At a time when I thought I was drowning financially, credit cards kept me afloat. When my father was sick, I took a lot of unpaid time off from work.
This lasted a few years until I lost him. I don't regret a single minute that I spent with him, those memories are precious. I used my cards to pay
for food, gas for work, property taxes and to replace my roof. I always convinced myself that I would get out from under the weight of the debt but as
my card balances increased, so did my interest payments and invariably, so did my debt. I almost lost everything. My everything isn't much, it's a
tiny little bungalow, not too much room but enough. It's home.
Lasy year I landed a sweet higher paying job and pounded away at my highest interest cards and finally paid off 3 of them in December. The only
remaining one was a very low interest card that I've been pounding away at since December. I opened my recent statement and saw that they've jacked up
my interest rate. I hit the bloody roof!!!
I called the number on the back of the card and asked wtf was going on and it seems that I've been late with 4 payments in the past year. Yes, I have
been. I'm a single mom with two jobs, trying to keep a house, take care of two daughters and am putting one of them through University. I didn't
realize that I was late or missed payments but it's possible and when I looked over my statements, they were right. I explained the situation to them,
asked them to review my payment history before and after I started having trouble but it didn't do any good, they refused to lower the "performance
based interest" rate. I ranted at 4 different people, called 2 different numbers but they wouldn't budge. I asked them that if someone was obviously
having financial issues, was their solution to make things more difficult by increasing the interest rate? How does that make sense? How does that
help? I pointed out to them that last year, I simply could have walked away from all my debts but I'm not that person so I'm working extra hard to pay
them off and they still wouldn't give me a break. They were heartless in their responses. I threatened to walk away from this debt. I told them that I
give up, that I'm tired of getting screwed over and I'm done. Still, nothing. They said they can't adjust the rate over the phone. Now, if I wanted to
apply for a card, or increase my limit, they can do that over the phone. Anything that works in their favour, we can do over the phone or on line.
Anything that works in my favour and they can't help me.
After a sleepless night, I decided that I cant walk away from this one, but I'll be damned if I'm going to allow them to collect extra money from me
with those high interest rates so once again, I am in power saving mode, living extremely, extremely frugally and I'm paying that sucker off as fast
as I can. I am doing it for spite.
I watched a documentary on the monetary banking system not too long ago and it made me angry. I am done being a slave to the banks. No more credit
cards, no more dealing with big banks. No more supporting big box companies, I will support smaller local businesses instead. I am refusing to support
a system that is screws people over so that the richest can get richer. Case in point:
nk CEO gets pay hike during staff lay offs
TD bank was busy laying off staff and increading their fees while their CEO gets a 10% pay hike. At a time of bank staff lay offs, Canadian banks
posted a $35 Billion dollar PROFIT in 2015. Hands up anyone who saw their banking fees decrease? No one.....
What would happen if we all cut up our cards? If we all started to live within our means, stopped upgrading our cell phones every time a new one came
out, stopped buying 52" flat screens, stopped trading up our cars, buying houses with more space than we'll ever need, shopped at locally owned
stores, cancelled our 1000 channel HD cable packages and started spending more family time together or read a book instead? What if we all decided
that if we can't afford to pay cash, we shouldn't buy it? Would we be worse off? No. I really think we'd be happier. They only people who would
suffer are those who get rich off our gluttony and debt. That is the only way I can think of to get them back, we stop playing their game. I am
responsible for my debts, I racked them up, that is my fault. I blame banks and credit card companies for making it harder to pay them back. I will
never make that mistake again..
Thanks for letting me rant. Seems like I didn't get EVERYTHING off my chest when I blasted the card company yesterday......
edit on 27-2-2016 by meemaw because: Linkmfix