Dean Starkman of The Columbia Journalism Review attributes it to the fact that the credit card industry “has shifted from a lending and underwriting paradigm to a sales paradigm; penalties, fees and default interest rates that were illegal a generation ago are no longer regrettable outcomes to be avoided but central to the business model.”
The bottom line – you’re not alone. The credit card companies are so intent in growing their profits on a quarterly basis that they keep scheming new ways to keep you in debt.
Together we can fight back, and the time is now. By decreasing our credit card balances, we will not only save money, but also stick it to them where it really hurts. Their wallets!