“Credit Check”

President Obama is pursuing legislation to protect credit card users from sneaky fees and rate-hikes. Credit card companies have been threatening and intimidating card-holders for years with Big Brother-like phrases such as “Visa: it’s everywhere you want to be.”

Until the economy recovers, the government wants to make sure people are still able to buy necessities such as iPods and HD TVs.

By whittling down the needless fees and hidden costs of credit cards, Obama’s strategy is to force credit card companies into a position where they, too, need a federal government bailout.

Visa, Mastercard, and others may try to fight such legislation. Some customers are already finding that their credit cards have literally been cancelled due to lack of interest.

The Discover card has not been a part of these discussions, mostly because everyone has forgotten that they exist.