http://www.totalbankruptcy.com/blog/banks-weigh-in-on-credit-cardholders-bill-of-rights/ Bankruptcy and financial news Mon, 13 Feb 2012 03:33:30 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.totalbankruptcy.com/blog/banks-weigh-in-on-credit-cardholders-bill-of-rights/#comment-59 LAB Fri, 29 Aug 2008 17:23:11 +0000 http://dev.totalbankruptcy.com/blog/banks-weigh-in-on-credit-cardholders-bill-of-rights/#comment-59 I am amused by the statement, "Creditors threaten that if the bill passes, they’ll have to closely scrutinize credit card applicants and deny credit cards to “high-risk” people who have low credit scores." This is the way credit was granted back when I was a mere teenager some 35 years ago. At that tender age, I also became an escrow officer (got my mother's old job) at a savings and loan and saw first-hand what it takes to get a loan and what it takes to maintain a payment history so that one's credit rating will be prime. It, in my day, was called "discrimination" if someone was a low wage earner and was unable to obtain certain credit. Now, that discrimination is against those of us who either do not use credit cards prolifically or pay our credit card bills when they are due. Also, there those of us who have the intelligence to use the electronic funds transfer feature authorizing the credit card company to pay themselves from our checking account and taking ourselves out of the loop for responsibility for making sure our payments arrive at the precise time for posting. The industry calls those of us who pay promptly and in full "DEADBEATS." That's funny! We used to call the 30-60-90 day delinquents the same thing. That was when morals existed. I am amused by the statement, “Creditors threaten that if the bill passes, they’ll have to closely scrutinize credit card applicants and deny credit cards to “high-risk” people who have low credit scores.” This is the way credit was granted back when I was a mere teenager some 35 years ago. At that tender age, I also became an escrow officer (got my mother’s old job) at a savings and loan and saw first-hand what it takes to get a loan and what it takes to maintain a payment history so that one’s credit rating will be prime. It, in my day, was called “discrimination” if someone was a low wage earner and was unable to obtain certain credit. Now, that discrimination is against those of us who either do not use credit cards prolifically or pay our credit card bills when they are due. Also, there those of us who have the intelligence to use the electronic funds transfer feature authorizing the credit card company to pay themselves from our checking account and taking ourselves out of the loop for responsibility for making sure our payments arrive at the precise time for posting. The industry calls those of us who pay promptly and in full “DEADBEATS.” That’s funny! We used to call the 30-60-90 day delinquents the same thing. That was when morals existed.

]]> http://www.totalbankruptcy.com/blog/banks-weigh-in-on-credit-cardholders-bill-of-rights/#comment-58 Diane Thu, 28 Aug 2008 19:51:20 +0000 http://dev.totalbankruptcy.com/blog/banks-weigh-in-on-credit-cardholders-bill-of-rights/#comment-58 "they'll have to closely scrutinize credit card applicants and deny credit cards to “high-riskâ€� people who have low credit scores." Shouldn't they be doing that ANYWAY ? Just shoveling out credit as they have been, just so they can rape consumers on fees when they DO default is nothing but GREED on their part. In addition, Prof. Elizabeth Warren had a long article on their so-called 'risk pricing' that pretty much showed they're full of you-know-what. “they’ll have to closely scrutinize credit card applicants and deny credit cards to “high-riskâ€� people who have low credit scores.”
Shouldn’t they be doing that ANYWAY ? Just shoveling out credit as they have been, just so they can rape consumers on fees when they DO default is nothing but GREED on their part. In addition, Prof. Elizabeth Warren had a long article on their so-called ‘risk pricing’ that pretty much showed they’re full of you-know-what.

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