Thursday, February 04, 2010


Two of our cc companies increased our interest rate a while back. They sent letters explaining they had to do this due to the credit crunch. Right, money is tight, so bleed people for for more. Makes sense does it not?

Quietly though, these immoral people tripled our rates over time. One card we cleared immediately and stopped using. The other we have not been able to because of this tax situation still being unresolved. I have been getting more and more incensed at this company for hiking their rates almost monthly it seems and this month the amount of interest they charged was more than it costs to eat for the month, and we eat well.

I spoke with our accountant and told her and she recommend we clear the debt because she still thinks the tax liability is covered and if not, then we can negotiate.

With great delight i have paid off that card today. Oh it feels good to nobble those b*stards. How STUPID do they think we are? How STUPID are they? Had they not behaved in such a reprehensible way, they’d still be earning some money form us. However greed has ensured they earn NONE from us.

They do this because unfortunately people less well off will have no choice but continue to pay thru the nose in interest because they will not have the funds to pay the card off. The CC companies know this and so they hike the rates, trapping people.

Companies are not dead non entities. They are comprised of PEOPLE. It was a PERSON who made these decisions. It is a PERSON who is responsible and will reap the consequences.

When will people realise that we reap the results of all out actions and beliefs?

The Presidents and PM’s may not see the dead children that result form their wars. The soldiers may not see the children they kill. That doesn’t mean they are not responsible. EVERYONE knows one cannot go to war without killing children. Therefore it is acceptable to those who go to war and who support war that children die in their cause. If they understood what personal responsibility means, they might think otherwise. They would at least know that confessing all to a man in a frock once a week, saying a few prayers by rote,  absolves them, or us, of nothing.

If our leaders truly were believers there’d be no war. On either side. (A misnomer since we are all on the same side.)

Belief is everything and we see the results of it all around us. In our personal lives and the lives of others and the world in general. Yet we still deny that our beliefs have any importance. They are ALL that is important. It is our beliefs about ourselves, about others, and about LIFE that cause our suffering or enjoyment. Our views and ideas are the crux of it all.

It follows that if we truly desire change, we must change our ideas. The first idea we must change is the idea that it is others who need to change. The only person who needs to change is the one you see when you look in a mirror. That is where it all begins and ends.

(and those faceless cc company people will reap what they have sown, no matter how they think it is ‘just business’.)


CheckerBeads said...

I agree. I recently cancelled THREE of my store cards (that I pay off each month) because they were starting to charge me TO GET MY BILL.
This just doesn't seem legal to me.


Iris said...

Oh, I can just sympathize with you over the credit cards. We've had our share of problems with them, too. The most recent was they said they were going to charge a monthly fee because we pay the balance off each month. I called and was told they weren't making any money. I reminded them they DO get the fee they charge the merchants from whom we buy. I told them they could either drop the fee or close the account. We still have a card.

I agree -- It really makes no sense to INCREASE the amount people have to pay when they're having problems already. I suppose they'll wonder why the number of defaults goes up.

Anonymous said...

Hi Colin, I take heart from your post. I'm in a similar position wih my cc company who "quietly" increased the interest on my card (after Abbey sold it to them) from 15 to 35% over the past few years! I made the mistake of taking them up on their oh so generous 0% offer which was abruptly cut off at the end of 2008 when the credit crunch first hit. I took my complaint about the stealth rate rises to the ombudsman, but there is nothing they can do, this is a perfectly legal practice unfortunately. Fortunately, I'm in a position to pay back a reasonable sum each month and a lump sum every few months, so I hope to clear the debt within a year or so, but it makes me so cross - with myself for not being financially savvy enough (although I'm learning fast!) but with the cc company most of all who are a bunch of jackals - MBNA. Needless to say, I will be closing my account once the debt is paid off and never using a cc again. I will also be educating my children about all the tricks theses people use on the unwitting.

Glad your financial troubles are beginning to resolve themselves...