Credit Card Company Vultures

Photo Credit: Phanlop88

It is perfectly legal to take advantage of poor people. Credit cards are notorious for this, preying off of people with bad credit, charging outrageous interest rates and adding ridiculous fees anywhere they can.

Making money off the back of the struggling masses is nothing new.  In fact, sticking it to the poor is huge business - we're talking to the tune of many billions each and every year.

Now, you might wonder why it's such a big deal. Nobody has a gun held to their head and people can opt to not use these cards,right? And, after all, somebody with bad credit is a risk so the fees are in line with that risk. We'll look at these two falsehoods briefly.

The bad credit issues is something we should talk about in depth, but for now lets just look at it like this. The entire credit system is riddled with errors, organizational problems and gives an uneven and inaccurate picture in many circumstances.

Have you ever been late on a payment? Have you ever been billed in error? Now, try getting an error removed from your credit score and come back and chat with me on your results. I can save you lots of stress and time; correcting your report is virtually impossible yet credit agencies across the nation use that to take money right out of your wallet. Now, is that fair?

Of course not, they have set up the system in their favor and force you to play. Don't think anybody is forced to play? Well, have you tried to rent a car? Have you had huge sums of money sucked out of your debit card account and put on hold to book a flight because they basically penalize you for using a debit instead of a credit card?

And, have you ever had an illness or unexpected job loss leave you without the funds to buy food for your kids? In these cases you whip out the credit card for groceries and end up in their trap for years.  So, before you let big business slide, consider how their game works in the real world;we're all hurt by their actions.

You can read for yourself here.