- NEW!
by More2Be on October 30th, 2009
They do already. I am one of the people who has a good credit history and (thankfully) a job. I had been dealing with old debt (left over from unemployed days)by transferring it from account to account to take advantage of 6 month and 12 month no-interest deals.
Now that the institutions have interest restrictions, they are trying to recover revenues by jacking up fees that affect those like myself. I used to transfer funds with no transfer fee. That fee crept up to 2% of transfer amount. Now it is over 4% and in some cases 5% or 6%, essentially negating the effect of "interest-free".
So, once again the uncreditworthy get a break thanks to big-government while the frugal, industrious, and intelligent people get burned. Such is the way of government mandates and give-aways.
by Scifisuz on October 30th, 2009
I understand that the real heart of the changes were gutted/eliminated. Banks will find their way to profits around the legalese at the expense of their customers.
So it may affect customers differently than was in place before. Someone like me , who pays balance in full every month , may not be as welcomed anymore.
by Tom on October 30th, 2009
Nope, not at all. You're going to find that there are many loop holes in the newest law. Why is this? Lobbying, my friend.
Look at all the cards today, and how they changed. Instead of a fixed rate, it's variable. Hmm? Why is this again? They can change a variable rate at any time without warning!
Is there a limit on deductions for a W-4?
by Answerbag Staff on July 13th, 2010
| 1 person likes this
What kind of house can be bought with the first time home buyer credit?
by Answerbag Staff on July 12th, 2010
| 1 person likes this
Is the United States government a non-profit organization?
by Answerbag Staff on July 11th, 2010
| 1 person likes this
How does the tax law directly benefit all individual income tax payers regardless of their income tax bracket, socially and economically?
by Melinda55 on October 5th, 2011
| 1 person likes this
some one has been claiming me on their icome tax returns without my knowledge. can i have them locked up?
by misterpoo on August 30th, 2011
| 1 person likes this
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