Even the President thinks "Enough is Enough, on Credit Card Tactics" Just read it for yourself!

Well, when the President of the United States is trying to pass legislation and speaking out about credit card tactics - you know, enough is enough.

We have been saying for years, "Make sure you READ the fine print".  Credit card companies are famous for sticking in huge penalty fees, here, there, and everywhere.  Most consumers are not aware of this until it happens to them.

Some credit card companies still include the universal default clause in its fine print.  However, some companies have done away with it.  But the ones who did away with it just found other ways to include high rate hikes for just one late payment or an over-the-limit fee.

Now, I understand that many Americans are defaulting on their debt, and that's why these companies claim the need to raise rates.  One of the causes of this economic crisis was that too many people were living beyond their means with mortgages they couldn't afford, buying things they couldn't pay for, maxing out on credit cards that they couldn't pay down.  And in the last decade, Americans' credit card debt has increased by 25 percent. Nearly half of all Americans carry a balance on their cards, and those who do have an average balance over $7,000.

I'm sure we all understand all of this.  But the President is right, enough is enough.  It is time we stop the vicious cycle.   The credit card companies need to step up and make some changes to help out the economy.  Remember,  two wrongs never make a right.