar though.

Jeez, what position do you work at citibank? I might be able to get a position if they hire people who don't even know how to spell "implement"... I wouldn't care if you mispelled words like earlier with spelling such as earleir or eralier assuming that you spelled that correctly later in your post because that would mean it was simply a typographical error.

you can crawl back in whatever hole you crawled out of and die as far as I'm concerned. wtf.

 

[mztykal]

6k left on new car loan. 2.5k on 2 credit cards. Not that bad. I pay almost the whole balance off monthly. 🙂

 

[TitanDiddly]

Good.

 

[eakers]

I wonder if this has anything to do with my credit card lowering the minimum payment a few months ago. (Actually, its lowered for people with a lot of debt and raised for those with a small amount)

I'm glad I don't have that kind of debt anymore.