I recently got a statement for one of my credit cards and found that the interest rate was raised by ten points to seventeen percent. I called the bank to find out why and was told that there was nothing they could do to lower the rate. The bank is also the bank I use for my business checking and I threatened them with pulling my account of over fifteen years. They still would not budge. My FICA score had not changed and their response was that it is an across the board change including the person I was speaking with.
I am outraged. The banking and financial institutions seemingly caused this current economic problem (I really don’t believe this but let’s assume it’s true) and they received our money as a bailout to keep them open and to lend the money back to businesses at a profit. On top of that they get to raise our interest rates to ridiculous heights. Why now?
There is a bill pending in Congress to limit the credit card companies from raising your interest rates more than a specified amount and the bill is to take effect in December, if the banks don’t lobby for an extension to screw as many of us as possible.
One bank has issued a statement that it will not raise their credit card interest rates now while others have stated that they cannot make that promise. It’s time for us to be heard or we will lose this country to the corrupt and foreign interests that want us to slip into the sea forever. If you don’t make your voice heard now you may not be allowed to in the future.
Call your representatives in Congress and demand that these banks not be allowed to raise interest rates just before passage of the bill and to begin lending our money back to us. If you get the kind of response I think you will get, than vote them out of office regardless of party when their seat is up for re election. We are at a critical juncture in the history of this country and it’s time for us to get involved again. Get off your butts and change the world now! Demand some common sense in our government.
I was instructed by my graphics department to keep this column short this month otherwise I could have gone on for pages. If you want to know the banks I am talking about send me an email at email@example.com or go to our website www.trnusa.com. Get involved take control back!