Rep Jeb Hensarling Defends High Credit Card Interest Rates [Video] : Diggers Realm

	Home \| Bio \| Contact \| Follow:

Rep Jeb Hensarling Defends High Credit Card Interest Rates [Video]

By / May 5, 2008 08:15 PM

Jeb Hensarling - (Asshat-TX)

Congressman Jeb Hensarling (R-TX) actually had the balls to go on Lou Dobbs May 5, 2008 and declare that it is perfectly OK for credit card companies to promise one interest rate and then all of the sudden decide to jack that rate sky high on consumers without notice.

This is the absolute example of what is wrong with our elected officials in this country. They are bought and paid for by companies who will have them oppose legislation that is in the American consumer's best interests.

There is simply no way in hell that a thinking person could say it is fine for a poor person to get a credit card that will then financially burden them for decades when the interest rate is then turned into lone sharking percentages once there is a balance. It is an injustice that must stop!

However Jeb Hensarling is perfectly fine defending it with a smile on his face.

This makes you long for the days of the Mafia, when interest rates of 30% now look good compared to the 39%+ some credit cards now stick consumers with. At least the Mafia disclosed their terms.

Here's a message for Jeb Hensarling. Maybe these people shouldn't be getting - or being given - credit because they can't afford it! They should not be taken advantage of by companies.

If you're a voter in his district I ask you to spread the word on this crook who is not looking out for your best interests (only the credit card companies "interest").

(Video below)

Venice Florida Vacation

This entry is in the following archive(s):

Next and Previous Entries:

Posted by Digger on May 5, 2008 08:15 PM (Permalink)

TrackBack URL: http://www.diggersrealm.com/mt/mt-saveact.cgi/2787

Comments

It is disgusting when people who are elected to office to serve the people end up serving the interests of the Banking and Credit Card Industry. I am a person who has suffered under the yoke of the 29.9 % interest rate hike. It is a crime that this happens to hard working Americans. I finally decided to put both cards into default as I struggled for 5 years to make the payments. It is time for new Boston Tea party. All American have to do is united and stop making payments to these loan sharks. Sure it hurts your credit but you are strapped with high interest credit cards then you already have bad credit. The credit industry is another racket and that is how they justify jacking up your rates. Mine started out at 12.9 %. It is a cartel and a monopoly as they all cooperate with each other. We can be free by just refusing to pay these unjust fees and penalties. I no longer use a credit card and I never will again. And the good people of Texas should vote the credit card lackey Hensarling out of office.

Posted by: Emery Woodall on May 18, 2008 10:34 AM

So how does the Representative defend the current practice by credit card companies to send out notices that they are raising the card rate on customers with perfect credit histories. They do offer the option of discontinuing use of the card!!
Isn't this called BLACKMAIL? Either accept the rate change from 6.9% to 19.9% or you have to quit using the card!
So far 3 card companies have tried this with me. I was able to reach a human being at Bank of America and he agreed it was not appropriate and rolled back the changes. The other two CAPITOL ONE and WELLS FARGO forward any request to talk to a manager to a recorded announcement machine!
This is legalized extortion and I am so proud of Lou Dobbs. He has the balls to tell it like it is and to tell the crooks in Washington what he thinks about it!!!

Posted by: Ron Whitehurst on April 23, 2009 08:52 AM

So how does the Representative defend the current practice by credit card companies to send out notices that they are raising the card rate on customers with perfect credit histories.

I'd just like to note that almost all credit card companies do not even notify you of rate hikes they just do it and later on you find out.

I had a friend recently who checked their interest rate that they thought was 9% and found out that they had magically changed it to 28% without notification. This friend has perfect credit, is never late and holds a good paying job.

Posted by: Digger on April 23, 2009 11:52 PM

Also see these other great immigration resources
The Dark Side Of Illegal Immigration A 28 part detailed report on the negative impacts of illegal immigration.	Immigration Stance Find out how your members of Congress voted on immigration issues.