"How to Profit from Credit Cards"

Wow! That was my immediate response after breezing through creditrating.com forum. Now, I’m happy people have found ways to milk the credit system, but in today’s economic climate, maybe it’s just me-maybe I am the only person in American who truly thinks it takes some rather large and heavy brass cahoneys to promote profiting from credit cards.

I think by now many of us have heard about the credit card legislation that has passed through congress and the regulations that are eventually going to be placed on credit issuers. This has come through years of over-charging interest rates, changing billing cycles and fees at their whims on people who are already burdened in debt. And especially now, when unemployment is still going to surge, our economy is still in a precarious situation and people are penny-pinching to feed their families. And some promote how to work the system in order to get rich of credit cards. Wow! It’s really all I can say.

I’m not sure what strikes the biggest nerve; the selfishness and greed or the fact we’re still not getting it. It is this kind of get-rich quick schemes and earning a buck by pushing paper and turning credits that got our country into this economic quagmire. Even after the economy has stabled after the near collapse last October, we simply cannot go back to the same practices and financial ideology that has gotten us into this situation. We simply can’t make profit from nothing any more. We are not only de-valuing money, we are devaluing our society.

Many in the credit industry criticize consumers for over-spending and irresponsibility with credit card use. To me, using credit cards as a means of profit is highly irresponsible and downright dangerous. And it is these people, who make money off credit issuers who make it bad for the people struggling in debt.

We need to understand that when we talk financial responsibility that goes for all; consumers, creditors, corporations and our government. We simply cannot profit off other’s debts and call it good and responsible. We need to call it what is-greed….and it’s not good.