In "What rate cuts? Use of plastic gets pricier" (Consumer Confidential, Feb. 10), this statement stood out: "The credit card companies always win. They never lose."
Yeah, they do -- when you walk away. Just walk away and join a credit union. I did and now enjoy lower rates by dealing with a local "bank." For the second time in three months, the charge card rates have dropped for everyone.
Every time I read an article like the one in David Lazarus' column about people who feel they are being treated unfairly by the credit card companies, I wonder where they got the idea that these companies are benevolent relatives.
Credit card companies exist for one reason only -- to make a profit. They saw a niche, and filled it by catering to people who choose not to look beyond the moment and will worry about how to pay the bills when the day of reckoning arrives.