Boycott Credit Card Companies: Cancel all of your credit cards!

[Enquiringkitty]

I use to have credit cards and it was strange learning to do without them but I am better off now. I have learned how to budget much better and my budget is valid now instead of depending on the future income I may or may not have.

The Senate has just past the bill which hold a gun to our heads when we suffer from unforeseen events that happen to people who have always been solvent, like when your spouse dies and the bills now depend on one income instead of two,or an expensive health procedure that wipes out your savings and is still not paid off.

Sen. Kennedy just said that this bill was written by the credit card company's. The only power we have to strike back is to hit them where it hurts....in the number of accounts they are making money off of.

Cut off their income. Starve them but not participating. Cancel all of your cards....just for 6 months. Show them we have a choice to play their game or not to. Show them that they need us, not the other way around. If I can go back to living on a cash and debt card economy...so can you. Our parents did and it was a time of more personal economical freedom than we have. Save for a year to go on vacation instead of going and paying it off plus interest for a year just like our parents did. Free yourselves from the looming dark cloud of credit card companies hanging over your life bank accounts and assets.

[nadinbrzezinski]

1. oh trust me we don't live on credit

[GetTheRightVote]

2. I hear you and am acting on it today.

:kick:

[Generic Guy]

3. My credit score is so low

I dont have to worry about using credit cards. Like an idiot I used them in the late 90's thinking that all the hard work that President Clinton did would give us many good years to come. Then that idiot stole the election and I lost my job due to 9-11 and ended up getting way behind on bills. I finally found another job and am slowly working my way back out of it.

[DenverDem]

10. I'm with you, bro.

After 9/11 fallout and Microsoft dirty tricks crashed my last company, the cards got maxed and behind. I'm still fighting off the 25% interest payments trying to get another business off the ground.

[Enquiringkitty]

12. Try giving some private investor in your area the chance to lend you

some money to get your business started. It is in their best interest to have your business succeed in the same town that their business is in and local non-business investors have an interest in a growing economy in their town.....might work.

[DenverDem]

15. The biz is working, it's my personal finances that are disasterous.

We did get a small investment that has us over the first year and are seeking a series of larger investments for a specific broadcast project we are developing. Once that hits, I will be able to pay myself decently. (So far, I paid myself 18k last year and 24k this year.)

[Enquiringkitty]

18. Good for you...Keep plugging!

[bluedog]

4. send the applications back

they usually enclosed a postage paid envelop......send all applications back........this way it gives the employees something to open( they think its to open an account)......the employee looks busy and they keep their job...........I've been doing that over the months...........

[tubbacheez]

7. Envelopes are machine-opened now.

And applications are machine-read, for the first pass at least.

An employee gets involved if the optical character recognition (OCR) software can't decipher your messy writing, though.

[peacebird]

8. double the pleasure! and cost them the price of mailing at the same time

[peacebird]

5. interesting idea. I like it. I will write a note in this months bill

to explain why I will not be using a credit card any more. Perfect!
Do stores still take checks?!?

[gizmo1979]

6. Send applications back with a note

of your displeasure.Let them know how you feel!They have declared war on the middle class it's time to fight!

[Enquiringkitty]

11. I use my debt card which comes right out of my checking account when I

have to but I use cash mostly. Checks have to much personal info on them.

Yes...this is really the only power we have....the power of choice.

[tubbacheez]

9. Good advice. Plus, shop local. And pay with cash.

Support your local mom-n-pop stores and restaurants. Pay cash if you can, so there's no processing fee. Tip your waiters and waitresses.

Avoid the big chains if possible, including department stores, discount wholesalers, and fast food.


Keep your money in your community.

[HootieMcBoob]

13. Don't cancel them. It could hurt your credit rating.

According to Suze Orman a big part of your credit rating is made up of your debt to credit ratio. So, if you have say three cards with $10,000 limits on each one and only about $100 dollars debt your doing pretty good. She suggests you pay them off but don't cancel them. If you need to use your credit card then pay off the bill in full each month. That way it doesn't cost you anything. You get the convenience of using the credit card and it actually costs the credit card company more in the long run.

[Enquiringkitty]

19. If I pay cash, I don't need a credit rating. I made a private deal for my

house and it didn't rely on a credit rating. Mine isn't good and I haven't had to do without a thing. I just deal with real people locally.

[dicknbush]

14. you might want to think about this first

Yes it is true that the credit card companies are run by criminals but the system is set up so that your credit rating is contingent on several things one of which is the amount of cards you have. If you close cards down it affects your credit rating. If you have a lot of cards that registers as a large amount of "equity" so to speak and the debt load is spread out and actually enhances your credit rating. If you have say ten thousands in debt and you have it on say 3 or 4 cards it looks good to the machine. If you condense it all down to one card it will lower your fica score and thus hurt your credit rating.

[Enquiringkitty]

20. MY! How did our parents and grand parents manage without having

a computer judge if they were "acceptable" or not. Why....some of our parents might have been lousy folk and we didn't even know it....Hmmmm!

[peacetalksforall]

16. I want to write a rant about the backlash, but I'd also like to know if

those credit card companies ran studies to determine how they were going to handle the fall out from the change.

It just stands to reason that some people are going to stop buying.

Does anyone know if there were studies?

[dicknbush]

17. I think it would be a great idea to get these guys nervous and force3...

Them to at the least get out of the usury business. A concerted effort across the country that would educate consumers as to how they are being ripped off could be very helpful. This could be a Democratic stick to beat the repubs up with. Have "Town Hall" meetings across the country alla Bushit only these would concentrate on helping people get out from under the modern day servitude of credit card slavery. Maybe even set up a fund that would offer much lower rates to help people get out from under these thugs who give our hard earned money to people like Delay so they can go on golf trips to Scotland and Korea.