Impact of new credit card regulations on SAHP's

iVillage Member
Registered: 11-22-2000
Impact of new credit card regulations on SAHP's
1062
Wed, 10-19-2011 - 11:38am

I saw a little bit about this this morning, and immediately thought of this board.


Pages

iVillage Member
Registered: 11-22-2000

How are they "shouldering the burden" unless she defaults?


iVillage Member
Registered: 01-15-2006

a couple thoughts come to mind, i don't think it places an abused woman in any more of a disadvantage.

 

iVillage Member
Registered: 12-07-2003
I'd also just like to say that the problem credit card companies are having with defaulting is mostly a problem of their own creation. How on earth could they consider giving a college freshman with an income of less than $5,000/year a credit card with a $10,000 limit? I'm all for responsibility, but credit card companies have been ignoring income when setting limits for years. Not only that, they give cards to young people who (to be honest) are often lacking the critical thinking and financial knowledge necessary to make good decisions about money and credit. Then when they graduate, they are saddled with credit card bills that they will struggle to pay off, especially as credit card companies raise their interest rates. /endrant
iVillage Member
Registered: 02-04-2009

It's easy to see how they considered giving such huge credit limits to college freshmen--they were looking at economic and financial servitude--bury them in debt in their youth and they'll spend their entire adulthood paying it off--and at predatory rates, too.

************

Kitty

"If you can't annoy somebody with what you write, I think there's little point in writing."-- Kingsley Amis, British novelist, 1971 t .

iVillage Member
Registered: 05-13-2009


What? How is this administration allowing people with sloppy bad credit to borrow again?

What did the previous admin tighten? (to ill effect, I guess)
iVillage Member
Registered: 06-04-2003

Yes. Actually everybody is assuming she will default. That is the risk and the credit card companies are not being forced to take a risk on a person that has a high risk.

Would you cosign her card?

iVillage Member
Registered: 06-04-2003

I don't thinking having a spouse cosign causes undo burden on somebody if it protects the economy just like security lines at the airport are a pain but protect security. Unless you husband refuses to cosign then you are not really affected.

I think it is an annoyance but I don't think we are going back to the 60's.

iVillage Member
Registered: 11-22-2000

That would depend on what I knew about her situation.


iVillage Member
Registered: 01-05-2000

My thoughts--when I was a sahm, dh's income was my income.

The truth may be out there but lies are in your head. Terry Pratchett

iVillage Member
Registered: 12-07-2003
If it meant the difference between her staying in an abusive relationship or leaving, I would cosign.

Pages