Credit Crunch

Credit card companies are stupid.  I don't know why these idiots aren't being shutdown one by one instead of getting tons of taxpayer money. 

We have this huge "economic crisis" and I've had two out of three credit cards send me a "change of terms" notice.  Either I allow them to increase my fixed interest rate by 5-10% (dumb) and make it variable (dumber) or they shut off my card.  I've had these cards for years, never missed a payment and the best thing they can do is shove all that up my ass.  Instead, I tell them (Citi & Captial One) to shove their new rate and close the card. 

If that's not stupid enough, new companies, and those we've canceled cards from before, send us wonderful offers in the mail all the flipping time.  Before the "crisis", we would get 5.99-8.99% fixed rate offers and now all we get is 11.99-20.99% variable offers!!!  Are they really stupid enough to think, with interest rates lower than ever before, that we're going to sign up for a 14% variable rate just so it goes up to 19-24% when things start getting better???  I know not everyone is smart, like me (which is debatable), but this is more evil than stupid on their part.  These offers are aimed at people who don't understand credit cards and the horrors that will come (hopefully) in the next year or so when things are fixed. 

If this post pisses you off (like it does me), please watch Maxed Out to see why we should all fear credit cards.