def:

I'm looking for a really good article on this subject that I recently read....

You cant find out exactly what affects credit scores....It's a trade secret of the scorers

If you even apply  for a card -you get a ding.

I maintain that this theft became more onerous once the bankruptcy laws were made more strict....

of course it has to be a trade secret. there is only 2 moats to this business.

1) Government regulation: Not just any company can come to the market and start rating entities (be it debt rating or personal credit rating). see how there is an oligopoly of 3 companies in each of those business.

2) the credit scoring formula. If that formula is known, just about any tom dick and harry can come in the business and there wouldnt be any moat in it now would it.Credit/Debt scoring is not a commodity business.  

so i care to explain whats the problem with the scoring formula being a secret ? 

and what theft are you talking about ? the high interest rates ?

how about you start putting up some collateral and see how fast the rates come down. you want the congress to allow the credit card companies to repossess your house if you cant pay the bills. I promise you (strike that, guarrantee you) that the interest rates will be lower than 10%.

Deal or no deal ?

Its one thing to do political posturing. I dont blame the politicians for doing what they do. its their job to posture in front of their constituents to get votes.what i cant stand is people ignoring basic common sense in this matter

The rates of CC loans are NATURALLY high because of the combination of default risk and lack of collateral. since its backed by no collateral they have to recoup by charging people higher rates. forcing rates lower or putting caps is NOT going to solve the problem.

Someone please give me 1 logic...in favor of capping rates.