dickey1331 wrote:I have a Chase Government card. I dont think the Government is going to go out if business so I dont worry about them not paying me back.
If any private company operated the way the government does, they'd either be 1. getting government bailouts to stay afloat or 2. BK.
I'm not entirely convinced that at some point the US government won't default on its massive debt load. If I were a potential lender to the US government, I sure wouldn't loan them anything. I mean think about it, from the traditional lending standpoint our government is in debt over its eyeballs, there is no real plan to ever pay it down just a lot of pie in the sky optimistic promises (oh yeah I expect to get a better job in a few years that pays more money - tell that to say Amex and see how far it gets you) and they've already gotten an increase in APR for the first time ever a couple of years ago when they played politics with the debt. To me that does not look like the picture of stability. As an analyst I simply would not extend them further credit and I'd be VERY worried about ever getting paid what they owe in the first place.
Now granted for your card, yeah it's probably not a huge worry but something to think about. This government is anything but what you'd call "fiscally responsible" though they sure as hell do enough preaching of that to everyone else. Personally I believe in the concept, I just don't see that our government actually practices it.