Tuesday, May 10, 2005

The Real Credit Card Thieves

I've always considered myself a conservative. Not a Democrat, not a Republican, not a Libertarian, not a --- fill in the blank with whatever political organization you care to, but still a conservative. What I mean by that is I get really worried when people start proposing change for the sake of change, and when the government starts mucking about too much in my business.

I also don't buy this line of "you can't legislate morals." Of course you can. We already do. With little exception, all laws are about legislating morals. If murder isn't a moral issue I don't know what is.

Having said that, you can probably guess that most Democrats and so-called "liberals" and I don't get along very well. We don't see eye to eye on a lot of issues. But that doesn't mean I buy everything the Republicans (and other so-called "conservatives") say without questioning it. The Republicans make me just as angry as the Democrats, just not as often.

Knowing this, it should also be no surprise that much of what is written over at the newly published Huffington Post site just curdles my small intestine. I want to know what both sides are saying, though, so I force myself through much of this unsubstantiated crap.

But, once in a while I find something that really hits a chord with me.

I don't know much about Elizabeth Warren and she probably doesn't care one whit. She wrote an article that hit me to the core as being absolutely dead on right, though. She's talking about the dastardly way the credit card companies are ripping us off. She points out:

Let's say you buy a new washer and dryer. The sticker says $2200, and you pay $2200. If the store called you up two months later and said, "We changed our minds. We want $4,000 for those babies," you'd tell them to jump in the lake. But let's say you put that washer and dryer on a credit card that charges 6.9% interest, and you expect to pay it off over the next 36 months. Next month, when the credit card company changes the interest rate to 29.9% interest (which is just like an $1800 price hike ), you can't do anything about it.

Head on over and read the rest of the article. You'll find it interesting.

Credit card companies are committing highway robbery. If you haven't figured it out yet, the fees they charge you are designed to keep you in debt forever if you just pay the "minimum amount due." Please do yourself a favor. Pay off your credit cards as soon as you can. If at all possible, never use them again. Freedom from debt is just that - Freedom.

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