Credit card Bill of Rights - Obama

[cindyw]

Just read this on the Obama issues pages and I love it.

Establish a Credit Card Bill of Rights to Protect Consumers: Obama will create a Credit Card Bill of Rights to protect consumers. The Obama plan will:
Ban Unilateral Changes
Apply Interest Rate Increases Only to Future Debt
Prohibit Interest on Fees
Prohibit "Universal Defaults"
Require Prompt and Fair Crediting of Cardholder Payments

How many of you have had this happen. The credit card company raises your rates and your modest balance sky rockets! This would say that they could not raise interest on previous balance. Also they could not put interest on their fees. I think this is fantastic. And applying payments is huge. I had to stop paying through the mail because 2 weeks after mailing they would still not have applied my payments and then charge me fees for being late. This would help people in ways they might now be fully understanding. I think people just keep paying the minimum and never get anywhere and cannot figure out why. I know it happened to me.

Can Edwards supporters tell me if he has anything like this.

[Colobo]

1. Gobama!

[Eurobabe]

2. If he brings back the bankruptcy bill that allows

people to discharge all credit card debt, he's got my vote. :evilgrin:

[Kucinich4America]

3. Uh... you do realize the irony here don't you?

Posting that statement with a pic of Joe Biden in your signature :evilgrin:

Someone needs to reign in the credit card thieves. I would applaud Obama for doing so, but he could do that from the Senate.

[Eurobabe]

5. I never said I agreed with Joe on ALL the issues

Does anyone totally LOVE their candidate 100%? I doubt it.

I make no apologies for my Biden signature. :hi:

[deminatl]

4. i am all for it

that save a lot of people from those predators

[Alexander]

6. But....but....he has NO SUBSTANCE!

Seriously, this is a great plan.