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Banks have found a way to stick us AGAIN - This time it's PERSONAL!!

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posted on Feb, 14 2009 @ 04:00 AM
They've Gone Through all Their Money, Giving out Bonuses, Corp Jets, Ect.

Now they're Gouging and Hording Money to cover all the Worthless Paper They're Holding, after Blowing it.

I'd Call Them Loan Sharks, Government Calls Them Financial Institutions.
Government Calls Wall St a Investment District, I'd Call it East Coast Vegas.

I've Never Had a Credit Card, Never Will. I Pay Cash. I Have a Debit Card, Can They Lo-Jak Me on Something Like That?

[edit on 2/14/2009 by Hx3_1963]

posted on Feb, 14 2009 @ 04:30 AM
I am debt free.

I never pay my bills before they are past due. Go ahead and report, I don't care.

I have 0 credit cards. Instead, I use a prepaid card where you can go to a check cashing place and put money on it for times when I need a card as such. Don't have to worry about people stealing a bunch of my cash, because it only ever has what I put on there.

I refuse to have a bank account at all. They keep asking when I cash my paychecks, and I keep saying no. I have a single savings account with a credit union where you gotta get in from a family member or job etc that I've had since I was young.

Better off without it, and your life will be much much less stressful.

You can blame the credit card companies, you can blame however you want. I agree that usery is slavery and being in debt means you are a slave. Which is why I don't do it. But you are the one to blame, it is your own fault. Smarten up and quit getting credit, even at 7% it was a scam.

posted on Feb, 14 2009 @ 04:40 AM
reply to post by badmedia

Same Deal Here. I Go Through a Credit Union...Free Checks and Checking...Free ATM's...Master Card Debit Card Linked to My Checking Account, No Fees. Nice Deal.

Something to Consider...

posted on Feb, 14 2009 @ 04:44 AM
reply to post by Iamonlyhuman

Moral no, legal yes. Sadly it's in the contract. Credit card providers are little more than legalised loan sharks. There is a line they can't cross, but they will hike it right up to that line quite happily.

This is a lesson to all. If you want to use a credit card then go for it, but pay it off in full each month. They refer to people who do this as "deadbeats" lovely huh. I do this and i get cashback so i'm basically earning money from them. Problem is i've been kicked off of one credit card already for not being a "good customer" and by that they mean a customer that doesn't earn them money.

Credit cards should just be abolished, they are nothing more than debt machines. The only reason you should have one is for secure online purchases.

Don't ever spend beyond your income. Simple and easy advice.

posted on Feb, 14 2009 @ 04:57 AM
Hey silly,it is the monetary system which you have no control over which is raking you over the coals,it is your entry into unconscionable contracts and agreemment to do business with criminals.
The Corruption of Your name.
And the biggest thing is your inability to realise what living within your means is,if you pay your bills on time,why don't you just use cash?...or maybe a debit card,like having the money you need to buy what you want when you go buy it?.that would solve your prob now,wouldn't it?.
America is a ship of fools,the ship is sinking because we depend on others to bail the water out of it,we outsource everything....,and they cannot be depended upon to do anything but charge you more,and more and more for nothing.
I could go much deeper into explaining what has happened,but finding that out for yourself would imply you actually wanted to know the truth!.
So quit crying,you do this to yourselves.

[edit on 14-2-2009 by chiponbothshoulders]

posted on Feb, 14 2009 @ 05:09 AM

Originally posted by chiponbothshoulders
And the biggest thing is your inability to realise what living within your means is,if you pay your bills on time,why don't you just use cash?...or maybe a debit card,like having the money you need to buy what you want when you go buy it?.that would solve your prob now,wouldn't it?.

There are other reasons to have a credit card . I still have one for online purchases. Credit cards have a fraud security guarantee with them, whereas a debit card doesn't. If you get scammed on your credit card you can probably get the money back, if you get scammed on your debit card you won't get anything back.

posted on Feb, 14 2009 @ 05:25 AM

Originally posted by Iamonlyhuman
I've just come from my credit card payment website and I am pissed off ROYALLY! My credit card bank is Bank of America.

