I think so. I hate that credit will be the leading reason for the next economic crash heading our way.
I hate to say it but people should not buy so much, if they cannot afford it.
Having said that, the other side of the coin is that the companies that offer credit and then punish you for going over (when their computer is programmed to ALLOW you to go over) are fairly well at fault as well!
If you have a limit, then you should be denied (by LAW!), from exceeding it!
If they allow your going over, it should be a statutory increase of your credit line!
I am against outrageous bank fees too!
over draft, and then extended over draft fees and overdraft for THEIR charges!
these type of defrauding the public should be ended!
If you write bad checks then you pay! it is a crime everywhere, but it should also be a crime to force you over by the only system that you can use!
opinions?
2006-07-12 12:07:55 · 6 answers · asked by athorgarak 4 in Politics & Government ➔ Government
oldguy,
THAT IS WHY i WANT YOU TO VOT FOR INDEPENDANTS AND VOTE OUT INCUMBANTS IN '08
VOTE FOR ART HAGLUND IN '08
A healthy country, a constitutional government and better choice!
2006-07-12 12:20:06 · update #1
YES!!! and YES!! I hate getting all that "junk" mail too! I was getting about an application a day from one company then I called them to tell them to stop sending me it and it worked... until I moved. I got my credit card from my bank instead to help me build credit. (I am in college) and one tip I heard was NEVER spend more than 30% of your limit. its a good rule so you can afford to pay off the entire bill each month, and if you do have an emergency you know you will have enough money to cover it. I had a different credit card from a store which I could only use in that store and once I went over my limit and it denyed me to use it. I paid off my full bill then they upped my credit limit since they knew I could afford my total limit. that sucked. I didnt want them to up my credit so I canceled it. I could have just lowered my limit, but didnt want to deal with it anymore.
oh one more tip my dad told me along time ago~ if you get junk mail you can put "return to sender" on it and not have to worry about it anymore or open it and if there is another envelope within the enevelope, tear everything up EXCEPT that envelope and mail it back to them, assuming that postage is free.
2006-07-12 12:17:54 · answer #1 · answered by flutterflie04 5 · 0⤊ 1⤋
Yes! But you have a better chance of seeing the Pope turn Protestant than regulations put on a moneymaking scheme.
Think about this: An Institution offers the public a word (credit), Its cost is practically nil; and then proceeds to charge the poor sucker astronomical rates for the use of this word.
If you had lobbyists in Washington with influence, would you have them sit back and have congress pass regulations that would kill the golden goose?
I think not!
2006-07-12 19:28:08 · answer #2 · answered by Gray Matter 5 · 0⤊ 0⤋
ABSOLUTELY!!!!!!! First they should stop their mailings offering credits cards. Along with that the spam ads should STOP! These people are out of control. If I want a card, I will find 1 on my own comparing interest rates. I had to buy a shreder just to accommidate the junk mail.
2006-07-12 19:14:52 · answer #3 · answered by bn_4600 1 · 0⤊ 0⤋
My 13 year old son applied for and got a credit card on his income witch he has none
2006-07-12 19:11:14 · answer #4 · answered by Joe 5 · 0⤊ 0⤋
Yes and the payday loan industry as well.
2006-07-12 19:09:52 · answer #5 · answered by Smitty 5 · 0⤊ 0⤋
they should be but it will never happen, they are paying too much money to the lawmakers.
2006-07-12 19:16:39 · answer #6 · answered by oldguy 6 · 0⤊ 0⤋