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

[pizza1]

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@Anonymous wrote:
Not buying it.

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

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this sounds a little political Nixon...I think we should keep to topic (hehehehe)  

[ScarletFever]

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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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My, how people are over-sensitive to charges of politicization. It's a legitimate question, and thought of it myself. Potential rate hikes by Yellen & Co. will complicate recent economic reports that  have downgraded their outlook for growth for 2015. Growth is adjusted down to 1.6 percent, a paltry growth number. Combined with a muddled, at best, economic picture-lower unemployment and cheap oil and a strong dollar, but slow wage growth, record jobseekers not counted, sluggish housing, slow retail sales and manufacturing, etc- it's not rocket science to understand these economic factors combined with a rate hike will dramatically change the economy and make creditors change their lending strategy, impacting all cardholder agreements whether they carry a balance or not.  That being said, as cardholders, your card issuer can only raise your rate on future purchases,unless your account is seriously delinquent. Plus, fixed-rate cards are set at the number spelled out in the agreement. However, the cc issuer can change the agreement in 15 days. The timing of changes and any decisions by card issuers can change any term of the cc agreement, including the interest rate, within the 15 day window, though.

[Shogun]

We don't talk politics on the boards because it is one of the things that is explicitly forbidden.  Not a grey area.  With that being said, this is an informative thread, let's keep it on track.

[Anonymous]

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@Shogun wrote:

We don't talk politics on the boards because it is one of the things that is explicitly forbidden.  Not a grey area.  With that being said, this is an informative thread, let's keep it on track.

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What constitutes actual political talk though. That in itself has it's own subset of 50 shades......of grey.

The mere mention of a name? I think not. Meet shade number one.

In any case, While I saw this coming sometime over the next couple of years, I didn't see it coming THIS year. Which is why I feel a personal need to get some APR's lowered as much as possible.

[Shogun]

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@Anonymous wrote:

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@Shogun wrote:

We don't talk politics on the boards because it is one of the things that is explicitly forbidden.  Not a grey area.  With that being said, this is an informative thread, let's keep it on track.

---

What constitutes actual political talk though. That in itself has it's own subset of 50 shades......of grey.

The mere mention of a name? I think not. Meet shade number one.

In any case, While I saw this coming sometime over the next couple of years, I didn't see it coming THIS year. Which is why I feel a personal need to get some APR's lowered as much as possible.

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Nope.. No shades.  Black and white.  So Sayeth the hammer!  

[Anonymous]

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@Shogun wrote:

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@Anonymous wrote:

---

@Shogun wrote:

We don't talk politics on the boards because it is one of the things that is explicitly forbidden.  Not a grey area.  With that being said, this is an informative thread, let's keep it on track.

---

What constitutes actual political talk though. That in itself has it's own subset of 50 shades......of grey.

The mere mention of a name? I think not. Meet shade number one.

In any case, While I saw this coming sometime over the next couple of years, I didn't see it coming THIS year. Which is why I feel a personal need to get some APR's lowered as much as possible.

---

Nope.. No shades.  Black and white.  So Sayeth the hammer!  

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MC?

[Shogun]

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@Anonymous wrote:

---

@Shogun wrote:

---

@Anonymous wrote:

---

@Shogun wrote:

We don't talk politics on the boards because it is one of the things that is explicitly forbidden.  Not a grey area.  With that being said, this is an informative thread, let's keep it on track.

---

What constitutes actual political talk though. That in itself has it's own subset of 50 shades......of grey.

The mere mention of a name? I think not. Meet shade number one.

In any case, While I saw this coming sometime over the next couple of years, I didn't see it coming THIS year. Which is why I feel a personal need to get some APR's lowered as much as possible.

---

Nope.. No shades.  Black and white.  So Sayeth the hammer!  

---

MC?

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Really,,, trying to be all Internet bad on you and you've got me laughing......  Just play Nice buddy.

[Open123]

When interest rates do rise, I think there will be more promo rate balance transfers and the reduction or outright elimination of generous sign-up bonuses.  

[yfan]

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@ScarletFever wrote:

My, how people are over-sensitive to charges of politicization. It's a legitimate question, and thought of it myself. Potential rate hikes by Yellen & Co. will complicate recent economic reports that  have downgraded their outlook for growth for 2015. Growth is adjusted down to 1.6 percent, a paltry growth number. Combined with a muddled, at best, economic picture-lower unemployment and cheap oil and a strong dollar, but slow wage growth, record jobseekers not counted, sluggish housing, slow retail sales and manufacturing, etc- it's not rocket science to understand these economic factors combined with a rate hike will dramatically change the economy and make creditors change their lending strategy, impacting all cardholder agreements whether they carry a balance or not.

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Off topic. While as someone professionally trained in economics I would be happy to discuss why essentially all of your assertions are bunk, this is not the forum to do so. This isn't an ecnomics policy forum, and this thread - by OP's own admission - is not about economic policy. It's about how a possible Fed rate hike can impact credit card interest, and a modertator has indicated that we should steer clear of Chairman Yellen's (or anyone else's) politics here. A broader discussion of economic policy will inevitably invoke politics and political passions.

But if I'm wrong and a moderator here wants to give the green light to disucss economic policy, I can talk all about the economic benefits of a slightly higher Fed rate at this economic climate.

[Anonymous]

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@yfan wrote:

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@ScarletFever wrote:

My, how people are over-sensitive to charges of politicization. It's a legitimate question, and thought of it myself. Potential rate hikes by Yellen & Co. will complicate recent economic reports that  have downgraded their outlook for growth for 2015. Growth is adjusted down to 1.6 percent, a paltry growth number. Combined with a muddled, at best, economic picture-lower unemployment and cheap oil and a strong dollar, but slow wage growth, record jobseekers not counted, sluggish housing, slow retail sales and manufacturing, etc- it's not rocket science to understand these economic factors combined with a rate hike will dramatically change the economy and make creditors change their lending strategy, impacting all cardholder agreements whether they carry a balance or not.

---

Off topic. While as someone professionally trained in economics I would be happy to discuss why essentially all of your assertions are bunk, this is not the forum to do so. This isn't an ecnomics policy forum, and this thread - by OP's own admission - is not about economic policy. It's about how a possible Fed rate hike can impact credit card interest, and a modertator has indicated that we should steer clear of Chairman Yellen's (or anyone else's) politics here. A broader discussion of economic policy will inevitably invoke politics and political passions.

But if I'm wrong and a moderator here wants to give the green light to disucss economic policy, I can talk all about the economic benefits of a slightly higher Fed rate at this economic climate.

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Besides stock prices?

Do indulge.