I am so mad I could spit! I voted for President Obama and he let me down! Just when I thought we would get a break from the credit card interest rate hikes I learned the new law won't help!
I am talking about
this law that the House just approved. It's called the Credit Cardholders' Bill of Rights but it doesn't go into effect until next year.
But what about THIS YEAR? What am I supposed to do when my credit card interest rate goes up 20 points in a couple of weeks? I didn't sign on for that.
And I am told that if I close the credit card account I still have to pay the bill but it hurts my credit score! This is so totally unfair to me and to every other credit card using consumer!
Why do these banks get to increase interest rates and the government bails them out? What is President Obama doing in Washington, smoking crack?
J.P. Morgan and Citibank and Capital One all own the President. He was supposed to tell them to not raise the interest rates. What good does this stupid law do us if the banks get away with tripling our interest rates for no reason?