CAVEAT: THIS BLOG CONTAINS (albeit often very childish) ADULT-CONTENT. DISCLAIMER: Entries at this blog are akin to good old-fashioned campfire chats; I offer no opinion on what you should or should not purchase, or what you should be using or doing. What does or does not work for me could be long country-miles away from your tastes and your needs. Any products, places, and / or whatnots that I review for this blog are purchased at retail price by me. I do not accept payment, gifts, discounts, freebies, products on loan, demon alcohol, drugs, plea-bargains, probation, parole, Presidential Pardons, or sexual favors for doing any review. TRACKING COOKIES: Google et al sticks tracking cookies on everybody. If you are online, you are being spied on; 'nuff said. You may be able to minimize your online footprints by using Tor and Duck Duck Go. Vive la liberté! Vive all y'all! Ante omnia armari. To each of you, thanks for stopping by!

Saturday, June 2, 2007

Archive from June 2, 2007

Entry for June 2, 2007

Any company or bank that issues you a credit card is not your friend. Read that sentence again then tape it on your bathroom mirror. Banks and credit card companies moan and cry about the risks they take, and about how many deadbeats there are in their business world. It is all trash-talk. Banks and credit card companies LOVE people who cannot manage their money. They LOVE when you are late with a payment so they can charge you a late-fee that is pure profit. The profits they make on late fees are obscene. Further still, a credit card with a “low rate” is seldom under 9% unless it is a “teaser rate.” Therefore, you rack up a huge credit card balance at 9%, which is bad enough. Pay it late once or twice and suddenly you can be 18%, 21%, or even as high as 29.99%. These obscene rates are what your government allows these companies to charge you. If a crime syndicate loan shark charged these rates, the politicians would call for congressional action. Credit cards can be your friends, but the banks and credit card companies that issue the cards never will be. They can legally raise your rates into the “penalty zone” if you are paying ANY of your bills late, not just your credit card bill. The politicians have failed you.

If you are thinking of investing for your future, if you have any dreams of building a nest egg for retirement, PAY OFF YOUR CREDIT CARD BALANCES and promise yourself NEVER to carry a monthly balance ever again. It is the biggest step you can take to achieve financial independence. The only friend you have is yourself. Give yourself a hand.

Thanks for listening.

James A. Zachary Jr

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