The American Credit Card Rape

Thanks to the unfair abuse of the credit card companies we as Americans have become the functional walking dead. I do not have to name all of the companies involved because as Americans if you are a credit card holder you already know full well whom I am speaking of.

We are being controlled by fear, the credit card companies got us into this mess and it is time that they got us out of it. If it wasn't for the Suze Orman show, or Glenn Beck would we actually be informed the truth? I do not think so. You can candy coat it all you want but any American who owns a credit card at this time is in trouble. I recently did a survey on Face Book with the 144 friends that I have. I asked them what their highest APR's were, my worst nightmare has come true! It is not just me! Many of the people have reported to me that all of their APR's have risen between 22%-30%. Only one person out of the 144 people that reported back to me, stated that he got rid of his cards years ago, and I couldn't be happier for him. These are hard working men and women who I know and care for, not only have their APR increased but, their limits have been slashed. I feel like these credit card companies are doing exactly what Madoff did, and yet there is no punishment for the credit card companies, and it seems as though we will never get our money back.

I love watching all of the other so called news, people have the nerve to blast Glenn Beck and Fox News for reporting the actual truth, when at one point I could not stand to watch other networks, because after watching them before sleep I became afraid, depressed and had such nasty dreams. News is news bottom line. But, when you are an American citizen and truth is limited, it raises a question in my mind. Are we truly free here in America? The only way to change this economy is to be informed. With truth.

I watch Glenn Beck and the Fox New Station and I finally feel like at least someone is not afraid to tell the truth and now because of the truth, Fox News is being beaten up for it. Is this really America, the home of the free? Is that even fair? What they show in main stream news, is indeed censored. Why would I say such a thing? Because the all mighty dollar is more important then the well being of the American people. We are fortunate to have people like Oprah and for Suze Orman," People first, then money, then things." Women who teach Americans about our finances and inform us about life and situations that occur within life. Suze Orman uses her knowledge to help the American people. May God bless her because really, what she teaches us is useful information. Information that should have been taught to us in school. But it never was. It was never mandated that we learn about financial security. Something that is such a necessity. No wonder our economy has tanked. When you work hard every day, pay on time and the market goes to crap, we have to suffer for the decisions made by others. Information is needed, and so is the truth. American people are indeed responsible for the debt that we incurred and the interest we are supposed to pay back.

However, due to greedy credit card companies, lies and the need to make more money for themselves, those interest rates jumped and limits were slashed. The credit card companies are responsible for that. It is a true injustice to American citizens who thought they lived in the land of opportunity, not the land of lies and fraud. What is done at the top trickles down to the bottom and hurts us all. We relied on these people. We believed in these people because we were not financially educated and thought that the people who were, would do right by us. President Obama signed the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. Please Google this and read it, it is a beginning. And for those suffering out their it may bring you hope.

On October 23, 2009 I received an email from Congress Women Nita Lowey serving New York's 18^th District. In the email it states that the effects of the Signed Credit CARD Act will not take effect until February. It states that "more than 60 percent of respondents carry a monthly balance on their credit card. More than 90 percent have encountered unfair increases in their interest rates, such as increases without notice, increases due to behavior related to other creditors, or retroactive increases on existing balances. Each of these practices will be prohibited when the Credit CARD Act goes into effect." I have included the link in this article please see for yourself as she is who represents those who reside in Westchester County along with many other districts.

That brings me some satisfaction; however it does nothing for us now, all of that money in interest where did it go? That money in interest truly could have paid our debt years ago, and this would not be happening now. I am one person and have suffered with this insane debt, now imagine all of the other Americans.

What is worse is that it still happens. Just a few days ago I was in a clothing store, a young Hispanic women who did not speak English very well was trying to pay for her clothing. The store clerk asked her "would you like to apply for our store card?, (she did not say credit card) you can get 20% off your next purchase you only have to fill this form out." I just stopped and watched; the young women got confused and thought that the credit card was a type of gift from the department store. She was asked for her social security number and if she would like someone else to be placed as a user on the card. The women kept saying something in Spanish that I and the teller could not understand, and the teller said "just sign here". The women did, she wrote her social security number down and said it out loud in front of everyone, I noticed that she did not even know her own phone number and also said it out loud to the clerk. Any theft or scrupulous person could have potentially stolen her social security number. She was approved. I have been a victim of Credit Card theft which is why I was empathic toward this women.

Now the poor women has no idea that she will be getting a bill, she has no idea what the card is really for and she will incur debt, late fee's and finance charges. I felt sorry for that woman and by the time I had gotten to the clerk with my own clothes to buy the clerk looked at me and put her head down. Knowing what she just did, potentially just hurting that women because she did not explain what the card was really for.

How is this OK? We depended on our financial institutions we trusted our financial institutions; we had every intent of paying back our debt. Those who didn't have the intent of paying their debt back should be penalized for it. But those like myself who have paid on time and played by these so-called rules set up for us, should not be penalized. We trusted these financial institutions and they failed us. Now we don't trust you. And I challenge my readers to stop. Breathe and fight like hell. This is our money they are taking. The Credit Card Act is a step in the right direction however; many of us have lost so much already.

We need to hold all of these financial institutions accountable, for all the horrible things that they have done to us. We are Americans the land of the free, so why do I feel as if I was just raped and can't breathe that all I have worked so hard for has been taken away from me. With no control over our own financial well being. We are the functional living dead.

Common sense: how do we get out of debt? We pay the debt. But we can't seem to be able to do that because we are paying such high interest rates, and then we are getting charged late fee's all of which could be avoided if we could actually just pay our debt. I am asking the Financial Industry, Americans, and our President to consider, removing all APR's for one year. I am asking Chase, BOA, HSBC, and any other lender, to step up. Restore our faith in our economy. Yes we all have to pay our bills. But, if you Lenders gave the American people a chance to pay our debt without APR's for one year. We could possibly help turn this economy around. We had faith in you! Allow us to regain that faith once again. If you remove the APR's for one year, you give the American people a chance to pay off the debt that we actually incurred. In a sense we were raped by the Credit Card Industry. We are an economy based on money that we do not have. We never did, we can not back it up. So we must start again.

Give Americans a chance to breathe. To pay the actual debt we owe not the APR's that were forced on us. In one year, that debt may be gone and we can begin again. Instead at that time with a system based on integrity and truth. With the ability to be informed about what we are about to get ourselves into. The dispute the hatred spread all over the news, the debates on who is right and who is wrong, will be gone. The anger, fear, and depression may just lift from us. Where we can go to work and make an honest living without the fear that we will go broke. As a 28 year old young women, I am highly discouraged as to bring a child into this world. I would not want my child to have to suffer the way we all have. It is almost like you have taken the joy away from our lives. Due to greed, lies and misinformation. It is sad when a young women does not want to bring a child into this world because she fears that the child will not stand a chance in such a hard world that is full of deception.

We are Americans where is the patriotism? We are a nation that once took action. Our ancestors came here to create something better for us. They worked long and hard to build a future for their children. Now we are a nation in debt. This is very sad for the American people, for the groups of cultures that came here and built this for us. We have let them down. The financial institutions need to "man up" and take responsibility for all they have done. I fear that if action is not taken now, we will then earn our money, hide it in our homes. Which will then cause an increase in robberies. American's in their own home land will not be safe. We are so focuesed about over-sea affairs but we are not trying to protect what is going on in our homeland. We need to protect ourselves and then take care of others. So ask all of you readers,the Obama administration to please act now without fighting eachother. For I fear that the future of America will not be bright and we will have lost all that we have worked so hard for. The home of the free. May God Bless America.