Wow. So Congress is going to do something about the previously passed Credit Card legislation that won't take place for 18 months.....but who will really benefit? Is it enough? I say it doesn't sound like they are completely on our side (no surprise there).

ConsumerMan: End to credit card craziness? - ConsumerMan- msnbc.com

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Make someone's heart smile today.

Can dark get darker?

thats why i'm glad i just canceled my last credit card. i'm not going to deal with it. no it does not sound like they are totally on our side wich really is no surprise.

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SILENCE IS GOLDEN BUT DUCK TAPE IS SILVER.

We received a letter from Chase yesterday stating that our interest rate would double come April 1st, and if we didn't want to except the new terms, we would no longer be allowed to use it. I am paying it off tommorow and will cancel the card. We've had the card for five years and have never been late or missed a payment. I guess being responsible with your money doesn't matter anymore. Your going to get screwed anyway!

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When I want your opinion I'll remove the duct tape.......K?

It's like they are punishing those people who didn't declare bankruptcy and get rid of the credit card debt. Some of us had to use credit cards to survive during times in our life and are doing the responsible thing and working on paying them off. These companies are making that impossible to do with interest rates that are 20-30% in some cases. It seems like the government would want to intervene sooner because this is just going to hurt the economy more. The higher the minimum payments, the less people have to spend to buy things that would help our economy.

The government interference has just rushed and forced the credit card companies to raise everyones' rates asap, across the board, before the new rules take place. It is a business decision they were forced into via legislation to protect their bottom line and stay in business. This never would have happened if the government would have just stayed out of it. Financially capable and dependable customers will pay off and close their accounts, leaving the risky customers behind...once again. Brilliant!

We had a Toys R Us card from chase and use it to buy a few things for the kids at Christmas. We had about $250 balance. In one month, they raised the minimum payment from $10-$49 and raised the interest rate. We paid it off and closed the account. DH had just signed up for it in October to get 15% off of a purchase. Credit cards are a no-win situation no matter how much the government tries to regulate them.

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"When people can walk away from you, let them walk. Your destiny is never tied to anyone that left." Jakes