How the banks gouge you

[StaciMM]

I'm not talking about whatever debts we had before, or how we used credit before. For me personally, I know what the possibilities are if I use credit badly from this point onward. If you know it is dangerous to jump into a pool of quicksand, and do it anyhow, whose fault is it?

what do you do when they raise the interest rates to 30% for whatever reason they choose? which under some circumstances cause you to go overlimit, and then cause more fees plus the reporting of over the limit to the credit bureaus. that was all in the details too.

seems evil to me. people dont really expect to ever have their interest rates increase. in fact, you still dont think your cards will be increased do you? but they can.

"Don't claim ignorance as an excuse ("I didn't know better" is not a valid arguement-if you're here and reading these boards, then you DO know better), and if you put yourself into a situation where you have to pay interest, fees, etc. then don't say its all because of those evil credit card companies."

sorry, credit cards companies are evil. simple as that. ive shown proof that they prey on hard luck individuals, people that are not in great situations and get themeselves deeper. just becuase you know they are evil doesnt mean they are no longere evil. and you know they are evil. and we all know what we mean when we say that. so just becuase we now admit they are evil doesnt mean we are supposed to like their tactics and never say they are evil. need a little context here. it wasnt a thread to ask for help. it was a thread to show how evil they are. the problem is that you let someone childish dupe you into the lame argument he was trying to make - which was really just him trying to show how so much better he is then everyone else.

the thread went off wack becuase of that. period. and most of us didnt let that throw us off track.

[bkfiler]

again, the point of the thread, at first post, was to say that credit card companies are evil. or in your case, that quicksand is dangerous. not to scold the person that is stuck in it up to his lips in it. get it.

[Leftfield]

First, that guy is a joke ... makes me laugh but still ...

You're missing the point stacy. It's about the way they conduct their business. I haven't typed the entire article(it's too damn long for me) Here's some more of it that might help you understand what I'm trying to say. AAAAnnnnnnnnd quote;

Early 1997 figures indicates that, in total, Americans owe $400,000 BILLION in credit card debt! A stggering number, to be sure. Be just as sure that it's the issuers of those handy pieces of plastic who are realizing ENORMOUS PROFITS while you're LOOSING GROUND. Banks and other institutions are aggressively expanding these personal loan borrowings-which rose by more than $7.3 billion by the end of june 1996-because they are counting on a continuing national consumer mentality of buy now/pay later.

[FoolAndHisMoney]

Here's how to save money on fees.

Don't carry a balance.

Pay on time.

It's really easy.

Easier said then done, but you're right (for once) this is the answer to some of our problems that put us here in the first place.

[Becky C]

I'm coming up with all kinds of clever replies to the poor telemarketers trying to get me to sign up for a credit card. (My debit card works just like a credit card, and there's no temptation to buy something I can't afford, so I don't want or need a credit card.)

We had 3 offers by phone today, and one in the mail.

Best one I've come up with so far, is just ask them to hold on for a bit, then lay the phone on the counter and walk away from it for an hour or so. ;)

Becky

[Genenco]

I'm coming up with all kinds of clever replies to the poor telemarketers trying to get me to sign up for a credit card. (My debit card works just like a credit card, and there's no temptation to buy something I can't afford, so I don't want or need a credit card.)

We had 3 offers by phone today, and one in the mail.

Best one I've come up with so far, is just ask them to hold on for a bit, then lay the phone on the counter and walk away from it for an hour or so. ;)

Becky

Some may say "That's not nice" but it's a rare phone call that holds any interest to me.

In fact, a local window company has come to our door 4 TIMES in Dec and even though you say "No thanks" They keep on and on until you CLOSE THE DOOR!!

Very similar to phone tactics...So, when I see them at the door, I now will not open it and soon, they go away...