Unethical Credit Card Practices
Unethical Credit Card Practices
The ethics of credit card companies has to be in question. They are one of the few businesses that can change the rules on you and there is currently nothing you can do about. The credit industry is not your friend. They want to get you to borrow money from them and to keep you in debt for as long as possible. This way they have a constant flow of revenue through the interest payments, late charge fees and over the limit fees. They have many practices and charges that most people don’t know exist and are helpless to combat. The credit card industry has gone unchecked for way too long. The credit card industry lures you in with deals and rates that appear to be great bargains but are often misleading. Consumers should beware and always read all of the fine print and terms and conditions. If you proceed carefully though there are times that you can use the credit card companies to your advantage, but be careful it is easy to slip into the habit of saying I’ll pay it off next month and carrying the debt way longer than expected. Below is an actual advertisement that shows you how the credit card companies actually lure you in.”
(Visa)
• 0% Intro APR for Up To 12 Months on Purchases and Balance Transfers
• No Annual Fee
• FREE Online Account Access
• Benefit Rating: 0% Intro APR on Purchases, Balance Transfers for 12 months
10.99% Regular Variable APR for Purchases
20.99% Regular Variable APR for Cash Advances Bonus on First Purchase: n/a
20 days Grace Period
(* 0% Intro APR for Up To 12 Months on Purchases and Balance Transfers)
Important Notes: Estimate Reward Earnings
The APR for purchases varies according to the applicant 's credit history and will be 5.99%, 9.99% or 14.99% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure.” (Credit Card Flyers.com)
How good of an offer is this? 0% for up to 12 months and then it will be
The ethics of credit card companies has to be in question. They are one of the few businesses that can change the rules on you and there is currently nothing you can do about. The credit industry is not your friend. They want to get you to borrow money from them and to keep you in debt for as long as possible. This way they have a constant flow of revenue through the interest payments, late charge fees and over the limit fees. They have many practices and charges that most people don’t know exist and are helpless to combat. The credit card industry has gone unchecked for way too long. The credit card industry lures you in with deals and rates that appear to be great bargains but are often misleading. Consumers should beware and always read all of the fine print and terms and conditions. If you proceed carefully though there are times that you can use the credit card companies to your advantage, but be careful it is easy to slip into the habit of saying I’ll pay it off next month and carrying the debt way longer than expected. Below is an actual advertisement that shows you how the credit card companies actually lure you in.”
(Visa)
• 0% Intro APR for Up To 12 Months on Purchases and Balance Transfers
• No Annual Fee
• FREE Online Account Access
• Benefit Rating: 0% Intro APR on Purchases, Balance Transfers for 12 months
10.99% Regular Variable APR for Purchases
20.99% Regular Variable APR for Cash Advances Bonus on First Purchase: n/a
20 days Grace Period
(* 0% Intro APR for Up To 12 Months on Purchases and Balance Transfers)
Important Notes: Estimate Reward Earnings
The APR for purchases varies according to the applicant 's credit history and will be 5.99%, 9.99% or 14.99% + Prime Rate.
See website for complete terms and conditions of card usage and application disclosure.” (Credit Card Flyers.com)
How good of an offer is this? 0% for up to 12 months and then it will be
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