Forum Post: Balance Transfer Day - #Occupy Credit Card Companies
Posted 12 years ago on Nov. 10, 2011, 4:09 p.m. EST by studentrallynyc
(29)
This content is user submitted and not an official statement
Did you know that 73% of American families carry a credit card? 46.1% of all families now carry a credit card balance. Average Interest rate is 15%.
Consider this: Rate at which banks get money from Fed: 3.25% or 0% (Think 2008 bailout)
Join us December 11, 2001 on Balance Transfer Day, as we are preparing to send a message to Credit Card Companies
Find out more at http://www.facebook.com/BalanceTransferDay
No More High Rates!
This is terrible-which card company requires you to have a balance like this-let me know so I can avoid. I do have credit card but keep zero balance-they are nice and dont make me keep a balance.
Zero balance is not good, because that lowers your credit score. You see, they build a game around this. You get a zero interest credit card, keep it at a zero balance thinking that you are building a credit history, yet it's not true, because the Credit Reporting Agencies consider that you are building your Credit History if you use the Credit Card often. Credit Card Companies, inturn, want you to spend so that you get into more debt. What we are having here is a fox guarding chickens.
Not a big deal. Use my card for specifi things. Everything else is cash. I have found that buying with cash prevents me from frivolous spending. It works. If I want something-I simply save for it-its way cheaper. You are a bond slave to credit-change habits and use cash. You would be surprised how well it works.
Is this similar to: http://moveyourmoneyproject.org ?
I'm not a part of the 1%'s Social Network/Data Mining Operation.
I also don't have a credit card...never have...never will.