Comments on CreditMattersBlog.com: It Depends On Meaning Of Usury As U.S. Credit Card...

Drewbert, I would be very open to that. If anyone ...

2009-05-03T12:10:36.547-04:00

Drewbert, I would be very open to that. If anyone is interested, shoot me an email. plastic101@gmail.com.

CM, What about opening up to allow a few guest blo...

2009-05-03T12:09:17.520-04:00

CM, What about opening up to allow a few guest bloggers on here? You have a few very dedicated, knowledgeable, and most likely willing readers who could throw a post or 3 a week on the blog for you.

After mine are paid off (hopefully August) I plan ...

2009-05-02T21:39:32.264-04:00

After mine are paid off (hopefully August) I plan on only using the one that gets air miles, and then will PIF. I also don't want to ever have any debt again except a mortgage.

Don, while I would hate to do it, I can see the da...

2009-05-02T09:41:04.490-04:00

Don, while I would hate to do it, I can see the day when it will be necessary. Unless -- unless! -- my readers don't mind getting one blog entry per day. Or one blog entry every other day. If they don't, then I don't think it will be necessary to walk away. But if my readers need me to blog multiple times a day, I doubt I will keep that up.

I have a loyal readership. No doubt about

Marcus, don't you dare "walk away." I think there...

2009-05-02T06:56:00.000-04:00

Marcus, don't you dare "walk away." I think there are many of us who almost are "addicted" to your site, judging by the number of repeat commenters (myself included). Lots of us will be left "twisting slowly in the wind."
~Don

They have gone too far, I had huge balances from g...

2009-05-01T23:20:46.363-04:00

They have gone too far, I had huge balances from grad school and was paying them down several hundred dollars a month - which would have taken me 3-5 years to do. Now I am at more like 1,000+ month paying them down, and CAN'T WAIT to get my state, fed income tax returns, (birthday money et cetera), my raise in a couple of months and my year's end bonus all for the purpose of putting it toward my

Hey, Spooky, im curious if i can ask you what cred...

2009-05-01T18:31:18.044-04:00

Hey, Spooky, im curious if i can ask you what credit union you are referring to? I'm in California, so i wonder if its here. WHat you have sounds pretty good. Banks, right now, can put any kind of APR %. However, any Bank in california has Usury laws and can only go up to 18%. Other banks that are headquartered in South Dakota, or Deleware, have different laws and so hence that permits them to

Dear Collins and Sam, I feel the exact same as you...

2009-05-01T18:27:27.493-04:00

Dear Collins and Sam, I feel the exact same as you. I think this would be like the game "monkey in the middle", where a guy in the middle tries to catch the ball and 2 people at both ends throwing the ball. Implication: are we the monkeys?? Why are we sitting here complaining about what the banks are doing, while they throw our credit and money over our heads and we try to chase them? Isn't

Drewbert, nice! On a serious note, I do see me e...

2009-05-01T18:23:36.858-04:00

Drewbert, nice!

On a serious note, I do see me eventually turning this over to someone. I can't imagine that I'll be able to keep it going in the manner that people are used to.

Sure, I'll just add it to the Drewbert empire. Cur...

2009-05-01T18:22:09.131-04:00

Sure, I'll just add it to the Drewbert empire. Currently 4 sites and counting.

Soon I'll have more brands than General Motors.

Drewbert, at some point I will have to turn the bl...

2009-05-01T18:16:59.068-04:00

Drewbert, at some point I will have to turn the blog over to you!!

And lose that MyFico revenue stream? Doesn't sound...

2009-05-01T18:15:54.637-04:00

And lose that MyFico revenue stream? Doesn't sound like a sound business plan to me.

But you make a false assumption. Even if everyone paid in full, that doesn't mean there won't be credit issues of all sorts out there to be discussed.

How is this for a goal? I am looking forward to th...

2009-05-01T17:46:02.739-04:00

How is this for a goal? I am looking forward to the day when I can just close up my blog and walk away. Everyone will pay in full and I will be irrelevant!

