30 Dec, 2009
Consumer interest in the 79.9% credit card called ‘phenomenal’. Blakk frogg calls it STUPID, OUTRAGEOUS, APPALLING and DISGRACEFUL.
Read the article: ‘Phenomenal’ Interest in Credit Card w/ 79.9% Rate
Blakk Frogg feels certain that somewhere on the application it has a mandatory checkbox labeled, “Check this box if you have read and fully understand the Terms of this Agreement. You must check this box to receive Approval. Please bend over.”
While many of you probably expect Blakk Frogg to write about how he pays for everything in cash and cut up all his credit cards 10 years ago… Ha! Fat chance of THAT!
Your friend Blakk Frogg got sucked into the depths of credit card debt not once, but TWICE and STILL has ridiculous payments to make each month. Life’s unexpected events (such as losing one’s job unexpectedly a few times) can really screw up a person’s financial plans, ya’ know?
So why did Blakk Frogg decide to write about the credit card with a staggering and downright shameful 79.9% interest rate? Simple: The fact that some Americans, roughly 2% of the people who received the application by mail according to the article, find themselves in such a bad financial position that getting bent over a barrel and taking the bank’s big stick of abuse deep and hard makes sense… does not make sense.
Blakk Frogg remembers reading about times in American History when Americans thrived on overcoming the odds and succeeding in the face of adversity. At this time, however, he does not see that unfortunate 2% ever beating the odds and reclaiming their financial freedom.
It sucks that people find themselves in such crappy places in life that they think a credit card with an interest rate rivaling that of a loan shark will work as a lifeline. Too bad the level of desperation in their lives does not allow them to see that the credit card more closely resembles an ever-tightening noose than anything else.
Sorry for wasting your time with this purposeless rant. It just pisses Blakk Frogg off that the same industry guilty of luring unwary citizens to their doom with ridiculous offers of credit and handing out mortgages to people knowing full well the people could not afford the payments has found yet another way to ruin people’s lives.
Seems to Blakk Frogg that only the American people have to stand accountable for their mistakes in judgment and financially irresponsible ways… while the ‘Fat Cat Banks’ with grossly overpaid Executives just keep getting fatter and fatter off the blood, sweat and endless nights of tears pouring from the worried eyes of hardworking Americans.
Poetic… and pathetic.