Maxed Out:
Ridiculous Things I have learned:
- Credit Card companies hold checks so that your late, over-limit or interest fees rise incredibly to where you start with having to pay about 80 dollars before you deal with interest which can be up to 29.8%
- Credit card companies target college kids and also people who have filed for bankruptcy at least once to determine who they want to get their cards because the other people will be able to pay their bills because they have steady jobs and college students do not- if they fall into debt they are pretty much…fucked… and people who have filed for bankruptcy may do it again and have trouble managing money (more late fees and over-limit charges)
- If you cut out the people that are deepest in trouble or who continually fall into debt then the credit card companies wouldn’t make nearly enough money
- A good number of the population who has credit card has had mistakes on their credit report
- Credit card companies assume that the card holder is the criminal not that there is a flaw in the computer
- Consumers think that they have privacy- but the constitution does not give you a right to privacy from a non-government individuals or companies- only a right to privacy from the government
- There is no grand plan in congress for an end to this- they have no plans down the road for this
- President Bush’s top campaign contributor was the credit card company MBNA who also wrote the bill that made it harder for middle class people to be able to file bankruptcy that Bush backed
- We no longer have a Social Security Fund because the federal government has spent it all…mostly Bush…
- For many the only way out of the debt is death- so many commit suicide
