Saturday met me with grim news. Our long standing bank, Wells Fargo, sent us a letter informing my husband and I that our credit card was facing a rate increase, from 10% to 30%!
Keep in mind, we have not missed a payment. We have dutifully plugged along in our middle-class life.
Needless to say neither of us could believe it, however reading this and this, and then of course calling Wells Fargo, convinced us that yes, they will be fleecing us.
I seem to recall Wells Fargo collecting $25 BILLION in federal bailout money last year. And something seems seriously awry. As a tax payer, am I not technically paying (still) the bailout that is currently financing the bonuses WF will distribute to it's executives, now or three years from now?
I can't help but feel fleeced, no raped. Not only do I pay the fees associated with banking and general credit card maintenance, but now I am asked to pay 30%?!
Somehow Washington thought that enacting 'credit card' protection would help the consumer, but here we are normal every day people who will now have to choose, eat or pay our credit card bill.
Let me ask you, which would you choose?
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A place where a thirty something woman wonders about the significance of Mammon in modern American life.
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