Customer Beware

Now I understand the President will dig his fingers into credit card charges. He doesn't seem to like the practices of raising finance charges, fees, and required minimum payments.

Let the customer beware. Let the businesses continue with their practices. The market will find balance.

If your card is demanding a larger minimum payment amd/or has added more in fees and finance charges, go shopping for another card. It is in the free market competition that these things will work out.

I believe the government controlling mortgages (forcing lenders to loan to unemployed, zero down, citizens or not), controlling banks (forcing TARP $ on many who did not want or need it), and wanting to help those who are victims of credit cards is dangerous.

I think it is unconstitutional. Let the buyer beware. Sign the adjustable mortgage and realize there is no "parent" who will protect you from the details of your mortgage. It will adjust.

Sign up with a credit card only after reading the small print and all the details included with your monthly statement. It is in those details and your action to accept them, that is the law.

The law does not allow for false presentations. These companies are within the law and the customer is free to find another relationship that better fits their incomes and needs.

Please, Mr. President, do not remove the law and remove our freedoms. Stop.

'til later