No good deed goes unpunished...

[Tele-Cat]

Got Perfect Credit? You Could Be Charged For It! - wcbstv.com

I don't do business with them but my partner does...but not for long...

[Phostenix]

I wondered how long it would take for them to do this. We charge everything on our card & pay it off every month and get airline miles that we use every year, too. We never pay a dime of interest for this.

[Tele-Cat]

Originally Posted by Phostenix

I wondered how long it would take for them to do this. We charge everything on our card & pay it off every month and get airline miles that we use every year, too. We never pay a dime of interest for this.

Yeah but punishing good behavior sets a pretty bad precedent.

[Phostenix]

Get used to it.

[Tele-Cat]

Originally Posted by Phostenix

Get used to it.

I don't have to because if I don't have cash, unless it's an emergency, I don't buy.

It's still wrong.

[Mark Hammer]

Some stores I've dealt with have one price for cash, and another for a credit-card purchase. many banks that issue debit cards will ding you a fixed amount for each purchase made with a debit card. The pay as you go format is a much better model to follow than a flat annual fee, which certainly will feel like "punishment" to those who pay their bills on time or who perhaps never use their credit card more than a couple of times a year, and only because they are forced to.

[Bill Moore]

It's not a new idea to establish credit, wheather it's needed or not. When I got out of the service, many years ago, my father in law encouraged me to refinance my paid for car, to establish a credit history. I did, and 6 months later we financed our first house, (mobile home), with that credit history.
The current thread is about credit cards, I have had to "renegotiate" several of our cards, some we just paid off. Anything over 10%, you can do better at the bank, we still have a few 7% cards we use for short term cash for the business. With the new regulations coming into effect, which will hamper their ability to collect, or manage questionable accounts, I suppose they need to be more judicious with their lending.

[hasserl]

With the new regulations coming into effect, which will hamper their ability to collect, or manage questionable accounts, I suppose they need to be more judicious with their lending.

I think what we may be seeing here is the typical unintended consequences of legislation and regulation. There is always unintended consequnces, and they tend to be worse then whatever it was the regulation was supposed to address.

Congress imposes new regulations on credit card companies, so they rearrange how they do business to compensate, and the consumer suffers.

[Sock Puppet]

Originally Posted by Bill Moore

The current thread is about credit cards,

Sorry about that post Bill, I have no excuse other than I was and am dog tired.

Had to laugh when I read it there, I know what I meant but it doesn't make a blind bit of sense.

Looks almost as if my keyboard was missing lines.

[reddart]

Originally Posted by Tele-Cat

Yeah but punishing good behavior sets a pretty bad precedent.

Eh, not much different than rewarding bad behavior, which has been going on for many, many years.