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Jon Stewart explains credit cards so even an idiot can understand why they are bad, and then goes into the predatory practices of the current banking industry.
Monday, March 01, 2010
A Video Everyone Should Watch
Jon Stewart explains credit cards so even an idiot can understand why they are bad, and then goes into the predatory practices of the current banking industry.
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2 comments:
Im in the process of canceling all my bad cards (BoA, Wells Fargo, Chase) that charge me interest even on a zero balance. Citi doesn't do that, but interest rate will jump to 29.99% if I'm late on the minimum payment (which is why I have autopay on that.
There's a nice bank called USAA in Oklahoma that doesn't do any of that crap, or hasn't. That card I'll keep.
We're down to one actual credit card, and like yours, that's from a small bank. We're keeping it paid off as much as possible. We also have got a secured card because we can keep the limit *really* low (only $300) and that keeps us from using it too much.
Our credit recently went from great to... not-so great. Thanks to Frankenhaus.
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