Credit Card Companies Plan On Punishing Cutomers Who Don't Carry Balances
- Thread starter ByLoSellHi
- Start date
Before the days of easy credit when you actually had to build a track record before you could get a major credit card you started out by getting a store card.
Sears was the most common.
Or, are you one of the youngsters who didn't get a card with training wheels and ended up with a borked credit score because of hosing a major CC account?
So, what was it 'ndexer. No ends up this pissy and misguided about CC without having a horror story behind them.
I never had a store card. Started with American Express green in the early 1980's, then platinum. Got tired of paying $200 a year for no perceived benefit. Switched to no fee major bank cards.
What turned me off about the credit card industry was the constant mergers, changing terms, sending you convenience checks (I called and told them not to send them any more and yet they kept sending them. I was worried they would be stolen). They would offer teaser loans that smacked of a casino trying to lure in gamblers. The card companies seemed to become predatory after 2000.
The rebate cards seemed too good to be true. Obviously they were losing money on these cards and being forced to make up for it by squeezing the less fortunate and trying to lure prime payers into debt.
The point of my original response in this thread was a rant against the illogic of Buylow insinuating that by not getting free money he was somehow being victimized by the sub-prime people aka. minorities judging by the pictures he posted. When in fact it is the people who pay interest on balances and pay fees who pay for his rebate card.
There is nothing wrong with having a rebate card, just don't act as though the free money is an entitlement. It seems to me that rebate cards are a way for the cc companies to build a constituency of people who support them by giving them free money while they act predatory toward everyone else.
A credit card should just be a tool and it should pay for itself. I also don't like their attempts to outlaw cash. The government and business do not need to know everything that we do and I dislike the fact that cash payers are forced to pay higher prices as retailers build credit card fees into their price. I view financial companies as the enablers of the police state.
What turned me off about the credit card industry was the constant mergers, changing terms, sending you convenience checks (I called and told them not to send them any more and yet they kept sending them. I was worried they would be stolen). They would offer teaser loans that smacked of a casino trying to lure in gamblers. The card companies seemed to become predatory after 2000.
The rebate cards seemed too good to be true. Obviously they were losing money on these cards and being forced to make up for it by squeezing the less fortunate and trying to lure prime payers into debt.
The point of my original response in this thread was a rant against the illogic of Buylow insinuating that by not getting free money he was somehow being victimized by the sub-prime people aka. minorities judging by the pictures he posted. When in fact it is the people who pay interest on balances and pay fees who pay for his rebate card.
There is nothing wrong with having a rebate card, just don't act as though the free money is an entitlement. It seems to me that rebate cards are a way for the cc companies to build a constituency of people who support them by giving them free money while they act predatory toward everyone else.
A credit card should just be a tool and it should pay for itself. I also don't like their attempts to outlaw cash. The government and business do not need to know everything that we do and I dislike the fact that cash payers are forced to pay higher prices as retailers build credit card fees into their price. I view financial companies as the enablers of the police state.
And don't forget the huge surplus that we had during Reagan, Bush 1 and 2's presidency.
By your logic, it would be OK to beat your wife because your neighbor does.