Credit Card Rage

I know there are a lot of important and pressing things going on in the world.

It is nice to remember that twenty years ago today the Berlin Wall came down and capitalism with all its positives and negatives engulfed the nations that had been "protected" by the Iron Curtain. Many things have happened in those twenty years and many more will follow.

However, today I want to vent about credit cards, or specifically the banks that control them. My only credit card is with CitiCard and today I received a letter informing me that starting in December my interest rate will be 19.99%. I have never been late with a payment, I rarely have a balance for more than a month, and I have been a faithful customer for fifteen years. This is my repayment, an interest rate jump of 8%.

We, the American taxpayer; bailed out the banks from collapse due to their greed and mismanagement and to show their thanks they decide its time to rip us off.

In addition, our thoughtless legislators in Washington D.C. are allowing this to happen and not doing any thing for the consumer. When is enough enough? It is almost to point where I want to tell the IRS where they can spend my tax money and where they can not use it.

Due to my anger I called CitiCard. For ten minutes I listened to a recording telling me how much they valued me and the next available caller would attend me. Finally someone spoke and I guessed he was from the great Asian sub-continent, probably residing in Mumbai. He was pleasant and tried to understand my concerns. Unfortunately, due to his accent, I did not understand half of what he was saying.

To my credit I did not rant and rave at this young man. I know he has no power and that he is being paid chump change because no one in the USA would accept such a low salary. (More saving on the part of CitiBank, why not share with your customers?)

Anyway, I am now faced with a dilemma. Do I dump CitiBank and go to another financial institution? I did some looking and all the major players seem to charging the same rate - no help there. So, I think I will check out my credit union and see if they have something positive to offer.

One thing is certain, I will appear in the offices of my senators if these banks ever ask for a bailout again and stage a one man sit down strike.

Hopefully, many of you share my sentiment and will be join me in D.C.

Its Common Sense!