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	<title>Comments on: Credit Card Monopoly:  Top 5 Issuers Hold $550 Billion in Credit Card Debt Taking up over 60 Percent of the Entire Credit Card Market.</title>
	<atom:link href="http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/</link>
	<description>Investing ideas for preserving wealth in a fluctuating market.</description>
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		<title>By: Blair</title>
		<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/comment-page-1/#comment-16557</link>
		<dc:creator>Blair</dc:creator>
		<pubDate>Wed, 02 Dec 2009 04:46:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.mybudget360.com/?p=1456#comment-16557</guid>
		<description>Credit card company of which I maintain my largest balance and have been diligently trying to pay off for over 2 years just raised my APR from 11.99% to 17.99%!!  Called them up and literally had no negotiating power with them but managed to get them down to charging me 14.99%- gee, thanks for screwing me over just a tad bit less!! Admittedly the debt is my fault and I got myself into this mess but they really have a way of kicking the man when he&#039;s down.  They had the gall to say the increase was due to an &quot;economic hardship rate increase&quot;!! Oh really, who&#039;s hardship?? Let&#039;s see, I&#039;ve been unemployed for over a year now, networked &amp; applied to over 1,000 jobs since then with no results and used to work a well paying mid level executive job with great references and experience.  31 years old and broke - great American dream!!</description>
		<content:encoded><![CDATA[<p>Credit card company of which I maintain my largest balance and have been diligently trying to pay off for over 2 years just raised my APR from 11.99% to 17.99%!!  Called them up and literally had no negotiating power with them but managed to get them down to charging me 14.99%- gee, thanks for screwing me over just a tad bit less!! Admittedly the debt is my fault and I got myself into this mess but they really have a way of kicking the man when he&#8217;s down.  They had the gall to say the increase was due to an &#8220;economic hardship rate increase&#8221;!! Oh really, who&#8217;s hardship?? Let&#8217;s see, I&#8217;ve been unemployed for over a year now, networked &amp; applied to over 1,000 jobs since then with no results and used to work a well paying mid level executive job with great references and experience.  31 years old and broke &#8211; great American dream!!</p>
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		<title>By: Robert</title>
		<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/comment-page-1/#comment-16469</link>
		<dc:creator>Robert</dc:creator>
		<pubDate>Mon, 30 Nov 2009 13:12:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.mybudget360.com/?p=1456#comment-16469</guid>
		<description>Great Job Willow! 

I have often asked, &quot;What if the American people just STOPPED PAYING these companies?&quot; They charge criminal interest rates that no one singed on to initially, accept taxpayer bailout money and then turn around and screw the people who bailed them out in the first place.

Here&#039;s the deal. Wall street, government and the banking cartel are a CRIMINAL enterprise. The American people are finally waking up and realizing this. The sad part is that nothing short of a second American Revolution will stop their criminal behavior, as all branches of government have been corrupted.

Stop playing their game. Willow is right. Hit them in the pocketbook. 

Who gives a rat&#039;s ass about your credit score when your family is starving and the very people we elected are bankrupting our nation. The government certainly doesn&#039;t care about their credit rating and continues to mount debt upon debt.

&quot;Do as I say, not as I do&quot; is their motto!

I see our boys dying in a war (non declared) that should be fought to win...not like another Vietnam with these candyass politicians who haven&#039;t worked a real job in their lives, let alone have any military experience to make a qualified decision. We watch the Obamas and all the social elite going to the million dollar parties, yet our children are starving in the streets and we are being thrown out of our homes by the very companies that received our tax dollars as bail out money. This is CRIMINAL and must stop now.

All I can say is if you are tired of being a slave to wall street, the government and the banking cartel, you better had take action now, as this country as you know it is going to change overnight....and in the not too distant future.

