I cannot believe the greed of credit card companies nowadays! Look at this:
Visa credit card company revenue 2023 is $32.7 Billion!
That is up 11% from last year’s $29.31 Billion, which was up 21% from the previous year. When will they be rich enough?
It’s not their richness that riles me up. It’s how they are charging people 35.99% when they can get away with it — when the consumer is struggling and doesn’t have wonderful credit.
On the other end of the range, if you have great credit, then they “only” charge 8.75%, which is still too much, in my book. I mean, there’s no way I am paying that!
It’s not just Visa, either. The rest of them are just as greedy!
American Express revenue as of 9/2023: $65 Billion
MasterCard $24.36 Billion
I would go on, but I think you’re already sick enough!!!
STOP LETTING THEM TAKE ADVANTAGE OF YOU
Don’t let them gouge you like this! You work hard for your money, and it should be yours.
And in case you’re wondering about usury laws, the laws that make it illegal to charge an unfair and insane amount of interest, usury laws do not apply to credit cards!!!
How can you stop this greedy madness? It’s simple.
Never charge more than what you can pay off when the bill comes. That way, you pay $0 in interest! Ha!
Use the card as a convenience without carrying a balance, without paying a single cent in interest.
Then let them charge 100 percent interest if they want, BECAUSE THEY CAN’T TOUCH YOU — as long as you pay the bill in full each month.
This holiday season, find ways to celebrate that does not include going into debt. Don’t make the greedy creditors more filthy rich than they already are! Are you on board? Post in the comments your thoughts.