First, a little background. I was reading this article written by Clark Howard who I've listened to for years and decided to go check out my APR on my card. I haven't checked it in a while because I have a very good credit rating and pay all my bills on time. I had just assumed everything was alright.

Well, bite my A$$, I've had a 6.99% APR for at least four years now and guess what it is now... you ready?.... 28.99%!!!!!!!!!!!!!!!! I felt sick and got dizzy.. seriously...

This has GOT to be ILLEGAL! If not illegal it DEFINATELY is IMMORAL! Not only do they get my tax dollars and possibly my pension money (as stated in another thread) but they get my bill money too!

EDIT to add - I don't recall BoA EVER contacting me to alert me to the change... I pay attention to those things and cannot remember getting anything from them... they just did it... sneaky like...

[edit on 13/2/2009 by Iamonlyhuman]

I thought that there was a law that considered a rate over 25-26 % was loan sharking I live in NY (unfortunately) but I think the state sets the limit.

posted on Feb, 14 2009 @ 05:29 AM
Ahh the beautiful sound of scissors meeting plastic!


posted on Feb, 14 2009 @ 05:36 AM

Originally posted by silo13
Ahh the beautiful sound of scissors meeting plastic!


Well i'm expecting to get kicked off my card pretty soon. I never have paid them any interest as i always pay it off in full each month. I also get cashback so they're basically paying me
I got kicked off my last card after about 8 months of doing this.

Ahh if everyone did this then these cards would disappear overnight. After all they won't support a product they lose money on.

posted on Feb, 14 2009 @ 05:37 AM
cut up ALL ...............ALL your credit cards~!

Like the songs says, "If you don't have it, you don't need it now"

we did this 3.5 years ago and we're surviving on the green stuff .. which in my opinion is becoming illegal....CASH~!

Why would you want to borrow money when you can't pay it back? "yes I can~!" you say...

and there's the hook~!!!! 'They are LOAN SHARKS'.. don't believe me... ?

A loan shark is a person or body that offers unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence.

In much of history, usury laws made loan sharks commonplace. Many moneylenders skirted between legal and extra-legal activity. In the western world in recent years, loan sharks have been a feature of the criminal underworld, but otherwise rare. Loan sharks are common in the Italian Cosa Nostra and Triads in China.

There are many registered and legal lenders that lend to people who cannot get loans from the most mainstream lenders such as large banks. They often operate in cash, whereas mainstream lenders increasingly operate only electronically, which means that they will not deal with people who do not have a bank account. Terms such as subprime lending and "non-standard consumer credit" are used for this type of lender. Payday loans are one example of this type of consumer finance. The availability of these products has made true loan sharks rarer, though some legal lenders have been accused of behaving in an exploitative manner.

Payday loan operations have also come under fire for charging inflated "service charges" for the service of cashing a "payday advance" — effectively a short-term (no more than one or two weeks) loan for which charges may run 3-5% of the principal amount. By claiming to be charging for the 'service' of cashing a paycheck, instead of merely charging interest for a short-term loan, laws which strictly regulate moneylending costs can be effectively bypassed.

[edit on 14-2-2009 by Komodo]

[edit on 14-2-2009 by Komodo]

posted on Feb, 14 2009 @ 06:15 AM
reply to post by Iamonlyhuman

have you talked to anyone? Is this legal? I mean common they didn't even warn you, they can't make changes like that and not warn you.

posted on Feb, 14 2009 @ 06:16 AM
It's not just your ability to gain credit that your credit rating affects, it's also your ability to get a job. I have been working as a career consultant for a few years now and I am seeing more and more employers carrying out credit checks on potential employees. The banks have been doing this for years of course, using the excuse that as you will be working with a lot of money having a bad credit rating could make you a risk (i.e you may turn to criminal activities such as theft or fraud). Over the last year however I am seeing more and more call centres and utilities companies carrying out credit checks. I recently had one girl start at a gas company and work there for a few weeks before she was approached by her manager and 2 security people and told that her credit rating was negative and therefore they were terminating her employment, she was then escorted from the premises. When I called for an explanation they stated that as she was working in the call centre and had access to personal information and billing accounts she was a risk regarding identity theft.
In my opinion this is absolute BS but it's happening and we should all be aware of it

posted on Feb, 14 2009 @ 06:18 AM
And yet for some people, loan sharking is illegal and can net you some time in jail. Not so for the banking establishment. I guess they don't want the competition.

