Saturday, March 01, 2008

Pay Paul-The-Credit-Card-Extortionist

My two cents worth:

Over the years I have paid out tens of thousands of hard earned cash in interest fees. Credit cards have been my nemeses throughout life while raising 3 children. Now my grown kids are hitting the same struggle.

Sometimes, when incomes are not enough to live on, most turn to credit because it's constantly thrown in their face.

If the credit card companies were regulated and fair, this could help low income families, now and then, but instead these companies are allowed to bleed them dry.

There was a time before the Republican stranglehold on our country when you could deduct these fees from your income on yearly tax statements. But the Republican Congress arranged to have that slight financial aid taken away.

My daughter struggled to go to college to become a teacher. She needed to intern for 3 months without pay and during that time she ran up several credit cards plus a personal loan to take the place of her salary. She is raising 2 children and had little choice to do anything else.

She made a payment to a credit card a day before the next 30 day cycle began and the card company did not count that as a payment made in the new cycle. The interest fees shot up to 28% because of this so called error. How can that be legal, yet it is. Now when she makes a payment, most of it goes to interest.

Those of us, at the bottom rungs of the income ladder need protecting from these vultures but do we get any? Not on your life! There is just too much money to be made off the backs of the low to middle income worker and that is thoroughly loathsome and WRONG!

Just an added note, I came to my daughter's aid on this bloodsucking credit card of hers and paid it off with one of my cards that gave a promotional
period of 10 months with no finance fees. It's just another robbing of Peter to Pay Paul-The-Credit-Card-Extortionist.


Kiss credit card rip-offs goodbye!

Bank of America is hiking rates for some good customers--to as high as 28%! Because they can.

We just hand-delivered 120,000 Valentines Day cards to Congress from people like you--telling them to help us "kiss credit card rip-offs goodbye"! Now we need to follow that up with strong support for legislation just filed by two powerful lawmakers.

We have huge momentum, but this bill needs cosponsors. Let's get another 100,000 messages to lawmakers in the next two weeks and gather the cosponsors we need to move the bill to the House floor.

Just send the message below or edit it (click in the box and type your own words) to tell your lawmaker what you want in your own words. Click the link, and our system will automatically address the letter correctly by adding your information and send it on to your lawmaker.

CAROLYNCONNETION - I've got a mind and I'm going to use it!
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