So Obama is trying to pass a law that says credit cards will not be able to hike rates on current balances.

So what does this do? It causes the Credit Card companies to go ahead and hike them now, while they still can. I am planing a wedding in a few months, and have a couple thousand on a card. I expect to pay it off in a few months, but I got a notice in the mail today that the rate on that card is going up on future and current balances.

Anything else you want to fuck up Mr. President?

You're getting married? Congratulations Maffoo

Also, sorry to hear about the credit situation. What's the cause?

--Edit--

Bleh, sorry didn't read the first line lol

highwaystar101 said: You're getting married? Congratulations Mafoo Also, sorry to hear about the credit situation. What's the cause?

Thanks! :)

The cause of what? Me having a balance? I have a balance because weddings cost a lot. I am putting some of the expenses on the card.

The reason for the credit hike? Obama wants to freeze this sort thing in the future. So, if your a credit card company, and you modeled your rate structure under the premise that if things get worse, you can charge more, you are going to have lower rates. If the rules change that don't allow you to adjust for market changes, you now have to calculate what rates you think will cover you for all situations. This means a higher rate. Credit Card companies are just preparing for the law change now.

So while Obama thinks he is helping customers, what he really did is guaranteed higher rates for everyone, and forced Credit Card companies to take action now, while they still can.

I don't carry much of a balance, so I am not that effected. But people with a huge balance on credit cards, just got fucked.

I can see what Obama has done as believing what he sees as the best decision, but you are correct, this is going to have harsh repercussions. I wonder what he was told would happen by his advisors.

You have thousands of dollars on your card? And you want us to feel sorry for you? Learn to live within your means.

I think everything Obama does, he does because he thinks it's the best solution for America. That's the problem with power.

On the other side of the coin, I am sure, 100%, that when Bush went into Iraq, he did it because he thought it was what was best for the US, and best for the Iraq people.

Obama is not a bad man, he is a very kind man, and wants nothing other then what's best for this country. The problem, is often what's best for the country is never what people in power think is best.

It's what "free" meant when this country was founded. Freedom from men who get to decide what's best for you.

hahaha, You don't follow my threads much do you? I live well within me means. I will have this paid off in 3 months.

I never expect anyone to feel sorry for me. Especially you.

For the love of god, did the man kill your fucking dog or something? It's like every day you have a new Obama topic. I mean at some point you have to ask if this is healthy.

Also congrats on your nuptials man. Marriage is a wonderful thing, and best of luck to you. Just don't blame Obama for anything that happens on your wedding night ;)

Then why are you bitching? Obama has nothing to do with your decision to spend money you don't have.

Have you seen his national budget? He is telling all of us to spend money we don't have... 

Correction. he is making all of us spend money we don't have.