Credit Card "Bill of Rights"

pvolcko wrote:So, your own personal experience proves my point. Thanks.

Devil505 wrote:Yes they do preclude trials from happening,...or try to anyway!.....That's the entire purpose for their requiring arbitration.....To take away your rights to be heard in court. (it's really an intimidation attempt anyway.

My clear point was that requiring arbitration is a shameful attempt to coerce people into believing they have no civil court recourse.You are grabbing at straws here Paul.

I was typing up an explanation of how your proposed fixed interest scheme will result in higher rates and/or lower credit limits than are currently used/available, even for responsible credit users. But I realized, given how these discussions have gone between us in the past, you probably wouldn't accept the analysis and argument since I don't have a PhD in economics. So I nuke it and leave you with this:

pvolcko wrote:I was typing up an explanation of how your proposed fixed interest scheme will result in higher rates and/or lower credit limits than are currently used/available, even for responsible credit users. But I realized, given how these discussions have gone between us in the past, you probably wouldn't accept the analysis and argument since I don't have a PhD in economics. So I nuke it and leave you with this:

I'm not sure I get your point here Paul?? I don't require a PHD...What I do require is a logical argument. As far as a fixed interest rate, YES.....I will not compromise on that point. If I sign a contract to buy a car for $20,000.00, I expect that price to be FIXED after we sign the purchase & sales agreement & not for the dealer to be able to later change the terms of the contract at their whim. I also expect a clear contract that is not designed to "Trick" me with legal BS designed to deceive. If the only way a CC Company can provide lower rates is through deception, I'll gladly pay the higher rate & not be deceived.

I think you & I just have very different views on government's legitimate role in our society & that you appear to believe that anything should go & that the Free Market will always work out best. (this should come as no surprise as you come from a business background & I come from a federal law enforcement one......You are a player & I am a Field Judge! ) What's going on with our economy shows that your way (& GW Bush's) does not work......RULES are needed for any society to work & an impartial umpire(government) is needed to uphold the rules.

How well would an NFL game go if their were no Officials to uphold the rules? Well, for the last 8 years, GW Bush's team has had the ball & not allowed any officials on the field to uphold the rules.....& look where we are! ( Coach GW Bush has insisted on 5 or even 6 downs per possession...The other team gets one ...... His players can get up, after being tackled, & continue running for a TD/ The other team is not allowed to run at all...just walk swiftly.......His team gets unlimited time outs & the opposing team gets none)

Get my point? Rules (Legitimate oversight) plays a very important role in our society & business cannot be allowed to play the game without rules any more.