Friday, September 18, 2009

The Revolution will be Streamed

Check out the video below. This woman had her credit card interest rate jacked up to 30% and she decided to tell Bank of America to go screw. Amen, sister. I did that a few years ago. I had a credit card that I had a few thousand dollars on and my interest rate was 15%. At some point the interest got jacked up to 25% and I was paying as much as I could and I wasn't able meet the minimum payment. My balance went up and up and it was mostly due to fees and interest and grocery store purchases because I was using the card to buy food because so much of my funds were going to make payments. Eventually I just stopped making payments. The account was sold to a collection agency, my credit went in the toilet but eventually I paid off the $5000 interest free. Well, not interest free, I think a significant amount of what I owed was from when I got raped by the high interest. I wonder what would happen if a large number of Americans cut up their credit cards and closed their bank accounts and joined credit unions? I've already done that. Join me. I've had a credit card at my credit union for over a year now and my interest rate hasn't fluctuated at all from the starting rate of 14.5%

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