Works for me.

I've paid down two cards and use them as pay in fu...

2009-05-01T17:44:14.054-04:00

I've paid down two cards and use them as pay in full cards and I'm paying off the rest of them as fast as I can. Once I'm done, I will keep my two PIF cards and my oldest card which also has my highest credit limit for super emergencies. I've built up a reserve equal to the credit line of that card so that credit card ends up being PIF in the event of an emergency. I'm not going down the credit

Spooky, I love it (your irony comment).

2009-05-01T15:42:39.662-04:00

Spooky, I love it (your irony comment).

My credit union recently announced that, antidisun...

2009-05-01T15:36:48.579-04:00

My credit union recently announced that, antidisunirregardless of which of their five credit-card products you have, your APR will soon be based on your TransUnion FICO score. It works like this:

FICO 720 or over = 8.99%
680-719 = 10.99%
640-679 = 14.99%
600-639 = 16.99%
599 or less = 21.99%

Frankly, my credit union isn't

Anon, I pointed to that Debit-card story yesterday...

2009-05-01T14:08:49.742-04:00

Anon, I pointed to that Debit-card story yesterday:

http://www.creditmattersblog.com/2009/04/debit-card-use-overtakes-credit.html

VERY timely... note the breaking news from WSJ thi...

2009-05-01T14:04:06.317-04:00

VERY timely... note the breaking news from WSJ this morning:

Debit-Card Use Overtakes Credit
Visa's Results Show Tilt Toward Paying It Now

CDP, you did confuse me! I thought you were Dave. ...

2009-05-01T12:51:59.006-04:00

CDP, you did confuse me! I thought you were Dave. Sorry about that.

Thanks for the Dave link, though.

Your question confused me ("Who the heck is Dave?"...

2009-05-01T12:50:49.379-04:00

Your question confused me ("Who the heck is Dave?") until I realized that you must mean Dave Hanson, the author of the article I've been linking to. Sorry, I am not Dave. I don't really know anything about him, except... he was smart enough to recognize this Chase action as a "bombshell" even before the angry victims started to make themselves heard. This puts him in stark contrast with the

Ok, so the card companies are able to jack rates a...

2009-05-01T12:37:14.903-04:00

Ok, so the card companies are able to jack rates and generally jerk you around however they please according to the fine print. I get that. I guess my message for my bank would be "Just because you CAN doesn't mean you SHOULD." The shotgun approach to ratejacking doesn't sit well with me. Mistreat me once and it'll be a long time if ever before I come back. I've lived without baseball since the

I was firmly in the PIF camp when I rejoined the m...

2009-05-01T12:33:48.729-04:00

I was firmly in the PIF camp when I rejoined the market as a credit card customer a year and a half ago. I'm not finished with repair, but I've made a lot of progress. Now that I realize, on a very real level, not just academically, how important credit scores are, I'll never be without plastic.

My cards aren't PIF at the moment, but that was a financial aid snafu at school and it's

Dave, what's your blog address?

2009-05-01T12:10:02.397-04:00

Dave, what's your blog address?

Will I ever trust a bank again? I guess it's real...

2009-05-01T12:08:12.816-04:00

Will I ever trust a bank again? I guess it's really up to Obama.

Think about it. Why does anyone trust any bank? When you enter into a relationship with a bank, you make yourself vulnerable to a wide array of potential crimes, which the bank could commit against you if it wanted to.

At least since the Roosevelt administration, people have trusted banks because they have

Anyone that is goal driven, long term thinkers, ca...

2009-05-01T11:39:00.825-04:00

Anyone that is goal driven, long term thinkers, can't achieve their financial goals in a chaotic enviroment. Long term thinkers hate chaos. Credit card companies are acting chaotically with limits, fees, rates, and customer service. People want to know that if they pay on time, keep their score high, and maintain a low balance that their limit and rate will be there for them.