Yellin going to have us yelling or screaming? Come June.

[BarryNTexas]

I have a plan to pay off my card balances by end of April and will certianly look to sock drawer or try to negotiate a lower apr on my high interest cards by June.  If Janet Yellin pulls the trigger on a rate hike all variable rate cards will feel the pain.  Snagging a few 0% APR offers by end of May might also make sense too.  And I'm also going to try to lock a decent HELOC as well.

Am I over thinking this stuff?  LOL

[yfan]

First of all, the entire Federal Reserve board votes on this, not just one person. Second, this is not the forum to sneak in a little politics with an otherwise legitimate question. Third, if you are planning to have your cards paid off, you have nothing to worry about. Fourth, credit card companies cannot increase interest on existing debt no matter what, so unless you're planning on borrowing and carrying balances after the possible rate hike, I don't see the problem.

[chalupaman]

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@BarryNTexas wrote:

I have a plan to pay off my card balances by end of April and will certianly look to sock drawer or try to negotiate a lower apr on my high interest cards by June.  If Janet Yellin pulls the trigger on a rate hike all variable rate cards will feel the pain.  Snagging a few 0% APR offers by end of May might also make sense too.  And I'm also going to try to lock a decent HELOC as well.

Am I over thinking this stuff?  LOL

---

I don't think you are. Good thinking.

[thom02099]

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@BarryNTexas wrote:

I have a plan to pay off my card balances by end of April and will certianly look to sock drawer or try to negotiate a lower apr on my high interest cards by June.  If Janet Yellin pulls the trigger on a rate hike all variable rate cards will feel the pain.  Snagging a few 0% APR offers by end of May might also make sense too.  And I'm also going to try to lock a decent HELOC as well.

Am I over thinking this stuff?  LOL

---

Yes

http://www.nytimes.com/2015/01/29/business/federal-reserve-rate-decision.html?_r=0

http://money.cnn.com/2015/03/18/investing/federal-reserve-rate-announcement/index.html

http://abcnews.go.com/Business/stocks-soar-fed-hints-interest-rates-rise-job/story?id=29734683

Diverse points of view, but it's not going to happen over night.  Likely that nothing will happen until June.  Of  course, things can always change, but the stock market certainly responded positively.

[Open123]

Nothing to worry about.  Personally, I think Ms. Yellin has done a fabulous job thus far.

[BarryNTexas]

Who is sneaking poltics? 1,2,3,4???? WTH

I thought it was a legit topic.  Thanks for edumacation.

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@yfan wrote:
First of all, the entire Federal Reserve board votes on this, not just one person. Second, this is not the forum to sneak in a little politics with an otherwise legitimate question. Third, if you are planning to have your cards paid off, you have nothing to worry about. Fourth, credit card companies cannot increase interest on existing debt no matter what, so unless you're planning on borrowing and carrying balances after the possible rate hike, I don't see the problem.

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[Anonymous]

Oh gee, what's wrong with a little politics when it affects CCs?

In any case.....where do you even see politics in the original post? Point me there, yfan-san.

[yfan]

You are.

The "legit topic" could have been started without pointing a finger at a specific person, which is the sneaking in politics part, along with asking what this given person is going to make "us" do ("screaming", "yelling" etc).

[FinStar]

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@yfan wrote:

You are.

The "legit topic" could have been started without pointing a finger at a specific person, which is the sneaking in politics part, along with asking what this given person is going to make "us" do ("screaming", "yelling" etc).

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[Anonymous]

Not buying it.

I could say the word "Obama" and it is suddenly political post? Cmon. Lets be reasonable here and keep it FSR.