posted on Feb, 14 2009 @ 06:19 AM
reply to post by Iamonlyhuman

WE THE PEOPLE have found a way to stick banks AGAIN - This time it's PERSONAL

coz we've like 5 million people printing money right from their home printers.

Let the money party begin.

The governments and bankers are big time gangsters and fraudsters.

Fight them or join them.

Everybody print money!


posted on Feb, 14 2009 @ 06:27 AM
reply to post by ctjctjctj

If they're using the latest photoshop that won't work because it has code built in so that you cannot print banknotes. Not that i want to i'm just pointing out that they stopped it in the latest versions.

posted on Feb, 14 2009 @ 06:49 AM
reply to post by Iamonlyhuman

If you have good credit call them up and tell them you are going to cancel and transfer your balance to another card if they do not put your interest back to where it was. If you have been a good customer, and by the amount you were being charged interest, they will not want to lose you. They definately will not want to lose a paying customer. They actually were questioned on this by the senate banking commitee last week. I think BOA said they did this to just either 1% or 10% of their customers and said they sent out an opt out notice to their customers. The committee was furious about this practice and I am sure they will try to do something about it, in the meantime, call them or transfer your balance to another card. Click on my username. I have a link on my user info page that has good balance transfer cards.

posted on Feb, 14 2009 @ 07:01 AM
reply to post by Iamonlyhuman

Got o and forget about your credit cards forever!!!!

posted on Feb, 14 2009 @ 07:11 AM
This is why I stopped paying my cards off. I had great credit and they kept manipualting their system so I would have all types of fees. I would be lucky to pay the monthly fees off and wind up with a higher balance.

They will continue to do so because all you people don't take a stand.Too worrie about having sacrifice your comfortable lifestayle.We all want that but unless you all band together, this will never end.

The credit card holders which are left contimue to pay them and they are receiving more taxpayer dollars from EVERYONE. So basically you're paying them twice. EVERYONE needs to stop paying them anything.No different than a loan shark putting their interest on top.

Funny how they arrest people/organizations who do the same exact thing they are.I can't beleive people don't see the hypocrisy in this system.You're being raped of your rights, money and dignity.

posted on Feb, 14 2009 @ 07:11 AM

Originally posted by Iamonlyhuman
You know, it just occurred to me that we should be able to deduct all loan and credit card interest from our taxes, not just mortgage interest. After all, we, the taxpayer, are bailing them out.

You can thank Ronald Reagan for that one! This financial chicanery really went into hyperdrive beginning with Ronald Reagan. Yes read the fine print.

From Wiki:

"On Oct. 22, 1986, President Ronald Reagan signed into law the Tax
Reform Act of 1986. Reagan called the 829-page, 33-pound bill 'the most
sweeping overhaul of the tax code in our nation's history.'

"The new code gradually phased out all deductions for interest paid on
car loans, charge-account purchases, vacations and anything else that
fell under what the law termed 'consumer loans.'

Well now they are coming to me begging for loans. Well they can open an account at my new company Shylock Visa! Our motto is "We Collect"

[edit on 14-2-2009 by Leo Strauss]

posted on Feb, 14 2009 @ 07:20 AM
The quickest way for Americans to fix the economy and the bankers would probably if everyone all just quit using or paying on credit cards.

Can you imagine that? No one is loaning money anyway, they say, so why should credit scores even matter?

Credit scores are probably going to be a big part of a recovery problem when all this shakes down if it ever does. By the time everyone loses their jobs or defaults on something, no one is going to have good credit anymore.

Oh yeah, and like what happened to me YEARS ago - Identify theft. I'm living proof one can get by without credit and then recover.

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