Banks nervously await new credit card law -- sniff ... sniff

Banks are going to lose some money, but from their record profits not their pockets. Yeah the new law limits how much can they steal from you at a time... and of course they complain while trying to find new creative ways to add some more fees to your statement. Good or bad credit does not matter. Actually the ones that are going to pay are the people with good credit since they are the ones still around with some money in their pocket. According to the article "Issuers will continue to experiment with new methods aimed at reviving the profits they once enjoyed."

Enjoy the article

Top 6 Reasons Why Using Cash-Only Rocks

With all the talk about the credit card companies losing some of their huge profits one cannot miss one simple fact: paying cash is probably the way to go. This post could not do better in outlining the benefits of using cash instead of credit cards:

http://www.wisebread.com/top-6-reasons-why-using-cash-only-rocks

Things that Suck....

In this economy it is hard to avoid noticing that the ones that complain the most are actually reporting record profits. It is hard to comprehend, furthermore accept that the banking industry blamed its customers for its problems in early 2009, ask the Government for a handout of taxpayer money, and now reports record profits for the year... This would be the equivalent of someone complaining of losing their job and lining up at the unemployment counter, yet reporting a million dollar income...

There is so much the government can do. More can be done from the people, and what they can do is stop feeding this banking frenzy. Pay cash and leave the credit card at home...