I just received a notice from my credit card company....
I was paying 0% interest on an introductory offer based on my very good credit score (thanks to my wife's financial acumen). But before that, I never paid more tha 9.9% on any credit card.
Now, after my introductory offer expires, I will be paying 17.9%. Why is that?
If you have been following the Obumble Administration's inability to refrain from attacking Capitalism, you'll know he called for a "reining in" of the eeeviiiil credit card companies. He started his demagogic dissembling during the campaign, and credit card rates began to rise after he won the DumbasCrap nomination.
Those who have a credit card know how eeeeviiiilll credit card companies really are.
Credit card companies make you spend more money than you have...Then, when you can't pay back your obscene spending, they actually penalize you by raising your rate.
Pure Evil! Why would these evil people try to recoup money from people who don't pay their bills? What right do they have to expect you to pay your bills on time!?! Damn them!
So anyway, a bill passed the Senate and then the House (nice job on that Coburn amendment by the way) that "reins in" those eeevviiiill companies.
And so, seeing that high risk, no bill-paying scumbags are going to be pandered to by Obama, they are raising rates on everyone.
Your rate will increase as soon as your current card expires. Get ready for another Obama tax increase. Looks like the $13 a week tax cut is being absorbed while you aren't paying attention. More for ciggies, $1300 more for your new car, now more in credit card rates...
Are we really heading in the right direction?
But you know, just like the cigarette tax hike, Obama will simply blow it off by saying "people CHOOSE to use credit cards."