Despite credit card reforms – what has changed? Only those companies are becoming more deceitful in attempts to make a profit at consumer expense. Do they think we’re that stupid? Apparently so and apparently we are, because we still keeping buying into the American dream corporate America is selling us.
My favorite and most endearing target is Capital One most because I personally am stupid enough to carry two Capital One credit cards. But the joke is on Capital One – I don’t use them. For not using my credit card, Capital One feels obliged to charge me $5.00 a month (service fee). So why don’t I cancel my card. Well because in the silly made by corporation world, it is better for me to pay Capital One $5.00 a month for nothing, then to cancel the card. Not holding a balance looks good on my credit report.
So in attempts to win back my favor, Capital One offered me a free transfer with a 5.99% interest rate for 6 months and then after six months, but interest rates “simply” rolls back out to 22.98% interest. I love it – Capital One will simply continue to screw me. So, here it is – I have six months to pay off another debt to Capital One or else they are sticking me back with a loan-shark interest rate. Sorry Capital One, no deal.
I understand, in economic hardship rich corporations are suffering and cannot offer huge bonuses to its CEO’s. But when you think, that some of those bonuses could buy food for a struggling American family for years – it hardly seems fair and I hardly care about the woes of corporate America.