How Much of the Blame Do Credit Card Companies Hold in Consumer Debt?

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9 comments for “How Much of the Blame Do Credit Card Companies Hold in Consumer Debt?

  1. February 8, 2012 at 10:40 am

    OMG have you seen the Frontline show about cc companies and consumer debt? If you aren’t angry now…
    (you can watch it free on their site, it’s also on netflix)


  2. February 8, 2012 at 10:59 am

    Oh and THIS one! It’s from 2004. VERY scary and interesting to watch with hindsight…



    • February 8, 2012 at 12:30 pm

      Thanks Tiff. I’m going to check these out. I’m so disgusted with this practice. Something should be done. I haven’t received a credit card offer in MONTHS if not over a year and I get them at the same time as legal action is taken, seems fishy to me.


  3. February 8, 2012 at 8:43 pm

    I used to send all credit card offers back to credit card companies in their pre-addressed envelopes. On their own forms I would write helpful suggestions on how to perform impossible physical acts. I figure that would at least give the Post Office something to do, and waste somebody’s time opening the envelope. Perhaps even throw a little negative karma back their way. I’ve since mellowed a bit and don’t do this anymore, or perhaps I’ve just run of spare time.
    101 Centavos recently posted..Buying Uranium When It’s in the Gutter


    • February 8, 2012 at 10:40 pm

      This is hilarious!! I think I might just have to do the same thing. Maybe I’ll suggest they check out this blog.


  4. Matt
    Twitter: matt76allen
    February 9, 2012 at 6:15 am

    You know what this means, your recent flood of credit card offers. Your credit score has probably gone up! Not that this should matter to you, as it doesn’t sound like you’re planning on taking on more debt.

    Unfortunately, I don’t think there are any “upper level managers,” who make decisions like you’ve described. Apps get sent out to customers automatically based on “highly complicated algorithms” within some computer system. Good credit – gets lots of apps. Bad credit – still gets apps.

    I will often shred the apps I receive and then send the shreddings back in the pre-paid envelope. Like 101 stated, it helps the post office and gives somebody an envelope to open. I hope they spill the shreddings all over the place. I love your idea about putting your blog address in there though. I may have to start including that. Once they figure out who I am, they might stop sending me apps!
    Matt recently posted..Spending Money for Sex on Valentine’s Day


    • February 9, 2012 at 12:00 pm

      Yea I’m not that worried about my credit score. There’s nothing I need it for but it is very interesting. I wonder why it went up. I did make one larger payment (just $150.00) on a credit card last month. It cut my small balance down by about 30%.

      Capital One is just a shit company and I think they are the worst offenders out there. Their practices truly disgust me.


  5. Tiffany
    February 29, 2012 at 2:10 pm

    It is ridiculous. We receive many credit card offers/apps in the mail on a daily basis. We have great credit, so it’s not like they’re predatory lenders in this case, but my husband receives a mailing from Discover Card every. single. day. He is the authorized user on my Discover card that was just opened in December, with a $10000+ limit.

    I recently requested copies of my credit reports because I had to update information contained in the fraud alerts on them. They each had an address you can write to, or a number you can call (I’d have to look closer to remember which) to opt out of pre-approved offers. It may be something to look into if you’d like for these offers to stop.


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