How Greedy Can They Get?

…’Very’, Evidently

Credit card companies are concocting new ways to bring in revenues, increase profits and crap on their customers—especially the ones who pay off their cards each month and don’t carry a balance—according to this account here at wcbstv.

In a bald-faced lie, the Director of Consumer Research at CreditCards.com said, "There is a big segment of their population that they will have never made money on, which is people who pay their bills on time every month."

Excuse me? “…never made money on..” Yeah, if you exclude all those annual payments just to carry the cards, maybe.

What these loan sharks (example: Bank of America) are doing now, is taking a $29.00 annual fee and hiking it to $99.00 on those accounts that do not carry a balance, thus punishing people for paying their bills on time. Think you can get back at them and just cancel your card? Think again.

“They can either pay that fee or they can close the account, and if they have had the account for a while and they close it, they are potentially going to hurt their credit card score,” said the CreditCard.com spokesman.

Capitalism is the best form of business system on the planet—unless and until greed is allowed to run rampant and uncontrolled. This is just another example of why strong regulatory government is needed to watch over and control such business. Next thing you know, credit card companies will be wanting the government to bail them out…Oh, wait…never mind.