Ho, ho, have a good laugh! Posted
by frayam at 12/13/05 11:08 AM
Before you whip out the plastic for holiday shopping, consider this. . . Working to pay off credit card debt is frustrating. It doesn’t mean you need to freeze your credit card in a glass of water, and make ornaments out of decoupage for everyone on your Christmas list.
Here's a link to an animation about how credit card companies suck our wallets dry -- with something we can do about it. Go to www.creditcardreform.org.
After you watch it, you can take action to stop abusive credit card practices and empower consumers to manage their finances and reduce debt burdens. Please show your support for S. 499 (the "Credit Card Accountability, Responsibility, and Disclosure Act") and H.R. 3492 (the "Consumer Credit Card Protection Act"). To learn more about these bills, click here.
While the nation's spending is at its holiday peak, you can help us build the support these bills need to move in 2006.
comments
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Posted by Heather at 12/13/05 11:40 AM
These abusive credit card practices can really be avoided if the younger generation were more educated on the subject. I know a few of my fellow college students are asking their parents to pay off their credit card debt as a Christmas present. This idea scares me because not only are these young people using credit cards with high interest rates to pay for books, food and gas, but many also have to take care of their student loans after they graduate. I'm afraid that we are cultivating a generation that will be in debt long after becoming settled in a career and starting a family.
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Posted by citizenactivist at 12/20/05 01:03 PM
There was a time when companies would have been ashamed to charge 30% interest rates. All the major religions prohibit usury rates. Until recently, only a mafia loan shark would charge this much.
These companies take our money and use hundreds of millions of it to lobby congress to let them treat us like dirt.
If Congress doesn't start to regulate these banking and finance companies, then Congressmembers will start to lose their jobs, perhaps as early as 2006. These companies are taking advantage of the middle class and we're not stupid. We can clearly see what's happening when we review our bills every month - we are getting fleeced by corporate America and Congress is on the wrong side.
