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.


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iVillage Member
Registered: 01-15-2006
banks chose to make loans for people who want them, that's how underwriting works. but the blame game is nothing new, Lol. carry on.....

 

iVillage Member
Registered: 06-04-2003

Would be okay if I forced you to cosign? multiple people's cards? that you have never met? That is in essence what was happening to credit card companies.

They are betting on married couples - staying together. That is a losing bet.

If I had a SAHM mom friend that wanted to borrow $10,000 and was married to a dude that made enought money to pay me back I would possibly lend the money. If she told me she was leaving her husband and had no job and no way to make money I would not. It's basic math.

iVillage Member
Registered: 05-13-2009
Banks make loans and issue credit cards to make money. The fact that they did a poor job of it before the financial crash in 2008 was solely based on corporate greed and bad fiscal policy.
iVillage Member
Registered: 01-15-2006

actually, credit changes in 2009 prevent college kids from applying for credit unless they have an adult co-signer.

 

iVillage Member
Registered: 06-04-2003

Actually saving account are taken into account when determining credit risk and amout of credit to extend. So if you have means to pay then you would be extended credit. Income is not the only factor.

I have SAHM friends with trust funds - they can get a credit card in their name with higher credit than their H's.

iVillage Member
Registered: 01-15-2006
it takes two to tangle, nobody MAKES someone borrow. and your position about mortgage brokers is different than mine too, i would never suck up to what a broker wants me to hear when i can trust a bank and get the best rates there!

 

iVillage Member
Registered: 08-22-2009

iVillage Member
Registered: 11-22-2000

What if the resource in question is not her own savings?


iVillage Member
Registered: 01-08-2009

I'm not impressed by banks recently.

iVillage Member
Registered: 05-13-2009
You keep saying subprime borrowers are free to borrow again. Who's lending to them? Everything I know about the mortgage market is that they are lending to prime borrowers only.

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