September 23, 2009
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Lousy Credit Card?, Pt.1
Free market, do your thing.In a free market we, the consumers, are the boss. Remember that. We've been tossed around long enough. At first, of course, some radical changes were necessary. But now, we credit card holders have become embroiled in a battle between the credit card industry and those in government who would step up to protect us. The government can't do it all. They can pass laws but can't control attitudes nor enforce cooperation. If the credit card issuers decide to punish us consumers in retaliation to the consumer protection laws in a free market, the remedy will ultimately be up to us.
For millions of credit card consumers, it may be time to shop around. Interest rate hiked, credit limit drastically reduced for no good reason. How about the new annual fees being imposed on us to nickel & dime us to poverty? In the end, the last thing a struggling credit card issuer needs is to lose good customers. Just because some issuers have become so huge they don't realize they're also punishing us responsible and loyal customers is no excuse. They need to hire more people with good pay to keep track of us. As millions of us can attest, many large companies aren't doing that now.
For the responsible among us, it's time for change. Good deals are out there. Check out our home page. This isn't a sales pitch. Many of our offers may not be right for you. Yet there are so many to pick from at your fingertips, your effort is small and your rewards can be great. You owe it to yourself. Be mindful, however, that a good FICO score will probably be required. Don't expect your current credit card provider to write you an apology anytime soon. Until enough of us defect, they won't even know we exist.