Sunday, March 30, 2008

Rat Bastard Shylocks

Plastic Card Tricks




If there's anything worse than Democrat lawmakers, it's institutions that, through wretched behavior, open the door to  meddling by those carbuncles, with their  "War on Wealth." mindset.   American banks have done that.  Once again. 

“  The stories about deceptive practices are harrowing. At a recent news briefing in Washington, a Chicago man told about what happened when he charged a $12,000 home repair bill in 2000 on a card with an introductory interest rate of 4.25 percent. Despite his steady, on-time payments, the rate is now nearly 25 percent. And despite paying at least $15,360, he said that he had only paid off about $800 of his original debt.

The Federal Reserve is focused mainly on making it easier for consumers to understand credit card contracts — some go as high as 30 pages of nearly unreadable fine print. Clarity, however, is not enough. One bank contract stated baldly: “We reserve the right to change the terms at any time for any reason.” [Plastic Card Tricks]
 ”

3/30/2008 09:29:00 AM 5 Comments

"If the number of Islamic terror attacks continues at the current rate, candlelight vigils will soon be the number-one cause of global warming. "
Argus Hamilton


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5 comments:

AnnoyedOne said...

Using plastic is simple. Treat it as cash and pay it all off when the bill is due.

I've been using credit cards since I was a young whipper snapper and have probably paid about $10 in interest in all that time.

3/30/08, 9:37 AM
Rodger the Real King of France said...

But then, you're not exactly out of the cookie cutter mold. My problem is that I find myself having to check up on too many people too often. I don't use credit cards at all (only debit), but I can't tell you how many times phone, cable, and internet providers have changed service fees on me. And banks? I've been with 5 in recent years, and all engage in disreputable, if not illegal, business practices. And you can't legally shoot any of them.

3/30/08, 9:57 AM
Anonymous said...

Read that fine print again -- I think they can legally shoot us.

e~C

3/30/08, 12:16 PM
The Old Man said...

Credit Unions, consarn it. Best deal going - and almost anybody can find one they're eligible for. Best rates, good credit card rules (but like you, Rog, I pay it monthly) and great 'net access. Love me some CFCU..

3/30/08, 12:37 PM
OregonGuy said...

http://tinyurl.com/3xjxlk

On December 2nd, we got hit. Hard.

Revenue for December was lost. And repair work had to go ahead.

In January I reviewed my credit card bills and noticed that one card had moved from their introductory rate to a rate of 19.6%.

Having carried no balances before the storm, I simply failed to notice the rate change. No balance, no problem.

I called the credit card company and spoke to their customer service rep. I asked whether I should pay off the card and cancel it, or would they prefer to lower the rate. 8.6 is still "high", but for a short-term loan acceptable.

Point? Call them. Ask. If you don't ask, you assume the answer will be "no".

3/30/08, 3:15 PM

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