What's the latest on the Dodd credit card bill? Comments?

[Frustratedlady]

I have a grandson who is asking about the bill, but I've been out of the loop getting ready for Christmas. Any info would be welcome. I have read what came up in a search, but that is all.

[midnight]

1. I must be out of the loop too. K&R. Hopefully someone has the info.

[Eric68601]

2. It's rediculous

They need to do something about cards.

First one of my card companies (CHASE, used to be WA-MU) slashed my credit line in half for no reason, then, I looked at my statement this month, I noticed they jacked up my interest rate to 29.99%

WTF?

I have never been late, and I always pay more then the minimum and keep a low balance.

My current balance on the Chase card is around $210. I told the ole' lady after Christmas is over, I'm paying that sucker off in full and closing the account.

FUCK THAT!!

[Fire1]

3. Don't close it! That goes against your credit rating. n/t

[Frustratedlady]

4. I've heard that. Do you know why?

For whatever reason, it seems the cc companies work against new business, rather than promoting it.

I pay off my balance every month, so they refer to me as a deadbeat. That's a royal insult.

[Fire1]

5. I've found this to be a decent financial site. See link.

http://www.fool.com/personal-finance/credit/dont-cancel-that-credit-card.aspx

[Frustratedlady]

6. Thanks! Interesting article.

[Eric68601]

7. Doesn't matter

Don't matter to me. I'm still closing the account. I won't give them the satisfaction of even getting my annual fee. I have enough lines of credit that I can take the hit to my credit score. I just simply despise JP Morgan/Chase and would never apply with them. The only reason I was forced into it was because of their purchase of Washington Mutual. Ever since they took over it's been nothing but hell.