Sunday, July 27, 2008

Credit Card Companies worse than Insurance Companies

My ex-husband established his career in the collections/recovery world. Before he started his consulting business, he was an executive at Citigroup. 

Needless to say, he learned the inner workings of credit issuing companies. They love simply make up their own rules, which are buried in the unread fine print. The can change due dates, interest rates, fees whenever they want to without notification. This my friends, are where they make their money. 

They hate the folks who pay their bills on time, this why they gerry-rigged the system.

Talk about a fourth arm of government.

We live and die by our credit scores. "What's your sign?" has been replaced by 'What's your score?" 
Money management/values should be discussed in any serious relationship. People are more willing to reveal their sexual escapades before disclosing their attitude toward money.

The next scam of the week are the free credit reports, if you sign up with a company that monitors your scores for $30 per month. Most people don't know, that each reporting agency will give you a copy of your report for free once a year.

You can survive and even thrive without a credit card.  Yes, you can rent a car.

Contact the Federal Reserve by August 4th.
consumer information
Proposed Rules for Credit Cards and Overdraft Services

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