The REAL CREDIT CRUNCH wasn't caused by Mortgage accelerations, it was caused by the runaway interest rates that the government is allowing the Credit Card companies and the banks to charge for card use.

While I agree that if you miss a payment on your credit card balance you should pay a "late fee"but the amount of the "late fees" has become obscene. There must be better regulation of the amount that interest rates can be increased! The greed that these companies represent is astounding and must be brought under control! The well being of those on fixed incomes demands better more sane management.

The "new" Credit Card insensitive's(new "discount" charge catalogues run to help you make new charges to your account are there so that the credit card companies can increase your interest without much notice to you. If you allow these charges to be made to your account your playing into the hands of those with no integrity who are not interested in a long term relationship with their credit card holders just trying to run a scam as quick as they can!

LOOK at mylousycredit.com