5 of 16

Yes

Write now Article Tools

Small print that even a lawyer can't read. More exclusions than an airline giving out free tickets on holidays. Interest rates that would make a loanshark blush. Come on, what the heck is going on here. The public is being screwed nine ways to Sunday and they keep signing up. My father was right, credit cards are the ruination of this country. I am not for government intervention, but these thieves have to be reined in.

My personal experience reads like Stephen King's latest horror novel. I was promised an interest rate at 8 percent. Like all the other suckers, I signed up. I was never late with my monthly payments. In fact, when the bill arrived, that was the first payment out the door. One fateful day I received my bill and my interest rate shot up to 22 percent. I called the company and was told that they were trying to stay competitive with other card companies. Even though I was never late it didn't matter. Needless to say, furious is not the word to describe my shock. That's it, shock and horror. Or like Marlon Brando said in Apocolypse Now, "The horror". That is what was going on in my head, over and over. It really did feel like I got shot with a diamond bullet right between the eyes! It seems being faithful doesn't matter anymore. Loyalty means nothing.

I complained, I was nice. Didn't get me anywhere. Then I got mad. I'm "madder than hell and I'm not going to take this anymore". So I stopped paying. I didn't care if they reported my credit. I didn't care if they called. I was going down the road of the write-off. And you know what? It felt good. It felt real good. Because now, if I don't have the cash, I don't buy. That's right. No cash, no get. No more living on a hope. No more waiting with baited breath to see how much I charged each month. No more "Shock and horror".

I am no longer hostage to these thieves. They need to be regulated, because they can't regulate themselves. It is quite unfortunate as they had a good thing going. But no more. Congress is wondering what the latest antics they are pulling with the consumer. They are joining the oil companies as the most hated corporations in existence. I think Bin Laden is on the board. Maybe this is the latest terrorist attack, hit them hard in the wallet. Well, it worked for me. But I have found an out. They are frozen out of my life.

What is in your wallet? Hopefully, good old green cash. That is enough for me. I can trust in the dollar, even though it is sinking.

Learn more about this author, Anthony Megna.
Click here to send author comments or questions.

Add your voice

Know something about Should the government regulate the credit card industry??
We want to hear your view. Write now!