In their continuing effort to save us from ourselves, the House of Representatives is considering a bill named the “Credit Cardholders Bill of Rights“ while their counterparts in the Senate debate a similar measure, the “Credit Card Accountability, Responsibility and Disclosure Act.”
Here’s my recommendation:
1) You have the right to pay cash for the stuff you want.
2) You have the right to live within your means.
3) You have the right to pay your credit card balances in full each month.
4) You have the right to thumb your nose at the credit card companies by using their money for 30 days and then paying them off.
5) You have the right to shop around for a credit card that doesn’t have an annual fee (They can set interest at 523% if they want. Who cares what the rate is if you don’t carry a balance?)
6) You have the right to not have any credit cards.
7) You have the right to be stupid, spend beyond your means, depend on a credit card company for your cash flow & whine to your government when you can’t pay the bill.
Your fellow citizens have the right to tell you to grow up.
Now, can we let Washington get back to work on reducing the federal deficit by more than a few pennies a time, actually doing something tangible to help the middle class & taking advantage of the alleged good will we now enjoy throughout the world?
