Credit Card Companies Article

http://money.cnn.com/2005/10/14/pf/bad_banks_0511/index.htm

No secrets in this CNN article, but you know what? It makes me mad. It just doesn’t seem morally right, nor ethical to use so many tactics to take people’s money. It is absolutely ridiculous that these companies can prey on so many people that don’t take the time to read the fine print, and even if they do, aren’t likely to follow every rule without fail. I don’t care how organized someone is, or how meticulous they are, these tactics are designed to trip up most people over time.

So, the lessons I’ve learned over time on this subject:

-Banks are evil. Use a credit union (for banking and credit cards)
-Don’t carry a balance
-Don’t sign up for what I’d call “gimmick” offers from credit card companies
-Shred every credit card offer before you even open the envelope
-“Opt out” of all that junk mail so you don’t get the offers in the first place
-Never, EVER pay an annual fee
-Nobody cares what color your card is. Gold, platinum just mean you can carry MORE debt
-You don’t need a “themed” credit card. It’s just a credit card for crying out loud