Comments on: Credit Card Disclosures: Effective or Not? http://abcnews.go.com/blogs/business/2012/02/credit-card-disclosures-effective-or-not/ The latest Business news and blog posts from ABC News contributors and bloggers. Wed, 22 May 2013 20:33:40 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Erik http://abcnews.go.com/blogs/business/2012/02/credit-card-disclosures-effective-or-not/#comment-1362672 Erik Tue, 28 Feb 2012 06:12:43 +0000 http://abcnews.go.com/blogs/business/?p=60832#comment-1362672 @Mytake - that really would be an interesting study to try. I just think some people are too far gone to be saved. In the end, if we continue to pass regulations to cater to the people who refuse to take some time and realize that spending more money than you make is not sustainable then we wouldn't have this mess to begin with. Forcing credit card companies to add more and more things like this is not the way to get people out of debt and is in the end, ineffective. Education is the most effective way of handling this situation - add require financial courses in college or something similar, then we may see a difference. @Mytake – that really would be an interesting study to try.

I just think some people are too far gone to be saved. In the end, if we continue to pass regulations to cater to the people who refuse to take some time and realize that spending more money than you make is not sustainable then we wouldn’t have this mess to begin with.

Forcing credit card companies to add more and more things like this is not the way to get people out of debt and is in the end, ineffective. Education is the most effective way of handling this situation – add require financial courses in college or something similar, then we may see a difference.

]]> By: MyTake http://abcnews.go.com/blogs/business/2012/02/credit-card-disclosures-effective-or-not/#comment-1301402 MyTake Wed, 22 Feb 2012 20:09:57 +0000 http://abcnews.go.com/blogs/business/?p=60832#comment-1301402 what I'm curious about is whether people even read these enclosures or just toss them out as more junk mail. Someday it would be interesting to see what would happen if a bankcard company put in a line on the enclosure for a known number of statements that read "Call the Service Center before the closing date for this statement to receive a $10 credit on your next statement." what I’m curious about is whether people even read these enclosures or just toss them out as more junk mail. Someday it would be interesting to see what would happen if a bankcard company put in a line on the enclosure for a known number of statements that read “Call the Service Center before the closing date for this statement to receive a $10 credit on your next statement.”

]]>