http://www.careonecredit.com/Knowled...ard_traps.aspx
Quote:
Credit cards are the most lucrative segment of banking, and not just because of the interest charges. It's a case of the hook - the low interest rates, the line - the high interest rates, and the sinker - the fees.
Everyone in the industry wants to sell you a credit card. Don't be fooled by the offers. Below we present a dirty dozen traps and tricks used by credit card peddlers to fill their pockets and empty yours.
|
It's all a big conspiracy! Oh noes!
Er. OK. I still feel bad about being an asshole--I doubt it will last for long, so I'll post this now. Instead of just ripping into how stupid something is, I'll try to provide a constructive suggestion.
Instead of lobbying to put strict regulations on credit card companies, how about you spend that money on educating people about personal finance? (Must resist snide comments about personal responsibility. Must resist snide comments about personal responsibility.)
If you want to punish credit companies for
anything punish them for giving cards to illegal aliens. Don't punish them for giving cards to people who think it's their right to have a revolving credit loan that doesn't penalize them for not paying. Pro tip: If you pay your balance off in full and on time
you don't get charged interest or fees! I mean, unless your credit is so horrible that you need to pay an annual fee.
Dammit, it's too hot down here in trying-not-to-be-smug land. And I'm failing at it anyway. I'm getting back up on my pedestal where the air is thinner.
