Reply #1: The bankruptcy bill that the credit card companies had their pet legislators

[tblue37]

pass ended up killing the goose that laid the golden egg. Now people are paying down debt as fast as they can and not racking up new debt. Now that the credit card companies can change your interest rate to 29%, even if you never pay late, because they deliberately don't credit your payment on time, even if they received it on time, or you somehow managed to have your water bill get to the utility company a day late, even though you never were late with a cerdit card payment--well, people sit up and take notice of that.

I have been paying off all my cards, so that by the end of the year I will be completely free of credit card debt. Citibank keeps calling and trying to get me to use my card. I laugh at them. They increased my credit limit just recently. I laugh at them. How can we win you back? they wonder. I laugh at them.

I bet a lot of people are doing just what I am doing, because the way the bankruptcy bill has stacked the deck against the consumer means that the convenience of a credit card is just not worth it any more.