Posted 5/20/2009 06:48:00 PM by Douglas

Big changes in the credit card business. But is it good news for everyone?

"This cements a victory for every American consumer who has ever suffered at the hands of the credit card industry," said Sen. Christopher Dodd, D-Conn., chairman of the Banking Committee.

But there will be losers too.

Banks, which oppose the legislation, will need to make up the cost somewhere, and cardholders who pay off their balance in full each month could see new annual fees and lucrative rewards programs canceled. Credit could become harder to come by too.

Free money ain't free, retards. Your $20 cash-back comes at someone else's $59 late fee. Wait, is there anyone upset about that transaction? I didn't think so. And then there's this:

If you “have to” use plastic, I suggest a debit card. I use them for travel and the occasional convenience of ordering something over the Internet or phone. Other than that, I use cash.

Personal finance is 80 percent behavior. You need to cut out habits that make you spend more. You do not build wealth with credit cards. Use common sense. When you play with a multibillion-dollar industry and you think you’re going to win at their game, you are naive. You cannot beat the credit card companies.

Would someone give Dave Ramsey a free plane ticket so he'll shut his freakin' pie hole? Ok, most people get in over their heads with credit card debt. But some people make money by paying them off every month. So to say "cash only" is pretty durn stupid, unless, oh, I don't know, you've printed a million or two books citing how evil credit cards are, and how cash only is the only way to go.

Moron

You're a cult. A cult just like Oprah, Mary Kay, and Tupperware, and even they take credit cards, you narcissistic asshole.