Why you should know what you're talking about when you complain

The credit card industry is long overdue for an overhaul. The one being pushed by the Senate and the House certainly has some flaws but the complaints (largely coming from the right) completely miss the boat. If I hear another talking head complain about how this will increase borrowing costs, I'm going to kick someone. Yes! It will increase borrowing costs. It should! Right now, every person that gets a low rate credit card or that proudly pays off their credit card every month is actually a loss for the credit card companies. They are subsidized by the people who have their rate hiked. Credit Card companies have long had a predatory marketing plan.

1) Cast a wide net for cards
2) Set triggers that even reasonable people will occasionally hit
3) Increase fees and rates tremendously as a result

Credit card companies are the only companies (that I'm aware of) that can arbitrarily change the terms and conditions of a loan at their whim (technically, you can opt out of the change and they freeze your credit card... But you have to recognize that a change has occurred).

The changes are going to bring some long overdue sanity to the industry. College students with no job shouldn't be getting credit cards. People who stop paying shouldn't have their debt balloon by over 50% in three months.

Let's work on the parts of the bill that are less then well thought out instead of trotting out these straw man arguments of "cost more".