I really have to laugh at the various credit card companies and their reaction to the imminent passage of new credit card legislation that curtails some of their most egregious activities. Threatening that they may just have to start screwing over their most responsible customers in order to make up for no longer being able to screw over their less than perfect ones as badly.
“Those who have managed their credit well and currently have very good credit card deals will find that card companies are limited in their ability to distinguish between them and those that have credit problems,” Edward Yingling, president of the American Bankers Assn., said in a statement.
“The result will be some subsidy from those that manage their credit well to those that have problems, affecting negatively the terms the former will receive.”
Who do they think they’re kidding? Those most responsible customers don’t need their silly pieces of plastic, after all. They are merely a convenience. Attempt to nickel and dime them, and you’ll see a mass exodus to either those credit card issuers who know that a fairly treated customer can be a profitable one, or off the credit merry go round altogether and using their debit cards.
Or, god forbid, back to cash. The Horror…
