Blind Item: Which credit card company was seen feasting upon the necks of foolish debtors while holding a Jesus mask in front of its face?
Credit card companies want you to pay the minimum balance, and that’s all. Doing so keeps you enslaved and paying back many times your initial debt. I Will Teach You To Be Rich blog has a friend who had a speaking engagement at a major credit card company. They sent him some prep materials, whose contents could be summarized as follows:
- “They make you feel empowered to spend, but beneath it all these guys basically want their customers to spend more, upgrade to the next plan, get a higher credit limit, and then spend more. And this is one of the credit companies that has a good public face. We all get fuzzy feelings when we think about them!”
“An interesting story about credit card companies” [I Will Teach You to Be Rich]