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Showing posts from December, 2007

Banks DON'T want to help you

OK, this is a bit of a rant but I'm a bit frustrated with banks right now.  They have all of these cute commercials about how they want to help you achieve your goals.  The truth is that they don't.  They don't want to help you, they want your money.  They'll say and do whatever they need to get it but that's what they're really after.

Bank policies are based on how much income they get from their customers.  They will charge you for anything they can get away with.  There are fees for everything.  They also encourage you to borrow money for anything you want.  I recently saw an ad for a medical credit card encouraging customers to use their credit to get plastic surgery.  This is a card that charges about 17% interest.  Oh and that's another thing: interest.

It seems to me that interest rates are backwards.  Those that need money the most seem to be charged the highest interest rates while those that already have a lot of money are charged less.  That doesn&…