Saturday, September 23, 2006

credit cards suck

I hate the credit card companies.  Don't get me wrong, I love charging things, I hate carrying cash.  But they take such advantage of the stupid people.  Maybe they deserve it, but still give it a rest already!
The typical credit card charges approximately 10 billion % interest, compounded continually!  That really doesn't matter if you pay your bill every month, as you should.  BUT, I got a statement last month for $705 on one of my cards.  I have to pay the minimum of $22.  That's 3%, and just stupid.  I bet a lot of people look at that and just pay the minimum either because they don't understand or because they thing they will have more money now if they pay less.
Moral: pay off your credit cards immediately.  it's not free money, it's only borrowed till the end of the month.

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