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How are you and your credit card doing?

Query

Today President Obama is expected to sign into a law a bill that will change the relationship between credit card companies and their customers. But we’ve heard from people in the Public Insight Network, that the recession has already forced them to change how they use credit. What about you?

Tell us how your credit habits are changing.

Discussion: 2 Comments

  • Posted by Betti Johnson on May 22, 2009 11:07 PM

    I haven’t changed my credit card usage. My card of choice is Alaska Airlines via BOA. I put everything on it and pay it off every month. The miles earned offsets the fee for the card. However, should the miles accrual end or be curtailed OR if the card starts accrueing interest from the date of purchase, I will certainly stop using and any other card that starts charging interest from the date of purchase. IMHO the card companies make enough money off of the merchant fees. Although carrying cash will be an inconvenience, if the card companies change the ‘grace period’, I say “Screw them all!”. I’ll revert to a cash society and use Paypal for everything else.

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  • Posted by Kristina Runciman on May 28, 2009 7:06 PM

    I am quite terrified since Advanta closed 1 million small business credit card accounts, giving its customers four days notice. For 18 years I have financed my business with credit cards. I took advantage of 0% offers, kept careful track of when the promotions were to end, and transferred to another before the high interest rates kicked back in. Now I don’t get those offers much, and the balance transfer fees have gone from 0 to 4%. Worse, if more credit card companies go out of business, where is the credit going to come from? The banks aren’t lending. So scary. I just take one day at a time. And buy lottery tickets.

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