How Credit Cards are Crushing Americans
Well, I found this through the Economic Crisis Blog and boy if you wanna talk about the truth? Check out the graphic.
I’d really like your opinion on this whole gambit. My girlfriend has already had to deal with a couple of the sneaky things the credit card companies have been dealing out to consumers. (lowering credit limits without notice, changing interest rates without notice…etc.)
Personally, if you don’t have the money why buy it. That’s what got our country in trouble in the first place, “buy now pay later”. That mentality has to stop and saving must begin right away. No savings, no credit to lend on. hate to say it but we have to have debt to get credit again. Savings are definitely needed for that to occur. You can watch a full video on how our money system is designed to work and understand why we need to start saving if we are to stave off the worst depression ever. (www.chrismortensen.com)
Now if you have good credit you may think you’re exempt from the melee the credit card companies are throwing at everyone, but only the Uber rich aren’t really feeling it, and they pretty much have enough money to get what they want anyway. (Oh by the way I have it from a friend that is a CFP for some “money people” that even they are starting to cut back on the buy now pay later mentality)
Anyway, check out the graphic and tell me what you think. I’d like to know if you’ve been hit with anything like it says the credit card companies are doing.
Spend on Life has a grab bag that touches on one more thing about how fast certain credit card companies complied with the CARD Act and didn’t try to keep screwing over consumers…they just found other ways to do it…
We're getting crushed..time to stop em!
We are screwed left and right and we dont know about it