• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Credit Card Losses and Credit Scores

Miss Marty

TUG Member
Joined
Jun 6, 2005
Messages
4,008
Reaction score
342
Points
468
The Coronavirus Pandemic threatens Billions
in credit card losses for banks & credit unions

Do you think that banks and credit unions should reduced or limit credit card usage during these unusual times as the coronavirus pandemic shutter`s businesses and more people are on limited income and/or unemployed & unable to make payments.

On, March 18, 2020 two members of the Senate Banking Committee introduced a bill which would protect consumer credit scores during the Covid -19 pandemic. Anyone know if the bill passed?
 

am1

TUG Member
Joined
Dec 3, 2009
Messages
8,128
Reaction score
1,544
Points
448
I would. Very easy for people to run up a huge balance. Credit scores should change as seen fit by the credit scoring companies. Anything less and they may as well stop being used by lenders.
 

VacationForever

TUG Review Crew
TUG Member
Joined
Dec 5, 2010
Messages
16,508
Reaction score
11,150
Points
1,048
Location
Somewhere Out There
Do you think that banks and credit unions should reduced or limit credit card usage during these unusual times as the coronavirus pandemic shutter`s businesses and more people are on limited income and/or unemployed & unable to make payments.
Nope. I have been buying lots of stuff online using my credit card. I just spent $400 today, $250 yesterday etc... Being able to use credit card is a separate problem from making payments. If you tie the 2 together then it is an issue for folks who have no issue in paying off the charges in full each month.

The problem is that credit card companies are sometimes too liberal in granting credit cards with high limit to applicants.

Heck, my combined credit limit of my cards is more than $200K. If I use them all at the same time, I won't be able to pay off the balance. My combined limit should probably be closer to 10% of that.
 
Top