Was listening to the news this morning and heard what I think sounds like good news. Who knows what the repercussions will be of the actions the fed have put into motion. More inventive ways to stick it to unsuspecting credit seekers? Opinions? Discuss. http://www.cbsnews.com/stories/2008/12/18/ap/business/main4675050.shtml My take is that the predatory lending tactics I've seen practiced are finally being taken dealt with. Such as: Raising interest rates up to 29% by default for being one day late. Across the board hikes for other cards if the above happens. Credit not being trashed if a day late. I've personally had a card go to the default rate before. I had been having a problem with this card company anyway charging me late fees when I damn well knew I wasn't late. I even went so far as to write a check and send off the bill the same day as I received it in the mail...and it still posted late! Called the company and was told they sometimes held checks "in house." Here is what I see as potential positives: More stringent guidelines for creditworthiness. (Some people shouldn't go anywhere near credit IMO. If you have to pay bills, or other credit with credit, you are in trouble.) Checks and balances for the people against powerful credit card companies. Honest reporting on credit reports. Moderating of high, unreasonable fees. Any comments? Stories? I think this is a long time coming folks.