Credit Card reform Act 2006 vs. Universal Default Clause
Stan-I took the time and have sent messages to both of my repres
Stan-I took the time and have sent messages to both of my representatives-thanks for finding this...Karen
This is absolutely necessary, especially concerning American Exp
This is absolutely necessary, especially concerning American Express. I can't think of a credit card company who encourages overspending and reckless credit use than them. People hired simply to activate the accounts are also required to meet certain sales quotas for additional cards, balance transfers, and other things that encourage reckless credit card use, and whenever I did a balance transfer for somebody, I was appalled at the size of the balances they carried! It would be overwhelming to me! I always said that I expected a major debt crisis for American Express in the future. They do indeed need to encourage responsibility. You see these television ads for liquor with a disclaimer saying "Drink responsibly". Credit cards should come with a similar disclaimer on spending!
Submitted by Jedi Mistress Ari on Sat, 09/09/2006 - 17:24
Stan,my representatives have already contacted me via e-mail and
Stan,my representatives have already contacted me via e-mail and said they would consider this and do some more investigating on it-wish everyone would write theirs. Something needs to be done!...Karen