I don’t know about you, but I am disgusted with the banksters on Wall Street who wrecked the economy while laughing all the way to their Swiss Bank accounts with our tax-funded bailout money. Then, after all we as taxpayers did to save their entire industry, they thanked us by jacking up credit card rates and lowering limits. Even on some credit cards where I had never made a single late payment or carried any significant balance, the banksters jacked my interest rate to nearly 30%! If you have been similarly shaken down by these greedy weasels, I am happy to share with you a perfectly legal and very gratifying way to fight back. Interested? Follow me past the jump…
The way to beat these predators is to take away the one thing they care about above all else – your money. But how you ask? Do what I did. I found a local credit union, became a member of the union and moved my checking and savings accounts there.
Then, once I was a “member” I opened two new credit cards and transferred my balances from my Chase, Capital One and Citi (most of which had recently jacked my rates to anywhere between 22% to 30%) to the new Visa accounts from the credit union. My new cards had introductory rates of 1.9% and after six months they will reset to a much more manageable 6%.
Credit unions are in operation in nearly every county in the US and they are NON-PROFIT. So I am no longer subsidizing ridiculous bonuses for people who have failed monumentally not just as bankers, but as humans. I am also no longer paying their extortion money ridiculous interest rates and punitive fees. Consider this short list of facts about credit unions.
- They cannot charge higher than 15% APR on credit cards.
- They typically provide between 15 and 25 days grace period for monthly payments. So if you miss the due date by a day or two, you don’t pay the outrageous late fees or get automatically boosted to the usurious default rates the banks slap on you.
- Credit unions are every bit as highly regulated as the banks are and deposits to Credit Union accounts are protected by the FDIC too.
- Credit unions offer all the same types of financial products like auto loans, student aid, mortgages, retirement accounts, competitive auto insurance rates and more.
- Credit unions are smaller, more grateful for your business and thus more responsive to their customers’ needs.
- Eligibility for credit union membership is often times very easy to meet requiring members to meet simple criteria such as “must live in a certain area” or “must be a student” or “must have a job in a certain field”.
- Credit unions are almost always affiliated with ATM networks providing members with convenient ATM services at many locations even if the union doens’t have many branches.
- There is much more to learn about the benefits of credit unions and community banking. Check out more info about it at: www.MoveYourMoney.info. Also see the Credit Union National Association website at: www.cuna.org.
This is an idea that has been recently gaining alot of steam as more and more Americans are realizing how we’re being abused by the big national banks. Nothing feels better than knowing that they won’t be making one more red cent from me now that I have voted with my feet and deprived them of their life’s blood (my hard earned money). I strongly encourage everyone to do the research and if it is right for you, make the switch too.
If you have questions, ask me in the comments and I am happy to help find the answers.