Losts of nonsense posted here. Here's a tip. Don't use money you don't have, and know you won't have in the near future, that's what makes a lender a lender, they seem very persuasive by offering you a nice big sum of $$, but once you go shop happy, you find yourself F--ked! It's better to have no credit cards than to have one or two that you cannot pay off in short term. Interest rates hurt, and if not paying the lenders back, you really get hurt in the pocket. I've been there, do not own a single card at this point, successfully paid off over $5,000 after a nightmarish 3 years while doing the paycheck to paycheck get by and attending college. And you bet my sleep was very nerve wrecking. Having experienced this and now not having any debt of such monstrosity feels good, better than having than releasing your bowels when you have to go real bad. Save then spend, not the other way around.

I usually see people who are in so deep that they don’t choice but to use their credit cards, these folks are struggling along working paycheck to paycheck and after the mortgage or rent is paid the utilities and the minimums on the credit cards there is no more left. One has to wonder if the credit card reform measures will actually do any good at all. Granted, it isn't as if anyone can reasonably lose sleep worrying about any credit card company, and the interest and fees can send a lot of people running for payday loans in no time, and it isn't easy to sympathize much with the lending industry in general. That said, there is a demand for their services, and without supply, people are going to turn to alternate means. Granted, the smart ones will start saving more money. But what are the effects of these laws going to be?

Now, everyone, let's not get ourselves in too much of a snit, let's put it into perspective. Mark is entitled to his opinion, just like everyone else is. Anyone who follows his work knows that Mark makes fun of everyone at different times. He is doing what he and all other political commentators are supposed to do.....getting people talking, getting people angry. He's doing his best to make a living, just like all of us. The day people stop getting mad at his animation is the day he needs to retire.

That being said, the reason he even made the "Tea Bag" cartoon is because the movement has millions of members (including myself) and it is effective.

Lastly, this nation is not divided, it is two Americas within the same set of borders. Soon enough it will all really hit the fan anyhow.

The retards in these comments complaining about interest need to look after their hip pocket better.

I wouldn't lend lots of money to strangers for nothing. Would you? No.
It's a business.

Vote with your feet. I don't even have a credit card. I save, then spend.
Spending someone else's money and not paying it back is -------.

Take responsibility for yourselves.

Somehow I missed this back in October. At this time all of my cards have sent notices doubling my rates, and adding more fees. This would be funny if it weren't so damn true.

when i grew up you couldn't be charged more than 7 % interest anything more was called usury, and you could get locked up
the mafia could charge more....so what are the banks?

Pretty close to being true thats why i have no credit cards and only one loan, everyingthing is either cash or debit for me

In the spirit of being contentious, dare I to defend the credit card companies?

The cartoon does seem to impart an appropriate degree of scum-suckingness.

My jabs are therefore but two:

1. Interest payments are your own darn fault. Pay off your balance immediately, and never use a credit card as a backstop against insolvency.
2. The 'inactivity fees', though fiendish, are understandable. They cover people that don't use their credit card at all (i.e. less than $10.00 a year). The credit card cos waste time and ink printing up the monthly statements, etc.

   Inactivity fees are the creditors' way of saying "you're a dead weight customer, and we don't want you".

Given the phenomenal rate of credit card default (people not listening to point 1), it's not surprising the credit companies are digging a bit deeper for their pound of flesh.

America's unofficial though unfortunately quite real motto
"IN GREED WE TRUST" Its unbelievebly stupid and misguided,
to put it in simple terms.."I know what lets have sex with
rapists", kinda stupid.

why not just pay your bills on time and in full? y'know, use the credit card as a tool, like a check or cash? i do that. its pretty easy.

All but one credit card has gone through the shredder. That was seven years ago (hers) and five years ago (his). The accounts paid off and the accounts closed. That doesn't mean the banks didn't sell the accounts with bogus balance amounts to collection agencies. And the credit bureaus kept changing the account close dates so the account would stay on the report. I have learned more about managing credit reports than I ever wanted to know.
Don't carry a balance and keep tabs on what the spouse is doing.
You get 1 free credit report from each bureau per year and you can challenge information on-line.
If the bank decides to charge me a fee for not carrying a balance, the last card is also going through the shredder.
Pay cash. The government and banks - who are its toadies - hate that.
One last bit of advice. Check your bank's credit score. It is called the "Texas ratio". You can find it on line. I looked it up. It is time to change banks.

Having just watched PBS "Frontline" program on Credit Card scams, this is right on target. Frontline originally aired the program in 2004, but obviously nothing has been done since to improve conditions for the consumer.

ROFL! Like they're not really working on these kinds of fees as we speak.

And our tax dollars bailed out the banks so they could give you this little gem. But it is so upbeat, cool, and hip to pay for everything with credit cards... so say their adverts. But don't regulate the banks...it's a "free" market remember? I must be getting old, I seem to recall that once free meant you didn't have to pay.

The politicians have protected the Credit Card companies, you bet !!!
- I'm confused - - I thought it was the Republicans who do things like that - not the Dems......

- Guess I was wrong - - none of them care about the people......

- Didn't our politicians just vote to protect the citizens?
- They haven't done a very good job protecting us - have they ?

Good Stuff Mark.

This is a big problem for all Americans. But what do you do?
It is not like you can sneak aboard the chase-visa ship and dump all of their tea overboard and I have given up on the govt getting involved for the better.

This is taxation without representation on the corp/credit level.

I can honestly say that I can relate to the colonists in the 1770s.

- StupidPeopleTrick

Fun with Credit Card Reform! Gouging: Don't Leave Home Without It.

-MF