thedozer

Moody's Sees Stress on Credit Card Industry Through 2009

Usually I wouldn't endorse the thought of a party defaulting on an obligation. But the unsecured debt world is full of misleading dirtbags preying on the addicted spender.

When Paulson starts using my money to bailout these guys (as he will) for something that is by definition 'unsecured'; I will officially blow my lid!

Back in my days of debt, I was personally screwed by Chase via interest rate hike despite 4 years of timely payments on a 0% card....

The reasoning... "my balance was high relative to my limit" ... yeah...
according to who??? Chase... With NO criteria as to how the word "high" was defined. For the record, the bill was decreasing each month as I payed...

My lesson learned... NO MORE DEBT! EVER... save & pay $

wow.... what a proverb... maybe ALL of us should adhere to this mantra.