[ Edited ]
01-11-2013 07:14 PM - edited 01-11-2013 07:51 PM
Ok so I have posted a few threads under Credit Cards in regards to individual creditors & the relative "dislike" or slight "hate" I have read posted and felt the need to chime in. I should have just posted this instead (oops).
In my line of work (contracted QA Mngr for DMP), I am at the front and center of consumers in line to get help from under credit card debt. From $2000.00 of unmanaged store/retail credit to 200K+ of various credit cards (the prestige cards all the way down to FP and Credit One accounts).
Although the reasons for getting to DMP differ (extreme hardship to "I don't like my interest rate!"), very few consumers who have not suffered a major life changing event (death, nature's lovely actions, job loss, etc.), actually take responsibility for where they are at financially. I cannot stress enough that I am not heartless, but I do feel that a lot of these bad situations could have been handled, if not avoided completely, had informed decisions been made along the way. It is NOT always the creditor's fault. Actually, I rarely feel the creditor is, actually, at fault. They did their job. They lent you money, on their terms that you agreed to, you failed to pay it back. There are penalty APRs, fees, etc. (again, you agreed to)
Yes, there are bottom feeder lenders who prey on the down on their luck, hoping they apply for their over-priced almost useless credit lines but I have yet to find one - ANY - that hides these terms. They are not deceptive, their (ridiculous and overpriced) terms are to be READ and REVIEWED before you click that little I AGREE!! SEND ME A CREDIT CARD!! button.
ALL credit is a privlege, NOT a right, and it tends to get under my skin when those who click now, whine later, fail to take responsibility for their actions AND purchases. You do not spend more than you can afford. Credit is not free money. Consequences for all actions.
Ok, that's my vent. Thank you for reading.