Fellow Americans, WE MUST UNITE AGAINST THIS CORRUPTION and take back America from the usurper in chief and his cronies.</description>
		<content:encoded><![CDATA[<p>Great Job Willow! </p>
<p>I have often asked, &#8220;What if the American people just STOPPED PAYING these companies?&#8221; They charge criminal interest rates that no one singed on to initially, accept taxpayer bailout money and then turn around and screw the people who bailed them out in the first place.</p>
<p>Here&#8217;s the deal. Wall street, government and the banking cartel are a CRIMINAL enterprise. The American people are finally waking up and realizing this. The sad part is that nothing short of a second American Revolution will stop their criminal behavior, as all branches of government have been corrupted.</p>
<p>Stop playing their game. Willow is right. Hit them in the pocketbook. </p>
<p>Who gives a rat&#8217;s ass about your credit score when your family is starving and the very people we elected are bankrupting our nation. The government certainly doesn&#8217;t care about their credit rating and continues to mount debt upon debt.</p>
<p>&#8220;Do as I say, not as I do&#8221; is their motto!</p>
<p>I see our boys dying in a war (non declared) that should be fought to win&#8230;not like another Vietnam with these candyass politicians who haven&#8217;t worked a real job in their lives, let alone have any military experience to make a qualified decision. We watch the Obamas and all the social elite going to the million dollar parties, yet our children are starving in the streets and we are being thrown out of our homes by the very companies that received our tax dollars as bail out money. This is CRIMINAL and must stop now.</p>
<p>All I can say is if you are tired of being a slave to wall street, the government and the banking cartel, you better had take action now, as this country as you know it is going to change overnight&#8230;.and in the not too distant future.</p>
<p>Fellow Americans, WE MUST UNITE AGAINST THIS CORRUPTION and take back America from the usurper in chief and his cronies.</p>
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		<title>By: steve</title>
		<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/comment-page-1/#comment-16446</link>
		<dc:creator>steve</dc:creator>
		<pubDate>Sun, 29 Nov 2009 20:55:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.mybudget360.com/?p=1456#comment-16446</guid>
		<description>Brilliant article! Thanks!</description>
		<content:encoded><![CDATA[<p>Brilliant article! Thanks!</p>
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		<title>By: Willow</title>
		<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/comment-page-1/#comment-16440</link>
		<dc:creator>Willow</dc:creator>
		<pubDate>Sun, 29 Nov 2009 17:33:04 +0000</pubDate>
		<guid isPermaLink="false">http://www.mybudget360.com/?p=1456#comment-16440</guid>
		<description>The minute we all stop worrying about our &quot;credit score&quot; is the minute we can free ourselves from this mess. You are not your credit score. From what I understand the FICA score depends on how much money a bank will lend you which seems to be calculated by their own formula. Mr. 360 you explain FICA because you are way better than me on how that is calculated.

Okay, folks, time to break free of this crap. If everyone in the country has 0 for a credit score guess how much that score is going to matter? Zero. Who are they going to lend to? Themselves? The market is driven by value. Value is determined by what someone is willing to pay for a thing. So, as you can see, if nobody is willing to pay $50 for a cheap cotton t-shirt made in China, the price will go down. Just look around at all the sales. They have to move merchandise and in order to do that they have to reduce the price to make it worth buying. Therefore, we have a lot more power than we are led to believe.

Look, just stop buying crap. Honestly. Just stop. Go on strike. Buy food, pay your bills and rent and blow off the credit card companies. They will sell your debt to some collector. Thus, they&#039;ve already been paid. In fact, if those banks accepted TARP money effectively they&#039;ve already been paid by the government who paid them with your Tax money. So, it seems to me that you&#039;ve already paid your bill via your taxes. Why should the banks collect twice? Also, the fact is that much of this debt the banks claim is owed to them probably has already be bundled, securitized and sold to some investor. If that is true then they don&#039;t own the debt anyway and they&#039;ve already been paid.

As for the collectors? Get caller ID. It&#039;s probably no more that $5 a month extra on your bill.  Anybody you don&#039;t recognize let it go to voice mail. Then, erase the messages from the collectors. Give your friends your cell phone. Again, any number you don&#039;t know goes to voice mail to be screened.  They can&#039;t take us all to court, can they?

Don&#039;t you think it&#039;s time we reconsider exactly who has the power here? Why should we be victims of these scams? There are 300 million Americans in this country. We don&#039;t need to protest out in the streets where the cops will be ready with their tear-gas and rubber bullets. Most of us are just too old to do that. But we can go on strike, can&#039;t we? We can just hunker down and refuse to budge, refuse to spend and refuse to pay. Lock it up and shut them down.
Cut up those credit cards and toss. Go cash only. Use your debit card instead. If we did this for 30 days, the whole Ponzi scheme will crash.

