I correct myself CAN LIVE WITHOUT CREDIT CARDS? because if can't, you people are the group of most low self esteem group in existence in the whole planet.

The new law changes are changing the credit card dynamics.   Banks who issue cards used to make the bulk of their money on people who were poor users of credit.  They did this by higher penalty rates (if you were a day late), overlimit charges, late fees, high cash advanace rates.    NOW, with the new rule changes, good users of credit will be forced to pay to make up for lost revenue.   Don't be surprised if annual fees return or even the loss of a grace period; so that EVERYONE pays interest.

Wake up America.  The banks have collected from you and the government and they want more and more.  The nation owes almost a trillion in CC debt.  What will they do if everyone just says no and stops payment for about three months.  They can't do anything.  It's time for America to stop getting the shaft and then wake up and stop buying on credit.

If we Americans stood up to these big banks and all with held a payment on all credit cards for 6 months, the banks would collapse. That is something to think about. When the financial markets and the US dollar collapse they will not get a dime anyhow.

You go rebel dude!  Bad divorce 15 years ago caused my CC debt to climb over $50,000- I "opted out" of an interest increase from 9% to 24.99% from Chase and about the same from Bank of America.  When I finally got everything paid off, they didnt close the account as advertised in the "opt out" statement, but kept them open, sent me new cards, and kept my interest rates at about 9% on the average.  Now I use them rarely and pay them off as I go, and my credit rating is near 800 with no debt whatsoever.  Pay as you go is the key!

For DSmith,

I think your tinfoil hat might be on crooked.

Ah, they won't go broke, so long as the Pres and Congress keep bailing them out. I'm confused though... if I need more money, which I do, I can't walk into my boss' office and just tell him, "Hey I'm short this mont, put some more money in my pay this week." I'm sure that would result in a swift kick in the pants as I exited his office on the way to the unemployment line.

My point?

Congress works for us folks, they are spending our money and we act like it is the other way around. Congress has bailed out the banking industry, but little of this bailout has made it to the consumer. The very people who need the help are the ones paying for the bailout and then the companies being bailed out are uping rates and forcing those same people to pay again. Talk about double billing!

My thought is that in the next election, regardelss of what party affiliation the candidate may have, if they voted in favor of the bailouts, I will politely vote for the opposition. This thought process has been passed on to all of my voting family and friends as well with the aid of a simple printout from the congressional website.

Grumpy --- That is what they said to Noah when he warned people about the great flood. Millions of people died. Read some of these expert articles on line. Listen to Dick Morris and Glenn Beck. I think you must be one of these left wing liberals that think Obama is GOD.

DSmith,  Seriously?  Glenn Beck?  And you are now Noah?  Well, if you are getting your "information" from Gleen Beck, I understand.  

The reality is if enough people refuse to pay there is little that can be done.  And this may very well happen if un-employment rises to the levels of the Great Depression.  The banks can't sue 20 or 30 million people out of work who happen to have a credit card balance they can't pay.  And more and more people are just deciding not to pay anyway because of the ripoff.  Maybe this is the revolution the nation needs.