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little while ago the have c
congress and of course presence and a law passed the legislation
um... changing civil laws on credit card companies that wasn't perfect
uh... you know it got implemented a little later admitted that been absent provision
we would've liked
you now the usual drug laws
but i like that overall
that i like to see all the time it because i think it's true that i'm perfectly willing
to compromise and when you get the core of a bill that's pretty good right
and i thought of the credit card bill was along those lines so now we have some the
results
uh... well it turns out that uh... the credit card companies are having a little bit of
trouble 'cause they're used to review all and they make a tremendous amount of money
doing that
so uh... some of these the bill curtailed was
all you can take it jack up your rates your interest rates
for no reason
that seems like some pretty good idea wrapping
and of course there quiet on top of my in crap at me like crap there i love the days
when i get to jack up people's rights
in an open
they did absolutely nothing wrong
all right so they're crying out that in the second thing is
at the kid charges over rates if you're late or uh...
or you went over your limit is setting in charge of rates they charge you please write
but not exorbitant fees it make sense if you look at the consumer protection right
now uh... so cook what has been a reaction to this bill
yet rafael the waste discharge now that look that make sense to you don't get me wrong
with their a private company to try to make as much money as possible as some all
are complaining about that
i think that's not really that legitimate criticism absolute let me explain so for example
credit card companies are saying
hey you know what i'm now working for rich people to use a credit cards more
kriso swipe these every time you use your credit card
they charge the bender that restaurant that you went to
or whatever but they might be about two percent
so they want encourage you to use your card more so they can make more money out
that's capitalism a bizarre wrong with that as your choice whether you want to know you
don't want to some people say over that encourages people to use credit card too much
their kids are human beings they got a mind beginning of their own mind
i don't have a problem with that and then secondly at credit card companies are some
of them are now trying to charge you really fees
that's really you know i i don't like it when they do to me
but i don't see anything wrong with that either
here's what i mean by that
that's their choice if i don't like the chase is doing that maybe i go to citibank or i
go to another discover i go to
this competition and there's no competition spotlight
insurance companies
and it would get along the whole day try doing that and then a lot of them at the skill aback
because there's so many cards that insures your yearly fee and people sort of flocking
to the house
that's capitalism baby
there's no problem with that as long as we've got their rules and nobody's rip it off consumers
etc nobody speaking taxpayer money everything's fine
above it turns out that the industry needs to tries and then they get to that point
they do provide a service right and would like that service i'm not outraged by it
now but here's a funny little uh... thing about what happened as well
basically that the problem
the good consumes
the ones that pay via credit card writes back
so that they had massive trouble before because they laid out to everybody give the risk is
credit and those people defaulted and now so they got stuck with that bill right pay
that's also capitals right
but now they like
stanley is going to keep it out there
budget deadbeats
you had a great quote for you
uh... space from uh...
hers arnold
uh... from card ratings dot com he says dot only true deadbeat customers someone
who has a card in never use it
tickets dayton
yet as i used the card
and now
at the credit card companies don't want people with ratings above eight hundred
that's the goldstein right
not a big deal
migrating happens to be about it about it
and that's a and just say look i practice what i preached right i talk about this school
discipline alumni like republics that
from contingency to let's hope that that doesn't get screwed up x
so now are apparently a bad customer
so they pitch but they were rostock mira yap right
the cats so it's good for you know my means by it
uh... you know i get their motivation to but the nation come crying later to taxpayers
of anybody else
are we all they had uh... bad credit risk and say we don't get off on
right now you're the ones that you're now saying
that those are guys you want
so those of surprise it surprise if you crack wide open and this is
it's also apostle of the credit card company should consider
hey you know what
under the these normal rules of engagement
we're not gonna make as much money as we used to when we were robin for
and that's life in the big city
doesn't mean you're bankrupt doesn't mean you can't function it means you're not gonna
makers
much of a you serious profit is used to
used to it
these are fair rules
enjoy the competition
when was that they were already white or stop in and and it can agree and i said to my dad
godaddy
docstoc
and then i thought hey you know what why not go never domain name susan still the world's
largest
him anything
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