We&#039;ve got a lot more power than we think. So, for the love of God...THINK DIFFERENTLY!</description>
		<content:encoded><![CDATA[<p>The minute we all stop worrying about our &#8220;credit score&#8221; is the minute we can free ourselves from this mess. You are not your credit score. From what I understand the FICA score depends on how much money a bank will lend you which seems to be calculated by their own formula. Mr. 360 you explain FICA because you are way better than me on how that is calculated.</p>
<p>Okay, folks, time to break free of this crap. If everyone in the country has 0 for a credit score guess how much that score is going to matter? Zero. Who are they going to lend to? Themselves? The market is driven by value. Value is determined by what someone is willing to pay for a thing. So, as you can see, if nobody is willing to pay $50 for a cheap cotton t-shirt made in China, the price will go down. Just look around at all the sales. They have to move merchandise and in order to do that they have to reduce the price to make it worth buying. Therefore, we have a lot more power than we are led to believe.</p>
<p>Look, just stop buying crap. Honestly. Just stop. Go on strike. Buy food, pay your bills and rent and blow off the credit card companies. They will sell your debt to some collector. Thus, they&#8217;ve already been paid. In fact, if those banks accepted TARP money effectively they&#8217;ve already been paid by the government who paid them with your Tax money. So, it seems to me that you&#8217;ve already paid your bill via your taxes. Why should the banks collect twice? Also, the fact is that much of this debt the banks claim is owed to them probably has already be bundled, securitized and sold to some investor. If that is true then they don&#8217;t own the debt anyway and they&#8217;ve already been paid.</p>
<p>As for the collectors? Get caller ID. It&#8217;s probably no more that $5 a month extra on your bill.  Anybody you don&#8217;t recognize let it go to voice mail. Then, erase the messages from the collectors. Give your friends your cell phone. Again, any number you don&#8217;t know goes to voice mail to be screened.  They can&#8217;t take us all to court, can they?</p>
<p>Don&#8217;t you think it&#8217;s time we reconsider exactly who has the power here? Why should we be victims of these scams? There are 300 million Americans in this country. We don&#8217;t need to protest out in the streets where the cops will be ready with their tear-gas and rubber bullets. Most of us are just too old to do that. But we can go on strike, can&#8217;t we? We can just hunker down and refuse to budge, refuse to spend and refuse to pay. Lock it up and shut them down.<br />
Cut up those credit cards and toss. Go cash only. Use your debit card instead. If we did this for 30 days, the whole Ponzi scheme will crash.</p>
<p>We&#8217;ve got a lot more power than we think. So, for the love of God&#8230;THINK DIFFERENTLY!</p>
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		<title>By: Al</title>
		<link>http://www.mybudget360.com/credit-card-monopoly-top-5-issuers-hold-550-billion-in-credit-card-debt-taking-up-over-60-percent-of-the-entire-credit-card-market/comment-page-1/#comment-16371</link>
		<dc:creator>Al</dc:creator>
		<pubDate>Fri, 27 Nov 2009 11:31:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.mybudget360.com/?p=1456#comment-16371</guid>
		<description>I&#039;m tapped out, so I gave up on most of my cards about a month ago.  I&#039;ve been out of work since early Dec &#039;08, cleaned out my pension and 401ks to keep me afloat and about mid- to late-October, ran out of cash.  Unemployment doesn&#039;t come close to paying the bills, so I&#039;m now in a race to see what comes first--foreclosure etc or actually finding a decent job.  My mortgage hasn&#039;t been paid for November, but I hope to have that paid within the next couple of days.  December&#039;s mortgage?  No clue.  ...and with 5 kids, Christmas is going to really be difficult this year.

And of course, these banks that got bailouts are ringing my phone 8-10+ times/day with the collection calls.  So now I can&#039;t even get legit calls because we need to turn off the ringers to keep from going mad.

Happy Holidays!</description>
		<content:encoded><![CDATA[<p>I&#8217;m tapped out, so I gave up on most of my cards about a month ago.  I&#8217;ve been out of work since early Dec &#8216;08, cleaned out my pension and 401ks to keep me afloat and about mid- to late-October, ran out of cash.  Unemployment doesn&#8217;t come close to paying the bills, so I&#8217;m now in a race to see what comes first&#8211;foreclosure etc or actually finding a decent job.  My mortgage hasn&#8217;t been paid for November, but I hope to have that paid within the next couple of days.  December&#8217;s mortgage?  No clue.  &#8230;and with 5 kids, Christmas is going to really be difficult this year.</p>
<p>And of course, these banks that got bailouts are ringing my phone 8-10+ times/day with the collection calls.  So now I can&#8217;t even get legit calls because we need to turn off the ringers to keep from going mad.</p>
<p>Happy Holidays!</p>
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