Saturday, November 12, 2005

Credit Card Companies Need To Get F***ed!

The New Bankruptcy Code went into effect October 17, 2005. The new law was the product of intense lobbying in Congress by credit card companie and the banking industry. As many against the change in the law argued, the new law would hurt only the middle class who often struggle to make ends meet, begin using credit cards for needed purchases, then, before they realize it, cannot continue to make the payments. (I am one who personally knows the negative affects of misusing credit). Many times, after the finance charges, late fees, fees for going above the approved credit limit, or just fees to make money, the minimum payment becomes a nightmare, and it is next to impossible to get out of the debt. For many, bankruptcy is the only way out of the situation to make a fresh start. But now the new law will make that next to impossible.
And now I have noticed a commercial recently from Citibank. It is promoting Citi Simplicity. With Citi Simplicity, consumers are informed that they will not have to pay any late fees as long as they "use your card once each billing period for a purchase of cash advance..." In other words, if you don't want to pay a late fee, just charge more. So, the credit card company is advocating misuse of the credit card. Keep on charging to avoid late fees. But what about finance charges? NOPE! They of course keep piling up! So Citibank is encouraging consumers to keep on charging, even if they cannot afford to pay it! Keep on charging to avoid the late fees, but keep on paying the Citibank more in finance charges.
That is why I hate credit card companies! That is why I never once felt bad for credit card companies when someone declared bankruptcy and said, "F*** you, credit card company!" Credit Card companies are nothing more than legalized loan sharks. When will they beg Congress to allow their henchmen to break the kneecaps of those who can't pay?


PaxRomano said...

Amen, brother!

The credit card companies want to keep the rank in file, in debt...bastards ought to be drawn and quartered!

Karl said...

They piss me off! Could you tell?!

Zelda Parker said...

You go Karl!

Jessica said...

Those companies are crooks!

Karl, please add my new link to your blogroll when you have time. I added yours.



Joe Tornatore said...

i saw that same commercial and wondered about the finance charges.
credit cards are a necessary evil but by their composition they are still evil.

Karl said...

I sure will Jessica. Thanks.

Medbh said...

I don't think they should be F**ed, Karl. Rather, they should be like that woman in the xxx movie from the 70's.

You know the one--where the actress just keeps trying and trying to climax, but can't--was it called the Devil and Ms. Jones??

The non-climax, continual frustration of the actress was her penalty for committing suicide.

Yeah, let the credit card companies keep trying, yet be eternally frustrated sexually...sounds good to me and serves them right!!