Ingenue

Credit Card Industry Critic Highly Opinionated, Clueless

"Do you remember First USA? Providian? MBNA?"

Yes, I remember them. I am still a customer trying to free myself from their predatory tactics. I will be canceling a credit card soon after I pay it off. Washington Mutual, which bought Providian, are still employing the same nasty tactics, double-billing, raising interest rates for no apparent reason except greed, and the list goes on.

And Washington Mutual got bought out recently by JP Morgan Chase, another big bank known for their terrible service and continuing predatory tactics.

It has already been debated and proven to death that these predators make more money by these predatory tactics than they do via fair interest rates.

During an investigation into a class action suit against Providian (which they lost), an email from Kar, an officer of Providian, surfaced, in it he wrote "[the] problem is to squeeze out enough revenue and get customers to sit still for the squeeze."

I think the clueless is you, sir.